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Debt Relief Archives

Scams take advantage of students with high loans

Debt comes in many forms, but some of the heaviest debts in the nation are from school loans. Student loans are often high, some growing into the hundreds of thousands of dollars. Students struggling to pay them back may jump at the idea of loan forgiveness, but there are dangerous scams out there that could lead to more financial trouble.

Living with debt: The problem today's youth faces

Having debt as a young adult is definitely something that impacts you. You might have just graduated from college with high student loan debts, or maybe you have high credit card debts from spending too much as a teen. Whatever the reason is for your debts, they affect you in almost every aspect of your life. If you want to go out on the town, your funds might be limited because of high credit card payments. If you want to rent an apartment, you could find that your credit score holds you back, especially if you have missed student loan or credit card payments.

What can I do to stem my debt after losing my job?

The loss of a job can bring a variety of challenges and stresses. Of course, your primary concern is getting back into the workforce as soon as possible. But in the meanwhile, you will likely need to take some proactive steps to minimize your debt until things turn around for you.

A few personal adjustments can help you avoid debt

When it comes to managing finances, most of us have a fault or two. Maybe it's spending too much on dining out when it would cost so much less to eat at home. Or maybe you bought that new SUV when a hatchback would have been better for your bank account. But if you are willing to make some sacrifices, you probably can manage to afford those less than practical extravagances.

Sudden wealth leads many into debt

There is an idiom which goes "be careful what you wish for, you may get it." This saying is a warning that your fondest dream may actually turn out to be a nightmare. Take for example winning the lottery. It may seem that nothing could be better than plunking down a buck or two on a ticket and getting back millions of dollars. But the reality is that lottery winners often end up worse off financially than they were before their numbers were drawn.

What should I do when a debt collector calls?

It's easy to become a nervous wreck if every time the phone rings you're afraid to answer because the person on the other end of the line may start demanding money. Debt collectors are well aware of the anxiety caused by their prodding phone calls. Of course, their strategy is to keep calling and calling with the idea that you will eventually pay them off just to put a halt to the harassment.

Proposed payday lender regulations face opposition

From time to time, a payday loan can serve to get you out of a jam. If you are in a tight spot and have to deal with an emergency or unexpected expense, having access to some quick cash can be very handy. But payday loans only really benefit borrowers who can pay off the debt in a timely manner.

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