Should you save money or pay off debt? For total financial health, you want to carry little debt and have savings for emergencies and retirement. But few of us get off to a perfect start. If you’re looking at a pile of debt and no savings, which problem should you tackle first?
You may be able to simply consolidate too much debt with a personal loan. You may have to bite the bullet and file bankruptcy. Or something in between.
What borrowers see as debt forgiveness the government may well define as “imputed” income. And consider your canceled debt taxable. This can make ignoring debt more expensive than you think.
It’s nice to be able to pay in cash for everything. But sometimes, it makes sense to borrow. Personal finance experts say that some debt is good debt. Here’s how to tell when personal loans are a good choice.
Working out how to pay medical bills can be more as than the sickness itself. But don’t panic. If you take care choosing the right financing, you can settle medical debt with the least pain possible.