Long Term And Short Term Solutions For Reducing Your Debt

Unfortunately, it’s always a lot easier getting yourself into trouble than it is getting yourself out. You can easily gain a pound by eating a box of donuts, but in order to lose it, you’ll have to cut back 500 calories a day, for an entire week. Or you can quickly destroy the US economy by overspending in Iraq, but when it’s time to “fix” the economy, well… we’re still figuring that out. If you’ve gotten yourself into any amount of debt, you probably understand quite a bit of this phenomenon. It’s a lot easier to max out your credit card than it is to pay back your bills. So if you’re having trouble pulling yourself out of debt, check out these long and short term solutions for reclaiming your financial health. (Read More….)

Getting Out Of Debt Is It A Very Difficult Process?

You may incur debts due to various reasons. It might be that you have to take out a loan for an important purpose such as paying for some medical bills, home repair, your child’s education and so on. This makes you fall in debt which you need to pay back. You can also incur credit card debts due to excessive splurging and buying things on credit and then being unable to pay the entire bill at the end of the month. Whatever be the reason for you to incur debt, it is very much important that you get out of debt fast. Here are some methods that can help you to do away with your debts. (Read More….)

Credit Card Disclosures Cause Consumers to Pay Less Toward Debt [Study]

Opening a credit card statement these days often comes with a bit of sticker shock. Banking regulations passed in recent years now require lenders to show consumers how much their credit card balances will generate in interest and fees if only minimum payments are made to pay it off. For example, a healthy monthly payment of $50 going toward a modest $2,500 balance at 9 percent interest will take over 5 years to pay off and add $645 in interest—a whopping 26 percent of the borrowed amount. (Read More….)