First things first, what is a statute of limitations on debt? A statute of limitations is the duration of time which debt collectors have to file a lawsuit to recover a debt. It is a rule restricting how long a creditor can sue you for the payment on that debt. All consumer debts, from credit card balances to medical bills,…
Wages garnished are used to repay debts. Wage garnishment is a judgment by the court making it mandatory that a portion of your income be applied to your debt balance. More than 90% of people who are sued by creditors simply do nothing. Of course, this is probably the worst thing you can do when faced with a judgement. Often…
Let’s cut right to the chase; an alarming number of Americans are carrying debt into retirement, including student loan debt. According to the Federal Reserve, Americans over the age of 50 owed more than $260 billion in student loans in 2018. What’s the average debt of retired Americans today? The biggest threat to retiring Americans today may not be saving…
Credit cards seemed like such a good idea at 25… To purchase something with the assurance that you will pay in the future is what’s called “Credit”. Generally in this situation, the form of credit will be credit cards. Actually, credit depends on what you buy and where you shop from. This is the reason why marketing executives and businessmen…
Priorities for your money – Needs before wants. While some of our expenses are naturally more vital than others, some are by our own choices. Most people, especially the younger generation, constantly complain that they don’t have enough money. If you see their income and bank accounts, this really isn’t the case. It’s just they fail to keep track of…
Sometimes, we need help overcoming debt. When your debt becomes out of control and you don’t know what to do, the best option may be to seek a credible debt relief company. It’s a given that debt settlement may affect your credit, but most people would agree that it’s a better option than bankruptcy. Now the question is, how can…
Cryptocurrency – a new way to spend At the dawn of a new economy, the 21st century Unicorn termed as ‘Cryptocurrency’ is a side product of Digital cash. While it is being accepted by the overwhelming community of people; even the bankers, consultants, developers, scientists are ignorant of its features. In simple words, Cryptocurrency is a virtual currency, most notably…
Let’s talk about bankruptcy. Bankruptcy is an authorized process supervised by national bankruptcy courts. It’s intended to help individuals and businesses remove all or part of their debt and can also help them save a share of what they are in debt of. Most business or individuals that make this decision, understand that afterwards, they’ll have to recover from bankruptcy….
People are shifting their way of purchasing goods, but are they making a good decision? When we talk about the current credit card market, there are two major things on the rise in recent years. First, card rewards and incentives are increasing, and second, credit card debt is rising in conjunction. Think about it like this: The upward trend in…
How can budgeting apps help you take control of your debt? Let’s get to the point without sugarcoating it—it’s tough to keep record of your finances. With debts to pay, bills to deal with, receipts to track, not to mention keeping your finances in the best condition possible. It’s a lot for anyone to handle, even without sever debt. Many…
