A few weeks ago I talked about something called debt creep. This is the process of buying small things with your credit card that add up to a large debt over time. A good example is buying a latte every day and over time you realize that you have a few hundred dollars or more…
Today debt can be obtained in a bunch of different ways from credit cards, payday loans, mortgages, to medical bills. However this article is going to cover one method millions of people attain debt by these days, I call it debt creep. I know that term sounds a bit corny but just hear me out…
Yup you heard me right, I paid off $6500 of credit card debt over a 2 month period. Sounds kind of impossible unless you has some sort of nest egg or someone to loan you the money but the reality is I didn’t need any of that. Over the last two months I’ve had a…
“Debt” is a scary word, especially to young adults. Owning a faceless credit card company or bank money doesn’t sit well with many people. And that fear shouldn’t have you scouring Google for more info about payments, debt collectors, bail bondsmen, and more. As a young adult, right now is when you’re supposed to be…
Many of you who have been around for some time on Stumble Forward know that by following my entire series on building my new house that it’s been a daunting project. It’s been stressful physically, mentally, and financially. In fact, as a direct result of building my house I’ve ended up with around $6000 worth of…
For many, becoming debt free for life seems like an unattainable goal. Yet by learning how to control debt, living debt free is not only possible but a likely outcome. With New Year’s right around the corner, now is the time to start thinking about the resolutions you will make for 2013, and living debt…
The statute of limitations on debt is complex, because there is not one statute but rather many statutes governing how long a collector has to contact or sue you for a debt. These statutes change according to the type of debt, amount of debt, and even the state in which you live (or that was…
While debt to income ratio might sound like a metric more suited to accountants and financial professionals, your personal debt to income ratio is something that you should know and track. For starters, financial institutions use the debt to income ratio in determining whether to grant you credit, including loans for mortgages. Additionally, the debt…
Congratulations on getting out of debt. As much as most people want to live debt free, few get the chance to ask I’m out of debt now what? The steps that you take now will determine how long you stay debt free and how strong your finances become, so it’s an important question to ask….
It seems that ever since the recession, instant cash loans have been everywhere as traditional sources of loans dried up for all but the most creditworthy borrowers. However, despite what they may want you to think, cash lenders and instant payday lenders aren’t cropping up to help the disadvantaged. Like any other opportunists, these predatory lenders see…