There are all kinds of strategies when it comes to eliminating credit card debt – entire books have even been written on the subject. But anyone who has tried to do it knows it’s much easier said than done. After all, that’s why so many people struggle with huge amounts of credit card debt. The […]
Debt and credit are strongly related. There is a very high correlation between people that are troubled with debt to also have a low credit score and other credit related challenges.
If you have too much debt, and are already experiencing credit problems, you will need to create a debt payment priority. That will help you determine which of several credit obligations needs to be paid first, and which you may be forced to delay if you don’t have the money to pay. And just as […]
Debt-to-income ratio – commonly known as “DTI” in the lending universe – is a major lending criteria any time you apply for a loan. And even if you are not applying for a loan, it is an important measure of how well you are doing in managing your credit, and whether or not you’ve taken […]
People often try to deal with mounting debt and credit problems by doing a debt consolidation. In theory, it’s a sound idea. But in reality, one debt consolidation leads to another, and then to another. It’s called serial debt consolidation, and it’s more often the road to financial ruin then to credit salvation. How does […]
Negotiating with creditors with whom you still enjoy a good standing is an important skill – and very different from negotiating with debt collectors. The idea is to avoid your credit problems reaching the point where debt collectors and credit repair are even part of your life. So how can you negotiate with creditors in […]
Here are five tips and tricks that many people overlook when they try to improve their credit score. It may be difficult to do the heavy lifting – but you may not have to. These are relatively easy and painless and could give your score a significant boost.
Large medical bills are a different kind of debt. This is partially because they don’t come from traditional lenders, and because you can be swapped with a very large amount of debt in a short period of time. In addition, the storm can come without warning – one day you don’t owe anyone a dime, […]
So many people wrestle with debt and credit problems, even years after the Great Recession. Maybe you’re one of them. If so, there are several different ways to try to fix your credit and get out of debt. In fact, there might be a dozen or more ways to do this. Still, most people focus […]
Debt settlement is one of several things that may help you fix your debt problems. It may not work in all cases, and it could very easily make your credit problems much worse. But if you want to avoid bankruptcy, it’s a strategy that is certainly worth consideration. What is Debt Settlement? Debt settlement is […]
There are several ways for you to deal with your debt and credit problems, including debt negotiation, debt settlement, and bankruptcy. In this article, I want to focus on debt negotiation, since it is probably the least understood of the three. Debt negotiation is your effort to get a creditor to agree to lesser terms […]