FP | March 16, 2009
Before I go into more details about what’s the difference between debt consolidation and debt elimination I would like to get to the core of the problem. Some facts about debt: The debt-to-income ratio in the second quarter of 2008 continued to climb, reaching 130.9%. Now this is dumb! But what does this mean? For [...]
FP | March 15, 2009
The Only Way to Get Out of Debt: The answer is not the interest rate BUT changing your habits. You need to commit to getting on a written game plan and sticking to it. Get an extra job and start paying off the debt. Live on less than you make. It is not rocket science, [...]
FP | March 14, 2009
Debt Consolidation:multiple debt or credit lines and consolidating them into one new payoff plan. Frequently, this is a consolidation loan, provided to consolidate debts into one loan with one payment, typically shifting credit card debts to secured debt by refinancing a mortgage. It could also refer to a credit counseling or debt settlement program. Debt [...]
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