Money Motivations

Debt

Recent Articles in Debt

What’s It Mean To Be In Debt?
Am I in debt? This is one of the questions that we are commonly asked. The answer to this question is not always as simple as it may seem. Millions of adult Americans are in debt, but what does it really mean to be in debt? In America, more than 64 million people carry credit...
How To Bounce Back From Late Payments
One of the riskiest situations you can find yourself in when it comes to managing debt is habitually making late payments. Falling behind on your bills can be caused by many factors — you may not have a monthly budget that’s easy to work with, or you may have experienced an emergency situation wherein you...
Choosing The Best Way To Pay Off Your Debt
Determining the Best Debt Repayment Plan for You The top question I hear as a personal finance educator and credit counselor is, “What’s the best way to pay off my debt?” This isn’t surprising. Debt is a massive financial migraine that can make daily life pretty miserable, and shining a lot of light on the...
Should You Get a Payday Loan?

Is a payday loan right for you? Let’s review some of the largest payday lenders in America, how the loans work, how much they cost, who uses them and why.

Debt Consolidation Loans Explained

Consumers who get debt consolidation loans do not pay off their debts. They simply transfer them from credit card accounts to a new lender. Debt consolidation loans can be difficult to qualify for if the consumer has poor credit, and they can end up creating more debt than the consumer started with.

Medical Debt Relief

Medical bills are unlike typical usual monthly utilities. There is often much confusion surrounding medical coverage, and you rack up a lot of debt in order to pay for it. This is especially difficult given that many have trouble keeping track of their finances, or they don’t have the resources to deal with unexpected financial hardships.

The Truth About Debt Settlement
What Debt Settlement Companies Don’t Want You to Know In the early 2000s, this country witnessed an explosion in the growth of the debt settlement industry, along with a growth in complaints against it. Promising ultra-low pay-offs and preying on consumers’ fears, their distaste for big credit card companies, and even their political partisanship, debt...
The Debt Snowball Method

The debt Snowball repayment method works best for individuals and households who believe that seeing progress in their debt repayment plan as early as possible will keep them the most motivated to complete their plan. The individual or household must also be committed to the method. This plan still demands patience and tenacity to complete. If you choose this plan, your motivation may come early from the possible account elimination you experience in the first few months, but ultimately, it must come from your financial goal of living debt-free.

The Debt Cascade Method

If you are at a point where you can only afford to make your minimum payments and not a dollar more, then the Debt Cascade is for you. Without requiring you to send any additional funds than what you are already sending, the Debt Cascade method will have you out of debt in one-quarter the time of standard minimum payments. You will also end up paying just one-third the interest you would have paid using the minimum payment method.

The Debt Landslide Method

The Debt Landslide repayment method works best for any individual or household looking for a way to maximize the credit-building power of accelerating their debt repayment plan. Such households are often considering home-ownership in the coming one to two years and want to minimize the interest rate on their future mortgage loan.

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