refinancing

Welcome to Part Three of a 6-part series I’m doing on personal loans, credit card debt, and refinancing – the Payoff Series. If you’re new here, go back and check out Part One and Part Two!   Debt consolidation allows borrowers to roll multiple old debts into a single new one. Ideally, that new debt has a lower interest rate that makes payments more manageable or lets borrowers pay off the total more quickly. Many people try debt consolidation, but not all emerge better off. Some borrowers wind up in worse shape, either because they run up their credit cards again or because their debt remainsRead More →

Welcome to Part Two of a 6-part series I’m doing on personal loans, credit card debt, and refinancing – the Payoff Series. If you’re new here, go back and check out Part One! Refinancing credit card debt means paying off your current debt-load with another loan. Refinancing is different than debt negotiation. In debt negotiation or debt settlement, you work with your lenders to reduce the total principal you owe by offering a fast, lump-sum payment. Refinancing means you will still have monthly payments, but they will be to a different lender. The ultimate goal in refinancing is to secure a better debt situation thanRead More →

Last week, I told y’all about a 6-part series I’m doing on personal loans, credit card debt, and refinancing – the Payoff Series. Welcome to Part I! It’s no secret that America is in a debt crisis – student loan debt is in the trillions, the government itself is battling its own debt, and regular consumers are adding mortgages and credit cards to the mix. The average American household has $15,000 in credit card debt, and the average interest rate on those credit cards remains above 13%. Debt Stress is No Joke And how are people handling all that debt? Not well. One in five people considerRead More →