Debt settlement is used by debtors who have large amounts of debt as a way to reduce their debt without having to file bankruptcy. It is often a last ditch effort to avoid bankruptcy! A debt settlement is when you negotiate with creditors in order to get a pay-off amount that is less than the total amount owed, and typically has to be paid back all in one lump-sum.Why would a creditor consider an amount that is less than what...more
Don't think you are the one to blame if you have a limited knowledge about your finances. The majority of Americans are not too savvy on finances. The reason is because basic personal finances classes are not offered on any level of education. Nor in schools, high schools, nor even in the top colleges and graduate schools.There are common mistakes people keep making one time after another such as not planning their spending, not...more
It is very important to notice that the current generation of young people is getting more and more involved into a lot of things which were either nonexistent or possible in the past. Besides the usual late night drive-in movie or mid-afternoon soccer practice, today's technologically savvy youths can write a letter, talk to a friend, listen to a playlist of more than a thousand songs, update a social networking personal page, and send a letter of application to a favored university, all at the same time, and all this while squeezing a stress ball with one hand. It obviously shows that for today's youth, a whole world of opportunities lies within their reach. But with opportunity comes corresponding responsibility. And, more often than not, there is money involved. Now, more than ever, today's generation of ecoboomers needs to know how to manage their personal finances, wisely and responsibly. That responsibility is emphasized even more for those enrolled in a university.Take the case of an average college student. The day begins at around midnight with either a late night out together with friends with boxes of pizza with a lot of six packs, or a full blown house...more
To stabilize Euro, European Commission and IMF joint issued subsidiary mechanism with 750 billion Euros last week, however this huge empty promise can only solve worry of investors temroraily, which could not appease serious wounds of global economy by debt crisis. In addition, recently euro zone members successively issued tight...more
Are you planning to watch a movie this coming weekend? It's that time of the week again when you get to get out of the madness of work and get some excitement and relaxation in front of the silver screen. There are sure to be new movies releasing every weeks because of the new trailers and Hollywood buzz running around in TV, Radio,...more
Pay what you owe, and you'll know what is your own. ~Benjamin Franklin. What a great quote to remember in a time when credit is at its highest. Credit is so easy to get, that many, especially young, people have gotten themselves into deep water with serious debt. There was a time in my life that I thought it was great to have anything that I wanted.My father used to tell me that during the depression, people would only buy things that they could pay for because so many people were going bankrupt. He said that people were losing their houses because they couldn't even afford to pay the mortgages. His generation was raised in a time of extreme desolation and held onto the knowledge and values that if you really needed something, you saved for it.He used to tell me, every time that I purchased something on credit, that I was paying for a "dead horse". I was enjoying something that I did not own but I was still making payments long after it'd become "OLD" and worthless. Some people today buy merchandise, for example furniture, with no money down, no interest and no payments until later. The problem with that is the furniture is getting worn out before the first payment...more
A debt consolidation plan may be the way out of debt. Get into debt has never been easier than it is in today's society. Nobody wants to wait to save money to buy things they want. Despite a debt consolidation plan takes little time,...more
Generally public never aware of such financial terms whether its credit card, credit card debt, good and bad debt, and much more. Bad debt is defined as an amount that is written off by the business as a loss to the business and...more
Bad credit can affect many of the opportunities you have in your life, from your ability to purchase a home right down to your ability to rent movies. Today, Americans are finding themselves more in debt than ever, and many do not know...more
People should know that Debt is that which is owed usually referencing assets owed. Also in the case of assets, debt is defined as means of using future purchasing power in the present before a summation has been earned. Several...more
Most of the time it happens that we forget or not able to keep the record of our debts. And we get to see such scenario like If you're behind in paying your bills, or a creditor's records mistakenly make it appear that you are, a debt...more
People should be aware of different aspects of debts before dealing with it. Usually when you're sorting out how to pay back your debts, you should identify the most important ones. These are called your 'priority debts' and should be...more