People borrow money to make purchases for which they do not have the cash to pay the entire price. Debt can be useful when buying a house or investment property. It can become a burden and obstacle to saving and investing when used to buy cars, or accumulated on credit cards as a result of deficit spending.
Missing payments will hurt your credit score and make it more difficult for your to borrow money in the future. What happens next depends on whether you've defaulted on private or federal loans.
Refinancing your student loans can save money. Before you do, make sure you’re not making any of these five costly mistakes.
Buying a new home is exciting, but before you sign your name on the dotted line, you need to ask — and answer — a few key questions about your loan.
Mark and Bethany were surprised to learn that paying an additional $30 a month to American Express could generate additional cash for their retirement.
Katie co-signed some student loans for her daughter to attend college. Originally, the loans were with Sallie Mae. Later, they were transferred from Sallie Mae to Navient. Katie is being told that the loans will not qualify for Public Service Loan Forgiveness. Can she can do anything to fix this situation?
If you live in the Buckeye State, listen up. Here's the ultimate guide to forgiveness and repayment programs for your Ohio student loans.
Have you paid off debt only to be back in it again? Student Loan Hero provides eight expert tips for paying off debt that will have you living debt-free once and for all.
Regardless of your circumstances, you can avoid default and delinquency - even if you have no job. The federal government has several repayment plans in place that allow borrowers to pay what they can afford rather than what they owe.
Have you ever wondered if you are paying off debt the right way? More than likely, you are making one of these ridiculously common mistakes. Here are 14 of the biggest mistakes from Whitney Hansen.
There are plenty of reasons to consider a cash-out mortgage refinance to pay off your student loans. However, it isn’t necessarily the best option to eliminate your student debt.
The best credit card is probably no credit card. But if you must, avoid paying too much.
Premium credit cards advertise special perks and bonuses. Are the rewards enough to justify the big annual fees?
You've got student loan questions. You should, as you have many options when it comes to student loans for college. SimpleTuition provides some answers.
There are many dangers associated with co-signing a student loan. Understanding those risks can help you avoid them.
Do you have a need for cash? Does that money in your 401(k) plan look irresistible? Although there may be times when it can make sense to borrow from your retirement plan, carefully consider the reasons why you shouldn't do it.
Everybody's situation is different. A number of factors must be considered for each household. Any decision that involves significant amounts of money should be carefully examined. Liquidity, cash flow, taxes, asset allocation, foreclosure risk, and peace of mind should all be considered.
Are photos of your friends enjoying great vacations tempting you to use a credit card for a vaca of your own? Don't. Charge just $1,000 on your credit card at a 15% interest rate and make the minimum (assuming that’s 4%) monthly payment. It’ll take you over 5 years to pay it off.
Furniture can be quite expensive, and it can be very easy to walk out of a furniture store with a huge bill. However, no matter how enticing those financing offers may be, please remember that you will eventually have to pay the full cost. Too many people get caught up when they think about the monthly payments, but it’s the full cost that is important.
Even if you don't have a job or can't afford your student loan payments, there are many steps that can be taken to make your debt manageable.
Those rewards points can be tempting, but don't do it if you don't have the cash...or the discipline...to pay off the new debt.
This is a process that happens on a daily basis for larger lenders. Your prospective lender should be able to answer questions about the process with Navient.
Can you deduct the interest on a reverse mortgage? Michael Kitces explains taxation of reverse mortgage loan proceeds and interest payments, including the deductibility of reverse mortgage interest, MIP, and real estate taxes.
Thinking about consolidating or refinancing your student loans? Here are five of the most common misconceptions about student loan consolidation.
Credit cards might be your only option to start or expand a business. Although this article is a credit card company promotional piece, there is some wisdom in the rules.
One couple made some short-term sacrifices to eliminate years of payments.
Undergraduates who take out federal loans will pay almost 20% more in interest. The U.S. government is raising prices for new student debt, adding hundreds of dollars to the cost of the typical federal college loan.
In addition to closely monitoring your account for unauthorized purchases and setting text and email alerts and maximum ATM withdrawal limits on your cards, you may want to explore a tap-and-go contactless card or mobile pay apps such as Apple Pay or Samsung Pay rather than dip your chip.
The review is in. Even though Federal Student Loans have major disadvantages, they are still a better choice over private lenders.
With a simple phone call, you may be able to avoid the annual fee, get a late fee waived, reduce your interest rate, or raise your credit limit.