The third decade of life is often portrayed as a period of consolidation: careers advance, families grow, and financial foundations solidify. Yet for ...
Read More
The trajectory of overextended personal debt is a story told in chapters, each defined by the unique pressures and perils of a different decade. It is...
Read More
The burden of student loan debt represents a uniquely formidable contributor to the crisis of overextension, particularly for individuals in their pri...
Read More
Are you managing your debt? Or is it managing you? If you're stuck in a money quicksand trap, you may not even realize at first that you're in a finan...
Read More
- Start by taking inventory of all your outstanding debts. - Look for ways to maximize your disposable income so you can put more money towards your ...
Read More
Entering one’s twenties often marks the beginning of true financial independence, a period of exciting possibilities juxtaposed with significant eco...
Read More
Options include downsizing a home, seeking credit counseling from a non-profit agency, and in severe cases, exploring bankruptcy, which may protect primary income sources like Social Security.
Programs like SNAP (food assistance), Medicaid, LIHEAP (utility assistance), and TANF (temporary cash assistance) can help cover basic needs during an income shock.
While a longer term lowers the monthly payment, it keeps you in debt longer, increases the total interest paid dramatically, and almost guarantees you will be upside-down for most of the loan's life.
Mathematically, it's often better to invest extra money rather than pay down a low-interest mortgage early. However, the psychological benefit of being debt-free is powerful. If you choose to pay it down, ensure you're already maxing out retirement savings and have no high-interest debt.
The No Surprises Act limits unexpected out-of-network bills. Additionally, consumers have rights under the FDCPA, including requesting validation of debts and disputing errors.
