Category Archives: Debt and Credit

The Difference Between Consumer and Non-Consumer Debts

It’s imperative that you know the difference between consumer and non-consumer debts and how each may affect your credit and your lifestyle. The difference in the two types of debts lies in the manner they’re treated when it comes to taxes, annual percentage rates, terms of agreement and collateral you may offer. A non-consumer debt is usually covered by an asset which is expected to appreciate in value, such as a home. The asset acts as collateral for the loan you receive from a lending institution, meaning […]

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Credit Counseling Agencies – Do They Really Help?

Credit counseling or debt management services can help you get out of debt by providing you with a debt management plan to pay off your current debts. Never use a for-profit credit counseling agency. Non-profit agencies are available that will not only help you get out of bad debts, but which will also help you consolidate your outstanding loans such as auto and student loans. Your initial contact with a non-profit credit counseling agency will involve a meeting with a credit counselor. He or she will ask […]

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DEBT: A Four Letter Word That Could Ruin Your Life

We all know that too much of a good thing isn’t good for you. Too much debt isn’t good for you either – but neither is too little debt. When you’re in debt to the point that you can’t make payments on time and your credit score tanks, it can make your life miserable. Some necessities, such as a home in which to live or a car to drive to work and back, may not be available if your credit score is low. If you have no […]

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