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What To Do When You Can’t Pay Your Student Loan Debt

What To Do When You Can't Pay Your Student Loan Debt 1

Student loans are becoming a problem for more college graduates — or more particularly the ability to pay them. Higher college tuition and fees has led to larger student loan debts with commensurately higher monthly payments. This can be a heavy burden for a young person trying to make their way into adult life. But … Read moreWhat To Do When You Can’t Pay Your Student Loan Debt

Is It Smart to Use Cash Out Refinancing to Pay Off Debt?

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Home mortgage and refinancing rates just keep getting lower and lower. You thought 4.5% on a 30 year fixed rate mortgage was low? They’re even lower now. Think about this: you can now get a 15 year mortgage for less than 3% if you have excellent credit. That’s crazy! I remember just a few years … Read moreIs It Smart to Use Cash Out Refinancing to Pay Off Debt?

How to Consolidate Student Loans

How to Consolidate Student Loans 5

Student loan debt is one of the most crushing debts for new graduates, especially in an economy where simply finding a job amidst high unemployment is difficult. Consolidating your student loans can save money on interest paid, lower your interest rate, and lower your payment. However, not all that glitters is gold. There are significant … Read moreHow to Consolidate Student Loans

Can’t Pay Your Debts? 5 Ways to Hide from Your Creditors

Can't Pay Your Debts? 5 Ways to Hide from Your Creditors 8

Few people, when swiping their credit cards, or getting a car loan, do so with the intention of defaulting on their debt. In many cases, they are sure they can afford the debt, and that they will be able to make the loan payments. Unfortunately, debt tends to build up, and can sneak up on … Read moreCan’t Pay Your Debts? 5 Ways to Hide from Your Creditors

What is Student Loan Deferment and Loan Forbearance?

What is Student Loan Deferment and Loan Forbearance? 11

For many Americans, student loans are a way of life. Their parents had them and graduated with debt, and the unfortunate tradition has been passed down to the next generation. During the boom years of the past decade, having student loans wasn’t necessarily a huge problem. You could go flip houses or earn an ever … Read moreWhat is Student Loan Deferment and Loan Forbearance?

Starting Over by Declaring Personal Bankruptcy

Starting Over by Declaring Personal Bankruptcy 14

The recent recession hit many people hard. But it’s not only recession related issues, such as job loss, that can cause financial problems. A big medical emergency or accident can deplete your finances — even when you have health insurance. Divorce can also result in financial devastation. And, of course, sometimes we make huge money … Read moreStarting Over by Declaring Personal Bankruptcy

How to Deal with Debt Collectors and Stop Harassing Calls

How to Deal with Debt Collectors and Stop Harassing Calls 17

Owing a debt that you are behind on can be a humiliating and frustrating experience. When your unpaid bill is well beyond being past due, it is written off and sold to a debt collection agency. The collection agency buys your debt for pennies on the dollar and any money they get you to pay … Read moreHow to Deal with Debt Collectors and Stop Harassing Calls

How to Effectively Deal with Student Loans After Graduation

If you are like many Americans who needed help financing their higher education pursuits, you are facing a student loan note each month fairly soon after the pomp and circumstance has ended. About two-thirds of college students that receive bachelor’s degrees are already in debt before they even find a steady career path. This debt … Read moreHow to Effectively Deal with Student Loans After Graduation

Is Using a Debt Snowball a Good Idea?

Is Using a Debt Snowball a Good Idea? 25

There are many personal finance experts, including money guru Dave Ramsey, who promote the efficiency and effectiveness of the debt snowball solution. While it’s true that this method can work for some it is certainly not a one-size-fits-all solution. In fact there is no single correct solution for eliminating debts because every person has different … Read moreIs Using a Debt Snowball a Good Idea?