Category: Debt
Purchasing a home is one of the most exciting events in life, a benchmark moment that often comes as the result of years of hard work and determination. As you sign the closing papers on this momentous day, chances are you aren’t thinking about the possibility of giving …
A debt settlement offer to pay off a credit card with less money than what you owe can seem like a gift. Settling a $6,000 credit card bill for $4,000, for example, leaves you with $2,000 in debt that you don’t have to pay. Instead of being in …
Not picking up the check at dinner, having bad breath or being late may be excusable on a first date, but one thing isn’t — having too much credit card debt, according to a survey. The average amount of credit card debt that’s considered unacceptable is $11,525, with …
Having too many debts can be overwhelming. Which do you pay first? Does it matter? Should you pay the creditor that screams the loudest first? Not necessarily. Some debts should take precedence over others because they can have worse consequences than others. Here are bills you should pay …
The average indebted household that doesn’t pay credit cards in full each month carries $8,683 in credit card debt. Eventually, that debt affects the card members’ credit scores. A credit score impacts the ability to borrow money, leading to higher interest rates, bigger down payment requirements and possibly …
Debts from student loans, credit cards, healthcare, mortgages, auto loans and other daily bills of life can add up. Sometimes a debt collector may be called to ask you for the money owed. Negotiating a settlement with a collection agency can help you solve that problem if your …
When trying to pay off debt, it can help to have a plan. Instead of paying credit cards, car loans, medical bills and other debts in random amounts each month or splitting your total payment evenly toward them, a plan such as a “debt snowball” can encourage you …
You may not know it when a debt collector calls, but some have bigger incentives than others for pushing you to pay. There are two types of collection agencies: Ones that are hired by creditors to collect debts, and those that buy old debts from original creditors for …
When a collection agency has contacted you, you have 30 days to request that they validate the debt. Use this sample letter to make them prove it’s your debt. If you’re the type of person who would rather have a professional handle it and just be done with …
An unexpected call or letter from a debt collector can be quite unsettling. This is especially true when a debt collector starts to get aggressive and threatening, which happens often. Before we get into specifics about dealing with debt collectors, the most important thing to keep in mind …
