Sv Money:debt% Communication Library

Keys to Select the Right Loan

When looking for a loan...

For the most purchasing power, you should wait until you have at least 25% of your income in savings and less than 10% of your income paying other debt.

Choose a time period that has a favorable rate and payments that you can afford. If you can swing a shorter time period, it will save you money in the long run.

Check to make sure there are no prepayment penalties or hidden fees.

Facing Debt Collection?

Know Your Rights

Dealing with financial trouble is stressful enough. But when a debt collector is hounding you using unscrupulous methods, it can make matters even worse.

You have rights. The Fair Debt Collection Practices Act (FDCPA) spells out your protection from abusive, harassing or unfair debt collection practices.

Debt collectors can't call before 8am or after 9pm, contact you at work if your employer does not allow it, contact a third party, harass, lie or use deceptive methods to collect a debt from you.

DEBT

A common, serious issue

Debt is a huge problem in the United States today. While America itself is racking up a huge debt, consumer debt is also skyrocketing.

A large chunk of debt comes from credit cards, since consumers often pay high interest rates if they don't pay the balance every month.

Consumer loans are another major source of debt. This type of debt can quickly add up, PIling on student loans, with car loans, and mortgages is expensive and risky.

Don't get in over your head. Nearly 2.5 million people every year seek need professional financial advising to get help.