Blog: 2017

A bad credit score can wreak havoc on various parts of your life. It can cause you to be denied for not just credit, but homes that you desire and jobs that you would adore. It's one of those things that can destroy your financial existence and eat away at any chance you have to rebuild your life. If you have poor credit, then you know what it's like to have something in front of you that you can't have because of a number.

If you are at the point in your personal finances where you are overwhelmed by this debt, you need to know that there are several solutions. The most popular is debt consolidation; however, there are several forms that this can take. The following are the pros and cons of each type.

 

In 2016, graduates had an average of more than $37,000 each in student loan debt. By 2017, Americans had accumulated more than 1.45 trillion dollars in student loan liabilities, and student loan debt isn't limited to the younger set. Many adults aged 40 and older have student loan debt, whether due to higher loan debts initially, or due to having to retrain later in life. Unpaid student loans can adversely affect your credit, which can hinder your ability to obtain housing, your available job prospects, your insurance rates, and more.

Foreclosure Attorney Savannah

The housing market in 2016 saw the lowest number of active foreclosures since 2006, and 55 percent of them originated between 2004 and 2008. Foreclosure starts in 2016 were down 78 percent from its peak level 2009, and the process from beginning to end takes an average of 803 days. This is a little over two years of stress and uncertainty that a homeowner will go through to figure out if they will be able to keep their home. The process is long and difficult, but it is possible to get out of it and keep your home.

rebuild creditYou may feel down if you are going through credit trouble at the moment, but you're not alone. The truth is that many people are struggling the same way that you are. Imperfect credit doesn't make you a bad person, it just makes you as fallible as everyone else!  However, you're going to have to raise your score and rebuild your credit if you intend to request something like a mortgage, apartment rental, car loan, personal loan or something else. The following information can help you to understand how to rebuild credit after the ramifications of certain actions, and it can explain how to rebuild credit so that you can start your journey of credit repair today. 

how to fix creditA bad credit score can wreak havoc on various parts of your life. It can cause you to be denied for not just credit, but homes that you desire and jobs that you might need. Worse, it’s one of those things that can destroy your financial existence and eat away at any chance you have to rebuild your life. If you have poor credit, then you know what it's like to have something in front of you that you can't have because of a number. Your biggest question right now is probably, "Can someone please tell me how to fix my credit?" Here are some ideas:

Needless to say, debt is part of life, especially in the business world. Businesses sometimes thrive on debt-derived capital; borrowed capital encompasses a significant portion of the business financing. Loans are readily available mostly from financial institutions if you meet certain criteria. However, the big issue arises when it gets down to loan repayment. How to get adequate funds to meet the terms of your loans?

pay off debtLike businesses, individuals sometimes have to incur debt as part of daily living. As is expected, enterprises and individuals are supposed to start paying off debt from operational income, but it does not always work out as planned. If payback resources are limited, some people opt to borrow from their retirement plans like the popular 401k.

business taxesIn the United States, both individuals and businesses alike are required to pay taxes. Generally, corporations are taxed a minimum of 15 percent and a maximum of 35 percent. However, the type of business you own and operated determines the kind of taxes you are required to pay and how they are paid. If you own a business or are planning on starting one, it is helpful to learn about the most common types of business taxes.

Reduce Your Debt

Many people easily find themselves locked in crippling debt. When you are in this kind of situation, it can be overwhelming and even scary, especially if you don’t know where to turn. However, there is a solution that can help to alleviate your debt. Credit card consolidation is one of the best options. If you are not familiar with it, it’s important to learn all the details of how this option works to get you out of debt once and for all. Here are tips for debt consolidation.

Steps to Eliminate Debt

Debt relief is easier when you’ve only ever known relief from debt. Those who want to live a life that’s debt-free and enjoyable know a few tips and tricks that help them live a life that’s not financially obligated to anyone else. These are the people who know it’s better to stay out of debt by spending less than they earn, by creating a budget, and by always focusing on their finances. If it’s too late and you’re already in debt, it’s not something you have to life with forever. There are ways to avoid future debt and eliminate current debt, and there are numerous tips to help you find debt relief.