Tens of millions of Americans are struggling with debt and looking for a way out. That search can be confusing: There are many debt relief methods out there, and it’s hard to know which is right for you. Debt settlement and debt consolidation are two of the most common. Let’s take a closer look at …
Debt Settlement vs. Debt Consolidation: Which is Better? Read More »
The debt-to-income ratio (DTI) is a metric lenders use that compares your total monthly debt payments to your gross monthly income. It measures your ability to manage your existing debt obligations compared to your income. It is also usually a critical factor in determining whether you can borrow more money. Calculating your debt-to-income ratio is …
If you’re juggling so many credit card and loan payments each month that you can only afford to make the minimum payments, it’s time to consider debt consolidation. But what is it, and how does it work? Key points How Debt Consolidation Works Debt consolidation rolls your old debt into one new loan. There are …
What is Debt Consolidation? A Quick Way to Tackle Your Debt Read More »
Debt consolidation doesn’t just save you money. It also simplifies your financial life by rolling everything into a single monthly payment, sometimes with longer repayment terms. This will not only simplify your payments, but it also can ease your budget crunch by lowering the amount of money that you have to commit each month to …
Five Types of Debt You Should Be Consolidating Now Read More »
Are you juggling multiple payments each month, struggling to come up with the cash to make several minimum monthly payments? Debt consolidation rolls your debts into one new loan with one monthly payment. If done correctly, it will ease your budget crunch. If you’ve ever wondered why a borrower would consolidate debts, read on to …
Seven Great Reasons Why You Should Consolidate Debt Read More »
If you are over your head with money struggles, debt consolidation can be a great way to get out of debt and avoid legal action from creditors. It involves combining multiple debts into one, making it easier to manage and pay off. But will it stop a lawsuit? Are you eligible for debt relief? We …
Can Debt Consolidation Stop a Lawsuit? It Depends Read More »
Have you got a lot of debt? It can be challenging to keep track of payments and balances on outstanding debts between credit cards, student loans, and auto loans. Debt consolidation can be a great way to get your debts under control. But if you’re wondering whether you can keep your credit card accounts open …
Does Debt Consolidation Close Credit Cards? What You Need to Know Read More »
According to a May 2022 LendingClub survey, around 64% of Americans live paycheck to paycheck. Living paycheck to paycheck is not an issue isolated only to low-income people. It can happen to anyone at any income level. So what happens if you lose your job? Will you be able to consolidate your debts to keep …
Debt Consolidation for the Unemployed: How to Tackle Debt When You’re Between Jobs Read More »
According to educationdata.org, there are 43.4 million borrowers who are saddled with federal student loans. Many of those borrowers have ended up working in health care. Nearly 70% of medical school graduates left school with a median debt of about $200,000 per student (not including undergraduate study) in 2021, according to the Association of American …
Debt Consolidation Loan Options and Relief for Health Care Workers Read More »
In divorce, it’s not just a marriage that splits. Assets and liabilities also have to be divided. Most American households have debt, and divorce doesn’t make it disappear. If you’re considering consolidating debts post-divorce, you must first understand how divorce affects debt. Are you consolidating individual accounts — or joint ones? When you get married, …
How Does Divorce Affect Debt Consolidation? What You Need to Know Read More »