Debt Consolidation

Do you have a mountain of debt and worry about money? You are not alone. According to the American Psychological Association, 72% of adults stress about money, auto loans, paying rent, or feeling overwhelmed by debt. Debt consolidation can be the solution – if you do it correctly. DebtHammer can help Whether you have $1,000 […]

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

It may seem crazy that many high-income medical professionals are struggling with debt. But you’d be shocked by the number of doctors who earn $600K+ a year but are living paycheck-to-paycheck due to crippling student loans with high interest rates. One survey found that one-third of healthcare workers said their financial security was impacted by

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 debt consolidation after a divorce, you must first understand how divorce affects debt. Key points Are you consolidating individual accounts — or joint ones?

Paying off one installment loan is hard enough. Juggling multiple lines of installment debt is a nightmare. That’s why people are turning to installment loan debt consolidation as a solution. Pro tip: Installment loans are high interest rate loans that are offered at banks, credit unions and online lenders. The loans can sometimes be secured

Combining finances often makes sense for long-term partners (whether married or not). It’s a way to commit more to each other and simplify financial affairs. But what about debt?  According to a 2017 survey by MagnifyMoney, money problems were the primary cause of one in five divorces. And considering that 27% of Americans don’t have

A debt consolidation loan is usually the simplest and most inexpensive way to consolidate credit card debts. The idea is to get a new loan with a lower interest rate and use that loan to pay off all of your other high-interest debts.  Even if you have bad credit, qualifying for a new loan 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

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