Credit Card Debt & Loans

Learn about credit card debt & loans to use them to your advantage.

How Inflation Has Affected Credit Card Use by Region

More and more Americans are racking up credit card debt as the recent inflation pushes up the cost of living nationwide. Read this article to understand the correlation between inflation and credit card debt.

Jan 20, 2023
paying debt
Don’t Make These 5 Mistakes When Paying Down Debt

Paying down your debt seems pretty straight forward. However, it involves much more than merely making monthly minimums or avoiding interest. Avoiding these 5 mistakes will save you money and help you pay down your debt faster and more safely.

Dec 26, 2022
Debt Resolution
What is Debt Resolution?

This article will explain what is debt resolution and how it can save debtors from financial ruin and help you determine if it’s the right course of action for you.

Dec 6, 2022
Credit Card
Credit Card Debt Is Making a Comeback

US consumers continue to feel the impact of the current economic climate, leaning again on credit cards—as many did in the early days of the pandemic—to help cover daily expenses like food, gas, and other staples.

Dec 5, 2022
Debt Service Coverage Ratio
Guide to Debt Service Coverage Ratio (DSCR)

A debt service coverage ratio (DSCR) is a financial metric used to assess a borrower’s ability to pay back debt obligations. This ratio applies primarily to businesses or individuals taking on debt, such as through a loan or bond issuance.

Oct 31, 2022
Debt to Equity Ratio
Debt to Equity Ratio: Formula and How to Use it

The debt-to-equity ratio is a metric that measures a company’s financial leverage. Debt to equity is important for assessing a company’s ability to pay back its debts and meet its financial obligations.

Oct 31, 2022
Debt Consolidation
Debt Consolidation Explained

Here’s everything you need to know if you’re thinking about consolidating your credit card or other debt.

Oct 27, 2022
debt settlement attorney
What is a Debt Settlement Attorney & Finding the Best for You

A debt settlement attorney is a lawyer who specializes in negotiating with creditors on behalf of their clients to try to reach a settlement agreement. This can involve reducing the amount of money owed, or negotiate a payment plan that is more manageable for the debtor.

Oct 13, 2022
credit cards
8 Ways to Rebound from a Maxed-Out Credit Card

No matter how much credit card debt you’re in or how many cards you have maxed out, with discipline and consistency, you could find yourself debt-free again.

Oct 13, 2022
How does inflation impact Americans with credit card debt

It’s no secret that inflation is on the rise. This has a direct impact on Americans with credit card debt. In this blog post, we will explore how inflation affects credit card holders and what they can do to protect themselves. We’ll also take a look at some of the best ways to get out of credit card debt. So, if you’re struggling with high levels of debt, make sure to read this post!

Oct 10, 2022
Minimum Payment Credit Card debt
What Happens When You Make Minimum Payments

Only making a minimum payment isn’t such a bad thing if you have a 0% APR introductory offer. Otherwise, you’re going to rack up interest charges, add to your debt, and pay more in the long run.

Sep 12, 2022
Debt Collection Call
5 Ways to Stop Credit Card Collection Calls

If you run into credit card debt, you might be overwhelmed and stressed out by the seemingly never-ending phone calls from creditors or collection agencies. Here are 5 ways to Stop Credit Card Collection Calls.

Sep 6, 2022
5 Warning Signs You Have Too Much Debt

Sometimes, we get carried away or we are confronted with an unexpected financial emergency, and our debt spirals out of control. So, how much debt is too much debt? Here are 5 warning signs.

Aug 24, 2022
Credit Cards
How Credit Card Debt Works

If you’re struggling with credit card debt, it can start to feel like a black hole you can never climb out of. Credit card debt doesn’t have to be like a never-ending cycle of payments. You can regain control of your debt and pay it off. Read on to learn more about how credit card debt works and stay ahead of the credit card debt trap.

Aug 18, 2022
Mid-Year Financial Check-Up
Mid-Year Financial Check-Up: 5 Steps to Take Now

Many of us take stock of our finances at the beginning of the year in preparation for tax season, but planning a mid-year financial check-up allows you to modify and course correct. That could mean paying down your debt more aggressively or contributing more to your retirement plan after a raise. Whatever your reasons, a mid-year financial check-up could save you thousands to tens of thousands of dollars. Here are 5 steps to take now.

Aug 5, 2022
Three people chatting about ways to get debt relief
Best Ways to Get Debt Relief

If your debts have become too demanding and you’re feeling stuck, here are 7 simple steps and strategies you can implement today to get debt relief.

Jul 18, 2022
Hand, Putting, Wooden, Cube, And, Inflation, Word, A, On, Coins
Consumer Debt in The U.S.

Even as credit card debt has declined, mortgage and auto loan balances have increased dramatically. This trend may continue as the Fed is expected to begin raising interest rates in a move to get inflation under control. But just what exactly is consumer debt? And what does this mean for individuals?

Jul 11, 2022
Sad Confused And Stressed Young Asian Man Holding Credit Cards
Americans Are Accumulating Credit Card Debt at Record Rates

The Federal Reserve reports that as of March 2022, consumer debt is up to over $52 billion. Credit card debt surged
by over 21 percent as card companies have increased interest rates and fees. Read on to learn why americans are accumulating credit card debt at record rates.

Jun 3, 2022
Young Hispanic Stressed Woman Sit On Sofa In Living Room
Know your Rights When Dealing with Debt Collectors

Anyone who has received such calls knows it’s not so much a call as it is harassment and abuse. Before you find yourself on the receiving end of threats or harassment from a debt collector, you need to know your rights when dealing with debt collectors. And we aim to show you how.

Jun 2, 2022
Family Couple Consultations With A Lawyer Or Insurance Agent. Law
7 Tips on How to Begin Your Debt Resolution Program the Right Way

Beginning a debt resolution program can fill us with both hope and anxiety. You have finally taken the first step toward slashing interest payments and calls from collectors out of your life, but you may be worried about making a mistake and ending up in a worse situation. The following 7 tips will ensure that your debt resolution journey is as effortless and successful as possible.

May 13, 2022
Real Estate Agent With House Model And Keys
Tips on Buying a Home After Debt Settlement

If you’re working out your money management problems through debt settlement, congratulations! Settling debt gives you a clean slate to start new. Here are 5 tips on buying a home after debt settlement.

May 11, 2022
Midsection Of Young Female Doctor Holding Piggybank In Clinic
How to keep your mental, physical, and financial health on track

It is ever more important to make sure you are keeping your mental, physical, and financial health on track. With the added stress of seeing your dollars dwindle and your debt mounting, it becomes very easy to let your mental, physical, and financial health go by the wayside. Once one aspect of your health(?) tumbles, the others follow. Here are ways to keep your mental, physical, and financial health on track.

Apr 28, 2022
Couple Signing Contract. Legal Document Health Insurance Paper Or Bank
5 Things Not to Do During Debt Settlement

If you are considering debt settlement, there are some things you should definitely keep in mind to ensure the process plays out smoothly and allows you to get your financial life back on track.

Apr 18, 2022
Afro Woman With Problem Using Credit Card For Online Shopping
3 Reasons Why People Stay in Debt – And How to Fix It

How do families end up drowning in debt for years? The answer may surprise you. Read on to discover the top 3 reasons why people stay in debt and get solutions to these common problems.

Apr 14, 2022
Parents Carrying Son On Shoulders On Beach Vacation. African Family
7 Benefits of Life After Debt

It’s easy to keep kicking the can down the road when it comes to paying off your debt. Soon the interest starts adding up, making your debt even more unmanageable, until you trip into a debt spiral. That’s why it’s so important to find motivation by reminding yourself of the benefits of eliminating debt. In case you need a refresher, here are seven benefits of life after debt.

Apr 4, 2022
Business Man Hand Hold Credit Card To Shopping Online On
How a Lower Monthly Payment Can Transform Your Finances

Many are struggling with high minimum monthly credit card payments, where much of the money paid goes toward interest balances rather than paying down the principal amount owed on each card. Read on to learn how a lower monthly payment can transform your finances.

Mar 11, 2022
House And Car Purchase Contract
Unsecured Debt vs Secured Debt – What’s the Difference?

There are generally two categories of debt: secured and unsecured. The primary difference between unsecured debt and secured debt is collateral. Secured debts are backed by collateral, while unsecured debts are not backed by collateral.

Mar 9, 2022
Paying The Credit Card Bill Minimum Payment.
2 Shocking Downsides to Only Making Minimum Credit Card Payments

Unless you’re in a serious financial crisis and you need to save cash for a couple of months, only paying your minimum payment is a poor financial strategy that could end with DEVASTATING financial consequences. Read on to learn the 2 shocking downsides to only making minimum credit card payments.

Mar 1, 2022
Retail Credit Card Payment Service. Customer Paying For Order Of
Credit Card Sign-Up Bonus: Too Good to be True?

Credit card companies will do everything they can to get you to sign up for their card, including offering certain sign-up bonuses. These companies will pay you just to spend money using their card in the form of rewards like airline miles or even just cold hard cash. The reason why they can offer rewards like this is that they know there are enough people out there who will spend money they do not have and be forced to pay interest on their cards each month. The interest may seem like a small fee to pay, but in the long run, it can snowball quickly.

Feb 17, 2022
Coins Money Setting Growth Up Increase To House Model For
How U.S. household debt increased by $1 trillion in 2021, and how to decrease it

Inflation levels are hitting historic heights day by day, and the consequences have already started to show. U.S. household debt grew by a whopping $1 trillion, which is the highest increase since 2007, right before the housing bubble.

Feb 15, 2022
Credit Cards And Banknote
American Credit Card Debt Continues to Soar

Soaring American Credit Debt: Credit card debt is in dangerous territory. How dangerous? Let’s put it this way: Our total plastic balance is very near recession level. Read on to learn more.

Feb 2, 2022
House and Money
What’s a home equity loan?

After years of making payments on a home mortgage, the home starts to build equity. A home equity loan is when the homeowner takes out a loan using the home as an asset to get a lower interest rate.

Sep 18, 2020
Personal Loan Application Form
How to Get a Personal Loan

First off, to get a personal loan you will need to have a good credit rating. Applying for a loan with a poor credit rating will most likely lead to denial. Or if you do find a willing lender with a poor credit score, the interest rate will likely be sky high.

Sep 18, 2020
Purchasing Car In Debt
Important Factors to Consider When Purchasing a Car While in Debt

Cars are fickle things that require a lot of maintenance. Oil changes, tire rotations, and yearly tune-ups are all part of owning a vehicle. Unfortunately, the financial aspect of purchasing a car can be equally fickle, especially if you’re in debt. Debts are more of a factor than ever in purchasing a new auto: Experian […]

Feb 5, 2020
Debt and Marriage
Debt and Marriage- What You Should Know Before You Say ‘I Do’

It’s quite interesting the phrase “for richer or poorer” is part of most wedding vows, as it implies that your spouse’s financial situation is in fact, a critical aspect of any marriage. This is more relevant than ever, given the present situation of younger Americans today.  Whether it’s from credit card debt or student loans, […]

Sep 11, 2018
Consumer Debt in America
Consumer Debt in America-Where Our Country Stands Today

As Americans, we’re pretty much all in debt. How bad is the debt crisis exactly? That depends on who you ask. And when. The Federal Reserve keeps a close eye on trends influencing lending, debt, and the overall economy. A new quarterly report is released every three months. The Federal Reserve report in June 2018 […]

Aug 27, 2018
Debt After Death
What Happens to Your Debt After Death?

We humans spend an inordinate amount of our lives worrying about death. Increasingly, Americans are concerned financially about their families after their demise. According to the Federal Reserve, leaving your family with big bills could be more of a problem now than ever: household debt recently hit a record high of $13.29 trillion. Everyone should […]

Aug 22, 2018
Breakdown of Interest Rates:
The Breakdown of Interest Rates

On the surface, borrowing money seems straightforward: a friend loans you twenty bucks, and you give it back when you get paid. Easy. If only the rules were so simple with banks and credit card companies. However, these types of debt come with interest rates. Interest rates are often the most confusing part of loans […]

Aug 20, 2018
Millennials in Debt
Why Are So Many Millennials in Debt? The Hip but Ugly Truth

Millennials are known for their love of travel, social media, and avocado toast. But increasingly America’s millennials are being defined by debt. Since they are now the country’s largest generation—83.1 million people, according to the US Census Bureau—the millennial debt crisis is a national issue. Millennials are the most indebted generation in history. A quarter of all […]

Aug 15, 2018
Minimum Credit Card Payments Don’t Work
Minimum Credit Card Payments Don’t Work — Here’s Why

Credit cards aren’t necessarily bad for your financial health. As long as you spend responsibly and pay your balance in full every month, a credit card can be a convenient and useful tool. But some consumers bite off more than they can chew. In other words, they’ll accumulate credit card debt faster than they can pay it off. Consequently, they’ll carry a balance from month to month and pay only the minimum amount due — if they can afford to do even that.

May 17, 2018
Credit Debt and Society
The Cost of Carrying Credit Card Debt to Society

Before we discuss those societal costs, however, some context is needed. American consumers these days have much easier access to plastic. Credit access dipped sharply since the height of the Great Recession but has climbed steadily since. As a result, America’s collective credit card tab has also grown within the same period — to the tune of $834 billion as of the fourth quarter of 2017. That figure is now just over $30 billion away from the highest total ever recorded, at the end of 2008.

May 11, 2018
Unsecured debt and bankruptcy
Unsecured debt & bankruptcy in the United States

Unsecured debt has a direct correlation to bankruptcy in the United States. Just this year alone the total amount of unsecured debt has increased to 1 trillion collectively. According to HuffingtonPost, some of the most common factors that cause bankruptcy are medical bills, job loss, student loans and divorce. With the amount of debt increasing, consumers should start considering budgeting expenses and freeing up cash flow. However, for some it might be too late to take precautionary measures that should have been taken years ago.

Apr 20, 2018
Credit Cards Encourage Overspending
Credit Cards Are Encouraging You to Overspend

If you think that a credit card can’t “force” you to overspend, you’re both right and wrong. People are ultimately responsible for the choices they make; that’s true. But decades of research have found that people aren’t always completely in control when using cards instead of cash.

Apr 20, 2018
California Credit Card Debt
Nearly 6 out of 10 Credit Card Holders in California are Using Too Much Credit

As many people learn in adulthood, access to credit is important. It helps them build a solid credit history, which in turn helps them buy a house or rent an apartment. However, having such easy access to credit can also lead to irresponsible financial behavior. Spending beyond their means is a common mistake among credit card holders.

Apr 18, 2018
national debt clock
These States Have the Highest Amounts of Credit Card Debt

Some states are reaching new heights — but not the kind to write home about. According to Experian’s latest State of Credit report, the following states carried the highest average credit card balances in 2017:   State Average Credit Card Debt Alaska $8,515 Connecticut $7,258 Virginia $7,161 New Jersey $7,151 Maryland $7,043 Hawaii $6,981 District […]

Apr 18, 2018
Credit Charge-Off Impact
The Impact of Low Charge-Offs on Credit Card Debt

According to a recent study by WalletHub, U.S. consumers have managed to rack up over $1 trillion in credit card debt. In the last year alone, the amount of debt accumulated was a whopping $92.2 billion. This figure is the highest it’s been since 2007, the study adds.   Why has this happened? Low charge-off […]

Apr 4, 2018
What Causes Credit Debt?
The 5 Leading Causes of Credit Card Debt

Americans have amassed more than $1 trillion in outstanding credit card debt – a record high, according to the Federal Reserve. In its annual State of Credit study, Experian reports the average American is carrying a staggering $6,354. What leads to such a high amount of debt? Overspending. As the economy has steadily improved since […]

Apr 4, 2018
The Best Ways to Loan Money to Friends and Family

Most of us are fairly generous people, and we want to help a family member or friend when we can. But the fact is, a person who can’t get a personal loan from a traditional source often has damaged credit or no credit, both of which make such a borrower a greater credit risk. (There are also […]

Mar 4, 2018
Retailer Credit Cards
The Real Reasons Retailers Push Branded Credit Cards

When shoppers hit the counter of their favorite retailer this holiday season, they may be asked to sign up for the store’s branded credit card in exchange for a discount on their purchase. The cards are often a better deal for the stores than they are for consumers. There are some perks to consumers—store cards, […]

Mar 3, 2018
Wedding Loans
So, You’re Getting Married! Will You Need a Wedding Loan?

Congratulations, you’re engaged! Of course, unless you’re planning to elope, you’re going to need a lot more than luck to get through your wedding day. How you decide to pay for your wedding will be one of the first important decisions you make as a couple — and there’s a chance you’re thinking about getting one […]

Mar 2, 2018
Two women chatting about how to get a loan
Obtaining A Mortgage After Bankruptcy

It is still possible to purchase a house after filing for bankruptcy. It can be challenging and you will have to wait some time before your finances are able to bounce back but it is doable. The most common guideline you’ll have to follow to purchase a home after bankruptcy is to go through a […]

Feb 22, 2018

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