Delaying payment to your creditors is an essential step in your journey toward debt settlement. When you decide to delay payment on your enrolled debts, it is normal for your credit score to drop. This pause in payment gives us the leverage we need to negotiate your settlement and puts you back in control of your debt. 

When you begin a debt settlement journey, you may be surprised to discover that an essential part of the program involves delaying payment to your creditors. Instead of making monthly payments on each of your enrolled debts, you make one monthly deposit into a Dedicated Account that will be used to pay your debt settlements throughout the program. 

Filing for bankruptcy is an important decision that is usually made under stressful circumstances. If you are overwhelmed by your debt, default is a legal process that could relieve you of your financial burdens. In the short term, filing for bankruptcy could stop a foreclosure or car repossession, protect your wages from garnishment, or keep your utilities from being turned off.

As Gen Z-ers enter their twenties there has been a dramatic increase in their credit card use. At 31.4 million strong, credit-eligible Gen Z-ers make up 40% of all consumers in the United States. This influx of new spenders has reinvigorated the credit card industry after the lull it experienced when millennials were coming of age during the 2008 recession. 

Why is this new generation so eager to use credit cards and will they learn from struggles of their parents and millennial counterparts?

Consolidating your credit card debt can help simplify your monthly payments and fast track you to paying off your debt. Unfortunately, there are a few things that can derail your progress. If you are considering debt consolidation for your credit cards, make sure you avoid these mistakes. 

There are several ways to transfer responsibility for a credit card balance from one person to another. While someone could certainly pay your credit card debt on your behalf with a bank account, transferring ownership of the debt itself is more complicated. In order to address the mechanics of transferring a credit card balance to your partner, we should first address some fundamentals of a traditional credit card balance transfer.

A balance transfer credit card with a low or no-interest introductory period could help you pay down your principal and save a lot of money in interest. Considering all the pros and cons of a credit card balance transfer will help you make an informed decision about this option.

If you’ve decided a balance transfer credit card is right for you, following these steps can help the process go smoothly. A balance transfer is a great way to take advantage of a special introductory rate that can help you pay down your credit card debt faster. 

If you are managing high-interest credit card debt, a balance transfer could help you pay it down faster and with less interest. People often use balance transfers to take advantage of 0% introductory rates on new cards, as well as other incentives that may be offered to entice borrowers to transfer their balances.