Better Credit Blog

APRIL 11, 2022

Since more Americans are under pressure to resolve their debt, we’ve outlined several strategies that reduce or eliminate this financial liability. What is Debt? Debt is the amount of money you owe to a lender or creditor. Some examples of debt are mortgages, credit card dues, and personal loans.

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Sawin & Shea

AUGUST 9, 2023

You aren’t allowed to pick and choose which debt you want the bankruptcy to apply to. Briefly, unsecured debts are not backed by any collateral and include things like credit card balances and unpaid medical bills. Creditors cannot reclaim any of your property if you default on a loan. What other debts do I owe?

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Titan Consulting

AUGUST 23, 2020

In many cases, you may also lose certain secured assets like homes and cars in a liquidation to pay your creditors some of what you owe. Chapter 13 is a debt reorganization that requires you to repay debts within three to five years. Filers can typically retain the home and vehicle as long as you make payments on the loan.

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Debt Guru

JANUARY 27, 2021

A debt management plan (DMP) is an agreement between a debtor (that’s you, the person in debt) and a creditor (think: your bank or your credit card company) that tackles your outstanding debt. Unsecured debts, such as credit cards, store cards and personal loans, can be part of your DMP.

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Debt Recoveries

OCTOBER 24, 2021

When writing your budget and listing all your outstanding debts, work out which of those debts are incurring further fees and interest, such as credit cards and loans. Talk to your Debt Collector. Don’t be afraid of approaching your creditors and debt collectors and talking to them.

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Titan Consulting

APRIL 26, 2020

Amid economic uncertainty, and lockdowns extending through April and possibly into May, it is tempting to call creditors requesting payment extensions. What Happens to Student Loan Debt After a Forbearance Ends ?

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Credit Corp

JULY 10, 2023

Start by gathering all your financial statements and creating a comprehensive list of your debts. This includes credit card balances, student loans, medical bills, and other outstanding obligations. This knowledge empowers you to make informed decisions and prioritize debt repayment strategies.

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Collection Industry News

JANUARY 13, 2024

The largest increase in any category was credit card debt, which swelled by 16.6% Auto loan and mortgage debt increased by 4%, while student loan debt saw a modest rise of 1.6%. It is important to remember that household debt is primarily composed of mortgages, auto loans, credit cards and student loans.

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Titan Consulting

SEPTEMBER 8, 2020

Making just the minimum payment required each month on credit card debt will maximize the amount of interest you pay to creditors. Creditors want you to make minimum payments even though they know it’s terrible for your financial wellbeing.

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Better Credit Blog

JANUARY 20, 2022

The firm’s flagship service involves negotiating with creditors to reduce what you owe in exchange for paying off a certain amount as a lump sum. If you sign up to Freedom Debt Relief’s program, an advisor from the company will: Offer you a free financial evaluation as the first step. About Freedom Debt Relief. Ads by Money.

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Creditors Credit Card Debt Unsecured Debt Debt settlement 76

Credit Corp

APRIL 11, 2023

In the most basic terms, your credit utilization is the amount of debt you owe in comparison to your overall credit limit. Things like mortgage loans, car loans, and student loans aren’t included. However, some creditors look at revolving accounts separately. What Is Revolving Credit?

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Credit Corp

MARCH 3, 2021

Debt Payoff Plan. Once your budget is set up, and your debts all listed in order of interest rate, make a plan to pay them off. For example, do you first start paying your student loans, or your credit card? For sure, your monthly surplus will go toward paying down the debt. But which debt? It depends.

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Credit Corp

MAY 4, 2021

For instance, work on getting rid of your high-interest credit card debt before moving on to your federal student loans. Becoming debt-free is a big goal that will likely take a long time to accomplish. You’ll make progress quicker, and progress leads to persistence. Calculate Your Credit Card Payoff. Set Micro-Goals.

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