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Dealing with a debt lawsuit from Cavalry SPV I LLC can be a daunting experience, but with the right knowledge and strategies, you can navigate the process effectively. In this article, we will explore who Cavalry SPV I LLC is, what a debt lawsuit entails, and what steps you should take when served with a […]

Today, we are answering your questions from email and social media. We discuss what happens inside a 401(k) or 403(b) if you change your type of contribution, how to know if you have a good CPA, what constitutes a super saver, and if you can roll your 403(b) into a Roth IRA and do a Backdoor Roth in the same year. We also tackle a Backdoor Roth conversion question and talk about the challenges for […]

Credit scores are important for everyone. Your score significantly influences your ability to access various financial services. Whether you want to secure a mortgage or obtain loans at favorable rates, a healthy score is the foundation of your financial well-being. Knowing how various financial factors affect your credit score is essential. However, the common notion that taking out a loan is counterintuitive to your creditworthiness isn’t entirely true. Essentially, strategic use of some financial products, like cash loans, can boost your credit score. Below are a few ways taking an instant cash advance online can improve your credit ratings. Payment History Loan repayment history makes up around 35% of your credit score. Delaying negatively affects your overall score. Note that payment history isn’t just for loans. It includes repayment histories of credit cards and mortgages. Delaying your loan repayment several times does more damage to your credit score. Payments that delay for 30 to 90 days remain on your credit report for up to seven years. However, loan payments that are 90 or more days late have a more severe impact than 30-day late repayments. Unfortunately, you can’t avoid this by closing your accounts. Closed accounts with bad payment history will affect your credit score. Your report will show a loan that was defaulted and the account closed. Debt-to-Income Ratio(DTI) Your DTI ratio doesn’t directly affect your score. However, lenders consider it before approving a new credit. As the name suggests, this is a percentage of your debts against your salary. A low ratio means you remain with a good amount after monthly debt repayment deductions. This means you can effortlessly pay off another loan. A high DTI ratio means you use most of your monthly salary to pay debts. This makes it challenging to afford more debt obligations. That said, while the debt-to-income ratio isn’t factored into your credit score, it significantly affects loan approvals. Lenders have maximum DTI ratio thresholds for various loans. Individuals with a high DTI are considered high-risk borrowers and rarely qualify for loans. Credit Utilization Ratio This ratio makes up 30% of your overall score. This is a percentage ratio of your credit balance to your credit card limit. It essentially measures how you use your available credit. That said, using your available credit minimally translates to a good score.  A low credit utilization ratio means you don’t rely heavily on your credit, which suggests responsible management of your finances. On the other hand, a high credit utilization ratio means you heavily rely on your credit. This indicates to lenders that you have overextended financial responsibilities. Ideally, this ratio shouldn’t exceed 30 percent. Endnote If appropriately managed, cash loans are a valuable tool for improving your credit ratings. Borrowers can harness the potential of cash loans and other financial products by understanding key credit score factors like payment history and credit utilization ratio. Doing this will help alleviate immediate financial needs while building a healthy credit score.

In the dynamic landscape of small business financing, SBA loans emerge as a beacon of hope for entrepreneurs striving to turn their business dreams into reality. These loans, backed by the Small Business Administration (SBA), are designed to level the playing field, offering more accessible access to funding for small businesses that might otherwise struggle to secure financing through traditional channels. As a crucial lifeline for startups and growing businesses, SBA loans provide essential capital […]

This week’s blog post is from one of our clients who experienced first-hand what all adult children face: dealing with all the issues around aging parents.  Knowing your elderly parents’ financial situation is essential. If your parent(s) could run out of assets, you may need three to four years’ lead time to secure their senior housing.  A few years ago, just after I began handling my mom’s bills and medical care, I hired an elder […]

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In the modern world, debt has become a common part of many people’s financial landscapes. Whether it’s from student loans, credit cards, or mortgages, debt can feel like a heavy burden that’s hard to shake off. However, aiming to reduce your debt doesn’t have to mean cutting out all the things that make life enjoyable. It’s all about finding a balance and making smart, innovative moves that can help you chip away at your debt […]

National vs. Local Mortgage Lenders: Which is Right For You? is a post originally published on: Everything Finance – Everything Finance – Its all about Money! There are so many decisions to make when you’re ready to buy a home. You will need to determine your budget, the area you want to live in, if you want a fixer-upper or a move-in ready home, and more. These are major decisions you will need to consider […]

Episode #332 – Ready to dive into the nitty-gritty of single-family rental property analysis? Coach Carson guides you through a real-life example, breaking down the process step-by-step using tried-and-true tools. Whether you’re a seasoned investor or just starting out, this episode is your ultimate guide to running the numbers and making savvy real estate decisions. [Continue Reading] The post How to Analyze a Single Family House Rental Property (Quick & Dirty Example) appeared first on Coach Carson.

This overview on how to pay your taxes with a credit card (to the IRS) has been updated for the 2024 tax season. Want to take a bit of the sting out of paying taxes? Good news. You can easily and quickly pay taxes with a credit card and simultaneously profit from doing so. I didn’t know this was possible until a few years ago and it definitely makes my “financial knowledge I wish I had known sooner” list. You do, however, have to pay attention to the details when paying your IRS taxes with a credit card. Otherwise, you The post How to Pay Taxes with a Credit Card (and Profit) in 2024 appeared first on 20somethingfinance.com.

Most students will need to take out a loan in order to study at the college level. While the options available are generally straightforward, there… The post 3 Things You Probably Didn’t Know About Your Student Loan appeared first on Savings and Sangria.