How Do You Spell Debt Relief?

Written by Tim Gorman


Of allrepparttar problems possible in a marriage, finances causerepparttar 146408 most marital discord. Many singles consider finances to be their most worrisome issue. Many times this is due to a heavy debt burden. Several options exist to help people get debt relief from their unsecured debts. (Unsecured debt is not linked with a physical asset. Therefore, credit cards and medical bills are unsecured debts; a car loan or a mortgage are secured debts.)

One option for debt relief is bankruptcy. While unsecured debts are indeed discharged,repparttar 146409 long-lasting black mark on your credit report (up to ten years) makes bankruptcy less than ideal as a form of debt relief. Further, changing bankruptcy laws will make it more difficult to file. Bankruptcy should only be a last resort. It is not a quick fix.

Another option is debt consolidation. Debt consolidation combines your existing loans into one loan. While this does away with late fees and over-the-limit fees, very little is done to reducerepparttar 146410 amount of debt or to renegotiate interest rates. Further, this uses something as collateral, such as your house. If you still have trouble paying, you could lose your house to foreclosure.

A third option of debt relief is debt settlement. The debt settlement company negotiates with credit card companies to agree to settle for a lesser amount owed, often pennies onrepparttar 146411 dollar, of bothrepparttar 146412 interest andrepparttar 146413 principle. A debt settlement company also acts asrepparttar 146414 middleman betweenrepparttar 146415 debtor andrepparttar 146416 credit card companies, eliminating phone calls that border on harassment. A downside to debt settlement is that many debt settlement companies advise you to stop paying your monthly bills altogether in order to force credit card companies into settlement. While this may work for some credit cards, others may be just as likely to take you to court for non-payment, and debt settlement companies take no responsibility for such action.

Financing a Home With Bad Credit

Written by Carrie Reeder


Financing a home with bad credit is a common problem for people. Over 25% of homes inrepparttar US are financed through sub prime lenders, who offer financing to high-risk borrowers. While sub prime lenders charge higher rates and fees, through comparison shopping you can find a competitive financing offer.

Check Your History

Check your credit score to know what type of rates you can expect. If you have a score of 600 or lower, a down payment will be required between 5% and 20%. You should also check thatrepparttar 146357 information on your credit report is correct.

Place A Down Payment

The larger a down payment,repparttar 146358 better terms you can secure for financing your home. One ofrepparttar 146359 benefits of a down payment of 20% is that you do not have to pay PMI, saving most homeowners around a hundred a month.

Pre-Qualify

Before you beginrepparttar 146360 process of purchasing a home, pre-qualify for a mortgage loan. Determine ahead of timerepparttar 146361 monthly payments you can afford, and then base your home purchase decision on that loan amount. You can also negotiaterepparttar 146362 terms of your loans, especially with a down payment.

Compare Financing

Lenders donít chargerepparttar 146363 same rate, so it is best to compare rates and terms. Fees are one ofrepparttar 146364 hidden costs of loans, so be sure to add them intorepparttar 146365 total price ofrepparttar 146366 loan when comparing prices.

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