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debt guide to freedom
Getting out of Student Debt
Graduating college without debt is a huge rarity in this day and age. Some people are able to manage such levels of debt, others find themselves drowning in it. If you find yourself in the latter category, you‘re not alone. Fortunately there are ways out.
Consolidation: Keep Debt Simple
College loans are one of the easiest forms of debt to consolidate. Individuals laboring under collegiate debt of over $55,000 find consolidation loans the number one source of aid. If you are in a situation where that amount of debt is comprehensible, a consolidation loan may be a good option for you. This process can be a huge relief to those in that much debt.
First Things First
The most important thing when developing strategies for paying back any kind of debt is to put the repayment plan into perspective. Think of it as a step by step process. Breaking the debt up into manageable pieces makes it much easier to fathom actually making progress in paying it off. Try to only think about what you owe immediately. Looking at the big picture when it’s possibly way more than you make in a year could depress anyone.
You’ve Got Company
You are not in a unique situation. Many students not only labor under massive loans, but large amounts of credit card debt. Learning from observation of others people’s trials and tribulations can provide you a strong compass in days to come.
Whether this debt is good for the economy is a whole other debate. Regardless, the debt is common. It may not be what you dreamed of in high school, but it’s how the cookie crumbles.
Here are some more debt resources...
Credit Card Debt
The newest version of Monopoly has incorporated credit cards for a reason; Americans, now, more than ever, rely on credit as a means of every day purchasing power. Every year, the average amount of Read more...
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Eliminating National Debt
It’s typical for an American today to be in more debt than they can easily pay off. It’s considered acceptable, which has slowed down our urge to pay off the debt that we do owe. It’s not that Read more...
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Fair Debt Collection Act Deals
Being in debt is not a good feeling. You feel hopeless, helpless and out of control. While it makes sense to have these feelings, they certainly don’t help the situation, and may reinforce Read more...
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Why Opting-Out May Not Be Smart
The Citibank interest rate increases are pretty bad. About Credit/Debt Management readers have reported doubled and nearly tripled rates. It's absurd, but cardholders are left with few options: try to...
Debt Collector Fined $2.25 Million for Harassing Consumers
With your help debt collectors will not get away with threatening and harassing consumers. In the largest civil penalty to date against a debt collector, the FTC will receive $2.25...
How Not to Get a Free Credit Report
Discover Magazine's blog features one consumer's story of clicking a random "free credit report" search result and ultimately ended up getting charged hundreds of dollars for the report and some...
How to Survive Unemployment
Unemployment is at its highest levels since 2001. Everyday, there are reports about companies cutting thousands even tens of thousands of jobs. Just yesterday, Citigroup announced it would be cutting...
Citibank Credit Cards Will Get Higher Interest Rates
If you have a Citibank credit card watch out for an interest rate increased notice with your next billing statement. Though Citigroup, the bank servicing Citibank credit cards, promised it...
$1500 for Credit Repair? You Can Do it For FREE!
Today I saw a press release from a company offering credit repair services for $1,500. Look at what Credit Restoration Consultants claims they can do for you:
Credit Restoration Consultants is...
Now's the Time for Layaway to Make a Comeback
Remember layway? It's the polar opposite of store credit. You pick out your merchandise, then make payments on it before you take it home. Then, after you've completely paid for...
What Influences Your Credit Score
Your credit score is a pretty important number. Not only does it determine whether you get a credit card or loan, it also influences your ability to buy a house,...
Debt Collector Calls on Your Cell Phone
No one wants to be contacted by a debt collectors, especially not on your cell phone while you're caught in evening traffic. But, debt collectors can legally contact you on...
Can You Afford More Debt?
While you might think a credit card or a loan is helping you "afford" to buy groceries, it's only postponing an inevitable financial crisis. According to Merriam Webster's dictionary, to...
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