Debt consolidation is one way of solving a multiple debt situation, and, as you would expect, there are several types of debt consolidation loans, each with its own pros and cons. If you have several monthly loan repayments to make and are finding it difficult to make the payments, debt consolidation might just be the answer.
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There are numerous debts that could result in unmanageable stress. It is imperative to identify the different kinds of debts so you can know what each of them involves. If you are unsure of what the different debts involve, you can always seek assistance from a credit counselor to learn about these debts and what they involve. Here are some of the debts you need to know about.
While repayments on most loans aren’t tax deductible, there are some exceptions. Knowing your way around these exceptions is key for reducing your tax bill and maximizing your annual revenue.
Settling your debt can be relieving. Often, you’ll be able to settle for a lesser amount than you owed in the first place, and your new payment plan can be much less stressful on your finances. There are some mistakes that are often made though when people settle their debt, so we’ve created a list of six common mistakes and how you can avoid them.
Think about this scenario. You’re standing by your car staring at it with a rather forlorn expression on your face. It has a rather ugly dent on it. You have no idea where the dent came from or when it occurred because, as far as you can remember, it wasn’t there this morning.