Debt Consolidation (2) Blogs

If you aim to go debt-free in 2021, you have chosen to fight the good fight. Congratulations on your choice! You deserve all the support and help you need to achieve your goal.

The holiday season may not seem like the opportune time to kick-start your debt resolution efforts. After all, there are gifts to give and receive, trips to make, and fun to be had.

Getting a debt consolidation loan can be tricky. Like other types of loans, approval for a debt consolidation loan is dependent on factors like your credit score and debt-to-income ratio. When you are already struggling to pay down debt, you may not be able to get a debt consolidation loan that will really help you.

If reducing your credit card debt is one of your goals, turn it into a SMART goal to make it easier and simpler to achieve. By doing that, you will pluck debt resolution out of the domain of dreams and plant it firmly into reality.

A simple Google search on “debt settlement feedback” reveals that people either love or hate their debt settlement company.

Are you thinking about negotiating the reduction of your debt directly with your creditors? You may want to think again.

Some may view bankruptcy as a reasonable way out of debt and an opportunity for a fresh start. The damage bankruptcy does to your finances, however, is life-disrupting and lasting.

Although sometimes confused or even used interchangeably, debt management and debt settlement are significantly different ways of tackling debt.

Debt settlement saves you money by shaving off a set amount of your loan principal. You will, however, owe taxes on the money you save this way. In many cases, it qualifies as income, and you need to report it as such to the IRS.

If you are struggling with a heavy credit card burden, you owe it to yourself and your family to explore all your debt relief options. The sooner you do so, the sooner you can find your way to true financial freedom.