At the start of each new year, countless people resolve to get in better shape. They diet, join the gym and do whatever else it takes to meet their goals. More and more people are realizing the importance of good financial health as well. A study conducted by Fidelity found that 54 percent of Americans are considering financial resolutions this year; a nearly 20 percent increase from 2009. Here are a few tips to help our readers in Lane County get out of debt, a common New Year’s resolution.
December 2013 Archives
In a recent post we offered tips to reduce credit card debt during the holiday shopping season. Still, there will be many people in Lane County who using plastic to purchase all of the gifts, goodies and gadgets on their list, confident that they will have enough money in the coming months to pay the balance down. Statistics show that consumers in Oregon and the rest of the nation are spending more for the first time in a long while.
When consumers take on more debt than they can handle, creditors sometimes turn to wage garnishment to collect the outstanding balance. Since there are a lot of questions surrounding this form of collection, we thought our readers in Lane County who are being harassed by creditors threatening to garnish your wages would be interested to learn more about the process as well as your legal rights.
With the holidays just around the corner, many Americans will be incurring more credit card debt buying gifts and gadgets at deeply discounted prices. No matter how low the sales price, however, it isn’t a good deal if you will be paying interest on your purchase for the next year. Instead, we urge our readers in Lane County who are struggling with credit card debt to resist using plastic to pay for holiday presents and use some of that holiday bonus to buy gifts; the rest can be used to pay down the balance.
Home equity loans enable homeowners to tap into the equity in their home for just about anything: home repairs, medical expenses, vacations, tuition and more. Low interest rates and the possibility of tax deductible interest payments make home equity lines of credit even more appealing to homeowners in Lane County who are strapped for cash. Unfortunately, many homeowners don’t realize that if they can’t make the payments on a home equity loan or line of credit that their home can be foreclosed upon, even if their first mortgage is paid off.