When it comes to debt, there are two different types
When it comes to debt, there are two different types, secured and unsecured. While secured debt is essentially a credit line backed by a tangible asset, an unsecured one is not backed by any contingencies. Even though they differ in this respect, they both can adversely impact an individual’s credit score, resulting in collection calls,
Small medical bills can lead to big problems for your credit
If you’ve ever had to seek medical treatment, you know that small medical bills can trickle through for several weeks or months. Sometimes, these bills may be misplaced, and things do happen that make them harder to pay. Unfortunately, even these small bills can affect your credit and slip through the cracks, making it hard
Maybe you feel like you have so much debt that it’s nearly overwhelming
Maybe you feel like you have so much debt that it’s nearly overwhelming. Maybe you don’t have much at all, and you think debt stories are oversold. Either way, you may be wondering how much debt Americans tend to carry. According to a survey that looked at the most recent numbers, for 2016, the average
A study conducted by the Urban Institute shows that, as a whole
A study conducted by the Urban Institute shows that, as a whole, those with medical debt have fallen significantly, those struggling with past-due medical bills still are high. This trend has been shown to have the biggest impact on young adults. Of the sample of 18- to 64-year-olds polled in 2012 and 2015 respectively, researchers
Becoming overwhelmed by credit card debt can easily occur for anyone, especially
Becoming overwhelmed by credit card debt can easily occur for anyone, especially if someone loses one’s job, becomes ill, or is confronted by an unplanned financial crisis. While many debt settlement companies claim to be able to negotiate a settlement with a consumer’s credit card company at a reduced rate, it’s important to note that
Understanding the difference between debt relief and bankruptcy
When it comes to drowning in debt, there are a number of reasons individuals find themselves struggling to make ends meet. Whether it be unforeseen circumstances or voluntary excesses, debts, if left unresolved, can make your life much more difficult that it already was. There are a number of reasons you may find yourself overwhelmed
Understanding how wage garnishments work
If you have missed a series of payments resulting in delinquent accounts, then you understand just how persistent creditors can be in demanding payments on your debts. That being said, a progression of time or lack of communication with the creditors does not make them go away. After tirelessly calling without a resolution, most creditors
How credit scores are determined and how late payments affect it
Once you turn 18, you are deemed to have reached a certain level of maturity necessary to not only enter contracts, but manage your own finances as well. However, not everyone is fortunate enough to have had good financially-responsible role models to emulate. Because of this, many young consumers make poor decisions that can leave
You can work through your debt to live a financially free life
It’s time for your child to go to college, and now’s the best time to talk about how much it’s going to cost. Many people go into college not understanding the full impact debt can have on them later. Focusing a little on the expenses now can help you and your child save money later.
Progress on paying down medical debt falters
Medical debts weigh down many American families, and reports have foreshadowed a growing number of people will be unable or struggle to pay their bills. According to a Jan. 25 report, employers are pushing workers into high-deductible health plans, and out-of-pocket costs are rising. That means that individuals who get hurt or need medical care