Tag Archives: Debt

Credit Unions Look to Lower Student Loan Debt

November 04, 2011   Daniel Murphy   No comments

The average consumer is saddled with $29,985 in student loan debt, according to recent Credit Karma data. That’s an increase of 6% over last year. Pair those figures with a weak economy and a slow job market and the outlook is grim for many young adults. In light of this trend, President Obama has announced new measures to make student loan debt easier to repay. Some of his proposals include capping loan payments to 10% of a borrower’s income and offering debt forgiveness after 20 years of payment instead of the present 25 years.

Unfortunately, these rules only apply to federal loans. To

Read the full post

  Tags: Debt, Loan Debt, Student Loan, Student Loan Debt

Debt Assistance: The Good, the Bad and the Ugly

June 27, 2011   Daniel Murphy   No comments

If you’re struggling with credit card debt, it may feel like all the doors are closed, and there is no way out. However, there are a number of ways to get help if you know where to look.

Heres the good, the bad and the ugly in credit card debt assistance. Buyer beware.

The good: Credit counseling As the name implies, credit counseling involves working with a professional coach who will look at your unique financial situation and help you pare back your debt strategically.

Millions of consumers enroll in nonprofit credit counseling programs every year and a significant number find that budget counseling and financial literacy education is enough to get them back on the right financial track, according to the National Foundation for Credit Counseling.

Also, good: Debt management plans A debt management plan (DMP) is a comprehensive repayment plan for all of your debt, which typically includes loan modifications, such as lower interest rates and lower monthly payments. I

Read the full post

  Tags: Debt, Debt Assistance

4 CyberTools to Help You Zap Credit Card Debt

March 11, 2011   Daniel Murphy   No comments

More than 100 million Americans carry a balance on their credit card from month to month, shouldering a combined $800 billion in revolving debt. While this is a short-term situation for some, credit card debt keeps piling up month after month for others.

If you’re one of the millions of Americans struggling with credit card debt, take heart. A slew of online services offer great tips and tools to pare down your debt faster. Here are CreditCardGuide.com’s picks for four of the most useful financial management Web sites.

1. ReadyFor Zero.com ReadyForZero.com bills itself as a free online financial tool that lets users track credit card debt, explore different repayment options and create an easy-to-follow plan to eliminate debt. Rea

Read the full post

  Tags: Credit Card, Debt

Stop paying credit cards – what happens with debt and you

February 20, 2011   admin   No comments

When it comes to advise on credit card debt, you can find plenty of rubbish around the web these days. Just a few days ago, someone I know very well decided to stop paying credit cards. She thinks she knows what happens next. She owes no more than $7,000 in credit card debt to Capital One and Discover. Works as a cashier in a local grocery shop making $8 per hour. The husband is a carpenter who makes around $14. They have very little money in the bank. With $900 monthly rent, cable, two latest cell phones and $400 monthly payment on 2008 Camry, there is not much left after food and other necessities. So the lady found this post, which explains how you can legally stop paying credit cards.

Read the full post

  Tags: Credit Cards, Debt, Paying Credit, Paying Credit Cards

How to Delete Student Loan Debt

October 27, 2010   admin   No comments

student loan debt is a cross that many of us lead. Let’s face it – college is expensive and not always sufficient for scholarships, awards and monetary policies of the mom and dad, for everything to cover. Between tuition, books, a dorm room, meals and a car (with its costs), the cost of tens of thousands of dollars or more college! The ready availability and ease of student loans, rejects many of us want to get before we officiallythe real world. This debt can cost you hundreds each month, at a time when we have enough money to pay for a studio. So how can you manage your student loan debt boom and still have a decent standard of living?

First you need to consolidate all existing loans to student loans for a large. T

Read the full post

  Tags: Debt, Loan Debt, Student Loan, Student Loan Debt

College Without Running Up Debt Settlement

October 09, 2010   admin   No comments

The vast majority of the many students complete a series of loans to see them through college and often end with a huge debt which then takes years to pay for. So it is possible to pay the debt for a college education without the burden themselves with loans?

The simple answer is yes, but it requires a little planning.

As you begin college, well in advance, you can start the party money science in a victory and help from parents or other relatives to cover for your regular contributions. Now, this is not nearly enough security to see you through college, but can be a great help, great.

The next great source for many students is scholarships.

Read the full post

  Tags: Debt, Debt Settlement
Page 1 of 3123