Debt Consolidation
Coverage of Debt Consolidation in the Nexus archive.
- Americans owe $1.40 for every dollar earned, new analysis finds
The average American earns $45,000 annually but carries $63,000 in debt, resulting in $1.40 owed for every dollar earned. A ConsumerAffairs analysis highlights widespread financial strain, with states like Louisiana, Nevada, and Mississippi showing high rates of mortgage, credit card, and payment delinquencies.
- [US]How to get rid of these calls saying “loan application has been approved”?
A user reports receiving frequent scam voicemails claiming loan approvals, which their wife has been getting for over a month. The calls, often about debt consolidation or unsecured loans ranging from $26K to $70K, are blocked and reported, but the user seeks ways to stop them. The voicemails only appear on the wife's phone, linked to the user's Apple account.
- [US] Is there a way to permanently stop toll free calls?
The user reports receiving an average of three toll-free calls daily since May 29th, each with unique numbers and messages about unapplied-for loans or debt consolidation. These calls are described as harassing, with messages persisting even after the calls are ended.
- Should homeowners tap equity to pay off costly debt? Weigh these pros and cons
Home equity levels remain high, but using that equity to consolidate debt can come with significant trade-offs. The article highlights the potential risks and benefits of leveraging home equity for debt repayment.
- Consolidating your debt may not save you money this May. Here's why.
Debt consolidation may not be a cost-effective solution in the current economy, as it could end up costing more than expected. This is contrary to the common perception that debt consolidation is a quick fix. The article highlights the potential financial drawbacks of consolidating debt.
- Is now a good time to take out a personal loan for debt consolidation?
Personal loan costs may be lower than credit cards currently, making it a potential option for debt consolidation, but other factors should also be considered. This decision depends on various factors beyond just cost comparisons. Debt consolidation through personal loans can offer relief, but careful evaluation is necessary.
- How to consolidate $20,000 in credit card debt
The article discusses strategies for consolidating $20,000 in credit card debt, emphasizing that it's not a personal failure but requires a solid plan. It highlights the importance of developing a strategy to manage and reduce such debt effectively.