Showing by category: Debt

4 Key Ways to Tell Debt Relief Scams from Legitimate Ones
In a country that has everything, it also has debt. The vast majority of Americans owe plenty when mortgages are included, but a large percentage also carry high balances, student loans, credit card balances, medical bills and auto loans. And that opens the possibility for debt relief scams, and the Continue Reading
Do We Need Student Loan Debt Amnesty to Avoid a Crisis?
Normally, we think debtors should be required to pay their obligations in full. I was once in that camp. But during the Financial Meltdown, we had a similar crisis, with too many people owing too much money on their homes. Amnesty – perhaps in form of something like a 25% forgiveness of everyone†Continue Reading
What to Do When Debt Becomes Overwhelming
People seem to love throwing superlatives around when they represent something of an exaggeration. But when it comes to debt, overwhelming can be precisely the right word. If you have so many credit card bills, overdraft statements and the like flooding in through the door, you can feel helpless, pa Continue Reading
How to Make Money Online to Get out of Debt
Debts often create a sense of desperation. Whether you are taking a new loan or just paying off an existing one, there's a feeling of indignation over how long it takes to repay. Making a decision to get out of debt is already tough, not to mention devising ways to raise the amount of money required Continue Reading
The High Asset – High Debt Connection
Last month I wrote about How High Income Can Lead to High Debt. It seems to be an unlikely connection, but there are tangible reasons why it happens. Today I want to discuss a related, but also seemingly unlikely toxic debt association, the high asset - high debt connection. Record stock market valu Continue Reading
How High Income Can Lead to High Debt
Though it seems to run completely against logic, high income can lead to high debt. While it's generally thought that high income is the solution for high debt, the outcome is often the exact opposite. Often is because there is a certain amount of privilege that a higher income produces, and that ca Continue Reading
Build Savings or Pay Off Debt – Which Comes First?
Newsflash: You can’t get out of debt until you stop being broke! Some argue that if you’re in debt the priority needs to be to payoff your debts before attempting to build savings. Many call for the establishment of a small emergency fund—typically $1,000 — to handle contingencies, and then Continue Reading
How Much Student Loan Debt Is Too Much?
The state of the economy over the past few years has called into question our cultural love affair with debt of nearly all types. The once unassailable notion that home mortgages in nearly any type and in almost any amount were “good debt” has all but crumbled. A mailbox stuffed with credit card Continue Reading
5 RISKS to getting a College Education
The college game is changing. A number of factors have turned the one time ticket to the good life into a high risk proposition. Here are 5 risks... Continue Reading
10 Reasons Why People Cannot Get Out of Debt
Everybody knows that too much debt is bad; the financial universe is filled with blogs, experts, and gurus who tell us as much and even how to get out. So why is it that people cannot get out of debt? Is it because debtors behave badly, that they fail to adequately confront their credit problems†Continue Reading