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Is It Better To Declare Bankruptcy or Debt Consolidation?

Sawin & Shea

When you are overwhelmed by debt, you may start to wonder if declaring bankruptcy or pursuing debt consolidation is the better option. Understanding the key aspects of each can help you determine what is better, bankruptcy or debt consolidation, for your situation. The court reviews your finances to prevent fraud.

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How Does a Debt Consolidation Program Work?

Titan Consulting

Debt consolidation might include a debt management repayment plan, credit card balance transfer, personal loan, or equity line of credit. The main strategy in any debt consolidation strategy involves replacing one debt with another debt, usually with a lower interest rate or monthly payment.

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Debt After Death: 9 Things You Need to Know

Credit Corp

If beneficiaries can’t or won’t assume the loan, they can sell the property to settle the debt instead. If your loved one doesn’t have any beneficiaries listed on their will when they die, their mortgaged property may go into foreclosure. At that point, their bank will sell the property to recover the mortgage debt.

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We’re Debt Free [And How You Can Do It]

Credit Corp

My Debt-Free Life Started Late in My Adult Life. After buckling down for about seven years, my wife and I were able to pay off our home mortgage, vehicle loans, credit card debt , recover from a prior-foreclosure, and set us up to retire with over a million dollars in my employer-sponsored retirement fund.

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Consolidating Your Debt? Here’s What NOT to Do

Debt Guru

You pay off multiple types of loans and credit card balances with your new consolidation loan, and you’re left with a single monthly payment to the new lender. Debt consolidation can be a great tool to get out of debt faster – but only when it’s used correctly. But it can be a complicated, and sometimes scary, process.