Within this short guide you聮ll find the most important online financial options available for you. There are financial products for every credit situation and this guide will explain all you need to know before you start your search.
Consolidate your debt with a Loan
There are many loan options for those who want to consolidate their debt. If you own a home you can consolidate by applying for an equity loan. The equity you聮ve build on your home will provide all the finance that you need to cancel your outstanding loans and other debts. You can also refinance your home mortgage for a larger amount than the outstanding mortgage loan and use the extra cash to cancel the remaining loans, bills, credit card balances and other debts. Though harder to qualify for, you can also apply for an unsecured loan. This kind of loans let you consolidate your debt by using the money to repay credit card balances, loans and bills without having to use an asset as collateral avoiding the risk of repossession.
Debt Consolidation Agencies
There are also certain agencies and professionals that can negotiate with your creditors so as to lower the interest rates, extend repayment schedules and sometimes, even cut a considerable percentage of your debt that can reach up to a 60%. Usually this companies and professionals charge a small fee for their services, considering the large amount of money they will be helping you save, it聮s not such a big sacrifice. Besides the fact that you聮ll get a cut in the interests you pay for finance, the most important thing is that you聮ll be paying down the loans principal and thus, reducing progressively yourdebt till you become debt-free. Consolidating Debt will provide fresh air to your credit situation and will solve the problem of harassing calls from debt collectors. There are many alternatives for debt consolidation but as any other financial decision a lot of thinking must be done and rushing in is not a wise choice.
Divorce In A Bad Economy - Should You Do It? Finance Articles | July 20, 2011 Tough times can make couples more financially dependent on each other, which could keep unhappy couples together. The economic stress adds fuel to an already emotionally difficult situation such as divorce. If you are a couple considering a divorce during these uncertain times, here is some information to consider.
Can you afford to divorce? You first need to understand the financial impact of dividing one household into two. Here are questions to ask yourself as you look at the options.
1) How much money will I need to live on post divorce? Create a realistic, post-divorce budget, breaking it down into three categories:
Determine what you will need to survive - basics such as food, shelter, clothing, insurance, minimum credit payments and medical.
Decide what makes your life livable ? such as hair, nail and beauty treatments, cable, dining out and entertainment.
Eliminate or drastically reduce creature comforts. In times like these, you just can't afford the luxury of these pleasing yet unnecessary items.
Next, add up the list of all potential sources of income. This includes salary, child support, maintenance and more. Subtract taxes and budgeted living expenses from total income to determine whether you will have a shortage of cash or money left over each month. Since you cannot spend more than you bring in, the budget is an important piece of this puzzle.
2) Should I keep the house or take more of other assets? Create a desirable property division scenario and compare it to a budget to determine if you can afford to stay in the house or refinance to buy out your spouse. If you are thinking of selling the house, include selling costs in your calculations.
3) What will my financial situation be like in three to five years after the divorce?
Project out how long your savings may last you. This is crucial if you need to tap into investment or retirement accounts to cover any monthly cash shortage. This is a very important step, and you should look at this issue very carefully. Be realistic with yourself about your expenses and spending habits so you can get a true idea of how long your savings will really last in the real world.
If you must tap into retirement accounts, remember that taxes are embedded in all retirement funds. Account for taxes, plus the 10 percent IRS penalty, when withdrawing retirement funds before age 59 ?.
The double whammy of cash flow limitations and the fluctuating value of investments call for creative solutions. A realistic, forward-looking budget, combined with a well-thought out division of property, could save you money and make life easier in the long run. Remember, you have only one chance to make the right decision.? China has more than 220 million people over 60 years old， 16. 9 (Xinhua) -- In the first nine days of December, four international events held in China caught President Xi Jinping's eye -- he either attended or wrote congratulation letters to them. Roll up the unused portions of your cord and hold them together using the Velcro tape for any clean and tidy appear. This means that you will be able to earn even more money than if you were to opt for the services of an agent.
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09.09.2019 05:05
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