All Questions: Debt
Posted January 18, 2017 · Louisville, KY
Linda Jacob

Linda Jacob

CFP®, AFC®

Even if you sell the car or trade it in, you will still be responsible for the difference between the trade and sale and what you owe. Add that to th...

Posted January 17, 2017 · Atlanta, GA
James Kinney

James Kinney

CFP®, CCPS

Agree with the others. Talk to the credit card company BEFORE it goes into collection and ask for some kind of restructuring. A lower interest rate ...

Posted January 13, 2017
Linda Jacob

Linda Jacob

CFP®, AFC®

Before considering stopping your 401k contribution, see if this route will help.

To start with, make a budget. Total up all your monthly take home p...

Posted January 12, 2017
Linda Jacob

Linda Jacob

CFP®, AFC®

There are many factors that go into your credit score. Making your payment on time makes up 35% of your score, so good job!

30% is made up of outs...

Posted January 12, 2017 · Seattle, WA
Linda Jacob

Linda Jacob

CFP®, AFC®

Before withdrawing from an IRA, I would look into a Debt Management plan. (NOT a Debt Settlement) When you go through a Debt Management Program, the ...

Posted January 12, 2017
CCCS of Buffalo , Inc. (NFCC)

CCCS of Buffalo , Inc. (NFCC)

NFCC Certified Credit Counselor

If your struggling with your credit card payments a debt management plan may be your best option. A debt management plan can reduce your interest and...

Posted January 10, 2017 · Houston, TX
Conquer Your Debt (NFCC)

Conquer Your Debt (NFCC)

NFCC Certified Credit Counselor

The good news is that the FCRA limits the amount of time that negative information can appear on your credit report. Generally, a delinquent account c...

Posted January 6, 2017
Linda Jacob

Linda Jacob

CFP®, AFC®

There are a couple of ways to get out of debt and back on track. To start with, make a budget. Total up all your monthly take home pay. Next, start...

Posted December 28, 2016
Linda Jacob

Linda Jacob

CFP®, AFC®

Your debt-to-income ratio is all your monthly debt payments divided by your gross monthly income. If your monthly gross income is $13,000 and your de...

Posted December 27, 2016
Linda Jacob

Linda Jacob

CFP®, AFC®

He should prioritize his living expenses first, (rent, utilities, food, car). Then pay his secured debts, followed by his unsecured debts.

He has a...

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