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Debt

  • Should I pay off my student loan with my credit cards?
    Published: Jan 28, 2014

    Let's say you borrowed the average amount in student loans to pay for your college education. According to the nonprofit American Student Assistance, your total balance is probably in the neighborhood of $24,000. Eek! That's a lot of money. There's a good chance you have multiple accounts, with all that implies multiple student loan servicers, ...

  • Should I consolidate my student loan debt?
    Published: Dec 25, 2013

    Entering repayment for your student loans is overwhelming enough. But if you took out loans each year, you may be surprised to find that you have multiple student loan balances with different servicers. Keeping track of what amount is due at what point in the month can be stressful. A possible solution to the problem of ...

  • How can I prepare my credit prior to buying a car?
    Published: Nov 20, 2013

    Like it or not, there are a ton of factors you need to consider before buying a car. If you're buying a used car, for instance, you'll need to investigate the car's condition and mileage. Did the previous owner get the oil changed and perform regular maintenance? Has the car ever been in a wreck ...

  • What exactly is a debt-to-income ratio?
    Published: Nov 6, 2013

    Debt-to-income ratio, known in the lending industry as DTI, seems pretty simple on paper. It's got a few unexpected elements, though, so we'll lay it out in plain language for anyone who needs to know. What exactly is DTI? The name is self-explanatory -- DTI is the ratio of the income you bring in to the debt ...

  • Which loans will the IRS help you pay?
    Published: Aug 8, 2013

    You might view the IRS somewhat warily, but perhaps your attitude would mellow a little if you thought of them as a friend who helped you out with some of your loan payments. In effect, the deductibility of certain types of loan interest means that the taxman does help to make those loans more affordable. Of ...

  • How to pay off debt
    Published: Jun 25, 2013

    Debt is the four-letter word of personal finance. Even though most people have had to deal with it, no one wants to talk about it. By the time I graduate from the University of Michigan, I'll have some student debt since I have to take out a loan for my senior year. Although that's only ...