If you have multiple streams of debt, like high-interest credit cards, medical bills or personal loans, debt consolidation can combine them into one fixed monthly payment. Getting a debt consolidation loan or using a balance transfer credit card can make sense if it lowers your annual percentage rate. But refinancing debt has pros and cons … Continued
A singular crisis has led to extraordinary relief options for borrowers. Interest and payments have been paused on federal student loans. Homeowners can request nearly a year of mortgage forbearance. Credit card issuers and other lenders dramatically expanded hardship programs. Still, many Americans say they took on more debt last year because of the pandemic, … Continued
After close to a year of living with the pandemic, the effect on people’s finances has varied widely. If you’re in the fortunate position of still having a steady income, you can plan for what lies ahead in 2021. A good first step is dealing with debt. Maybe you leaned on credit cards to get … Continued