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Determining Your Debt-to-Income Ratio

Debt Guru

Or you got a loan with tax-deductible interest, like your student loan (provided you have utilized that ONLY for tuition, books, and rent). Bad: You signed on for a high-interest personal loan to cover that vacation last year. Or you’re still working to pay off your variable-interest auto loan from seven years ago.

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8 Ways to Consolidate Credit Card Debt 

Credit Corp

Credit Card Consolidation Loans A credit consolidation loan is a type of unsecured personal loan that comes with a set repayment period and fixed monthly payments. For a credit card consolidation loan to make sense, the interest rate needs to be lower than the interest rate for your credit cards.

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Credit card debt is surging at a record-high rate

Collection Industry News

Credit counseling agencies offer free or low-cost debt relief services to consumers who are struggling to manage their finances. A credit counselor may help you by: Analyzing your income, expenses and outstanding debts to create a budget. Debt consolidation loans are another popular way to pay off credit card balances.

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How to Repay Debt: 4 Options

Debt Guru

Reach out to a credit counseling agency. Your credit counselor will likely get you a lower minimum payment and lower interest rates. A possible negative is that when you’re working to pay down a DMP, you won’t have access to your credit cards. The complication is that you typically need good credit.

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Seven Ways to Get Out of Debt in 2022

Better Credit Blog

Some examples of debt are mortgages, credit card dues, and personal loans. Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. They may still be responsible for paying a portion of the loan. What is Debt? But that’s not all they do.

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How to Get out of a Debt Spiral–11 Easy Things to Do [TODAY]

Credit Corp

When you can’t control your debt spiral on your own, you should contact credit counseling agencies first. They help cash-strapped credit cardholders to eradicate debts and establish a stable financial life. Credit counseling agencies offer this plan in exchange for a fee. Credit counselors are working in the debt industry.