Types of bankruptcies

Two types of bankruptcies that are most commonly filed when you are drowning in debt are Chapter 7 and Chapter 13. Chapter 7 is the most common type of bankruptcy. It is available to both individuals and businesses. Another name for Chapter 7 bankruptcy is Straight Bankruptcy. Any assets that can be sold to pay the…

Financial mistakes

We are starting out a new year and want to avoid financial mistakes. Here are some financial mistakes you need to ensure that you do not want to do: Too much student loan debt: When you take on too much student loan debt, you are going to have a heck of a time paying it off….

Loaned money

Have you ever loaned money to friends or relatives? Or have either friends or relatives asked you to loan them money? Or perhaps you were the one asking for the loan.  If you loaned them money or borrowed money from friends or family, have you noticed that the relationship between you and them has changed?…

Top 5 ways to build your credit score in college (and beyond!)

I came across this article and thought some of you might enjoy reading it. I only re-posted a few paragraphs of the article and a link to the full article. Posted by Jesse Clayburgh at 9:00AM Since high school I’ve always had some strange fixation with my credit score. In the effort of winning this ‘game’ (win…

Refinancing College Loans

For many college graduates, college loans are a terrible burden. Refinancing college loans into loans with affordable rates is next to impossible. However, SoFi founder and CEO Mike Cagney has created a wonderful solution to this problem. SoFi is a social lending platform that brings together student loan borrowers, alumni and institutional investors. What makes it unique…

Home loan mortgages to avoid

The home loan mortgages to avoid are : Interest only loans Adjustable Rate Mortgages (ARM’s) Balloon Loans The reason to avoid Interest only loans is because you never pay any money towards the principal loan amount that you borrowed. You’ll never payoff that loan. Adjustable Rate Mortgages  provide a low rate and payment in the beginning…