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Getting Out of Debt: The Pros & Cons of Debt Settlement

If you are swimming in debt, you’re bound to start looking for a way out. Many people see debt settlement –an option that advertises to help you pay off your debt for much less than what you owe– as a way out of their financial woes. However, the truth isn’t quite as simple as all that. Debt settlement isn’t without pitfalls and consequences — and it isn’t for everyone.

How Debt Consolidation Affects Your Credit

When debt piles up, you have several options for paying it back, including debt consolidation. What is debt consolidation? Debt consolidation means taking out one new loan large enough to repay some or all of your outstanding debt. You get the money, pay off your accounts, and then make a single monthly payment to pay

Do You Fall for Bad Deals?

(source) The thing about bad deals is that they seem like deals. The “bad” part doesn’t become apparent until later on – usually when it’s too late to do anything about it. Especially during hard economic times, it’s tempting to jump at what looks like a chance to save money without crunching the numbers or

Plastic Is King: Credit Card Debt in America

The debt held by U.S. consumers plays an important role in today’s economy. In fact, a huge portion of the economic growth factor, or GDP, relies heavily on consumer debt. What follows is a dissection of consumer debt, showing how much we owe, who owns our debt, and America’s favorite credit cards.