Credit card debt is a risk that everyone with a credit card faces at some point. After all, debt is the essence of a credit card. Buy something now, pay for it later. If you’re not careful, you could run up a pretty high tab, and you might not be able to pay it off with one payment. And if you have multiple credit cards with due payments, the cost is only magnified. Whatever you do, don’t panic. Don’t sit there and pretend it doesn’t exist, either. You must take action. Here are some steps you can take to alleviate your credit card debt. Continue reading
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Don’t give into your frugal fatigue
I have said many times that it is not human nature to be conservative. Saving up or cutting back goes against our tendencies to buy things. This is most evident in our physical health, as 32% of the adult population in the United States is now obese. It’s difficult to stick to a certain regimen or diet, and eventually it could end up in a splurge, immediately negating all of the hard work. The National Foundation for Credit Counseling has uncovered a recent development in the financial world called frugal fatigue, something that may affect the severity of a possible credit bubble bursting. Continue reading
Emotion and haggling through debt settlement
Life is about more than just the facts. It’s also about how you communicate certain information. It’s also about collaborating with other people in order to create a solution that works for all parties involved. Emotion and tone can also play factors in a final outcome. When you are working out a debt settlement with your creditors or a third-party adviser, you need to use more than just the bare facts. Two things you might need to be prepared for are having an emotional appeal and haggling. Continue reading
Judgment Day
I’ve warned that there are dangers in building up credit card debt. If you rack up a large bill and a lender is tired of waiting on you to pay up, he/she could take you to court. Here, you might come across strange terms like “tort” or “estoppel.” The end result of the case, however, is a familiar term. Continue reading
How does a mechanic’s lien work?
If you have hired an outside party to do work on your home or on your property, a payment plan might be the last thing you think about. However, getting work done from an artisan can end up seeming like taking out another line of credit. If you can’t pay the outside party for his/her work, not only are you in debt, but the person can legally take hold of your property. Continue reading
Chapter 13 bankruptcy pros and cons
Filing for Chapter 13 bankruptcy is a way to restructure your financial health. If you have disposable incomes but too many debts, Chapter 13 can provide a personal reorganization with a court-approved plan. As with any financial decision, there are some pros and cons to weigh if you are considering filing. Continue reading
What Credit Scores are Subprime?
To an extent, your credit score is as important as your education. If you have graduated from high school and have earned a degree at a prestigious college, you may look like a good candidate for a good job with high salary, health care benefits, and the lot. In comparison, if you have a good credit score, you may look like a good candidate to receive a large loan. Continue reading
What are PLUS Loans?
If you’re planning to go to college, money is an issue you should not worry about. College isn’t just for rich kids. There are many ways to pay for college that don’t involve immediate payment, including scholarships, grants, and loans. One option is a PLUS loan. Continue reading
Ocean’s 16: the lottery curse redux
“The Lottery, with its weekly pay-out of enormous prizes, was the one public event to which the proles paid serious attention. It was probable that there were some millions of proles for whom the Lottery was the principal if not the only reason for remaining alive. It was their delight, their folly, their anodyne, their intellectual stimulant. Where the Lottery was concerned, even people who could barely read and write seemed capable of intricate calculations and staggering feats of memory.”
-from George Orwell’s 1984 Continue reading
NC Tax Simplification and Reduction Act: What tax break?
Many North Carolinians are miffed by recent legislative reforms in the state. They’re tired of politicians spouting mindless, scripted rhetoric. The recent television ad with governor Pat McCrory saying “We’re stepping on the toes of the left and the right to make tough, necessary changes” only makes many North Carolinians more distressed. In this commercial—paid for by a 501(c)(4) group called Renew NC—McCrory makes some generic claims about how he is making the state better. Continue reading
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