Do I Really Need Help from a Debt Counsellor?
Being indebted is nerve-wracking. It’s like having an enormous load on your shoulders 24/7. The prospect that the situation will remain unchanged for years to come (depending on the size of the debt), is even more horrifying. “Default” and “bankruptcy” start recurring in your mind, and they seem so incredibly efficient that you’re inching towards destroying your own life. Naturally, every person who is in debt looks for methods of getting rid of it. Financial tools like debt consolidation and refinancing can help, to some degree, but sometimes give birth to even more debt. In this case, would debt […]
Should I Know How Much Debt I Have?
There are two types of people in this world: those who cumulate all of their debts to see how much they have to pay, and those who separate their loans to keep themselves in the continuous state of denial – believing that they don’t have such a big debt to pay. Do you even want to know how much you owe? Well, you should. Why Should I Care? Be true to yourself For instance, let’s say that someone has $20,000 in personal loans, $10,000 in car loans and $5,000 in credit card debt. In their minds, it sounds better than […]
Finding the Right Bad Credit Loan
Bad credit loans have proved to be a good credit solution to many people that don’t qualify for a standard loan. The recession or having to deal with getting fired due to a fallen economy has taken its toll on many Australians. An unstable income leads to skipped payments that initially results in a bad credit rating and finally in major difficulties to getting a loan approved. Thus, starting a new business or affording monthly expenses takes some help in this situation. Bad credit loans will offer a lifeboat when times get rough, and you aren’t eligible for any other […]
Debt Consolidation Loans and Misunderstandings
Research points that the majority of brokers are acquainted with the purpose of debt consolidation loans and what they imply. Nonetheless, there is a significant number of requests sent to lenders for debt consolidation loans, which don’t fulfill the lender’s guidelines. What determines these general misunderstandings regarding this aspect? The source of misunderstandings Before explaining serviceability, there is a common misconception concerning debt consolidation loans. Professionals working in this field indicate that there is quite a fixed generalization according to which debt can be refinanced. The truth is that this assumption is entirely wrong. The source of this assumption is […]
How Bad Credit Happens and How to Avoid It
You may have bad credit and not even realise it. If you’ve never had to apply for anything that required a credit check, you might not know what state your credit is in. But you probably have phone, power and water providers who send you bills or you may have a credit card that’s being paid off. If you’ve ever been late or missed making a payment and didn’t rectify it with your provider in sufficient time, you might have negative items on your credit report. This means your credit rating may be low, thus affecting your future ability to […]
Why We Have Shopaholic Behaviour
Being a shopaholic can put you in a financial crisis. There is nothing wrong in spending your hard earned money but problems start to come in when the desire to buy seems to be uncontrollable. Purchasing things that you don’t really need which just turns into clutter or you end up wondering why you bought a whole stack of canned goods. You can’t get out of the mall without purchasing anything. If you are experiencing the same thing, then you may be a shopaholic. Advertisers and their marketing strategies try to manipulate or affect one’s spending habits, but the brain […]
Money Management – Good Debt Vs Bad Debt
Debt may seem as a natural part of life these days but without proper money management you can fall into bad debt. Credit cards had made falling into debt as easy as swiping that plastic over the counter. Like the speed of information exchanging on the internet, you may find yourself deep in a bad debt situation in the blink of an eye. Fortunately you have an option. You have the choice between a good and a bad debt. Of course as a rational person, one would choose the good over the bad. However it is not as simple as […]