Author: National Debt Relief
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Can You File Bankruptcy on Student Loans? What Borrowers Need to Know
If you’re overwhelmed by education debt, you may be asking, “Can I file bankruptcy on student loans?” The answer is yes, it’s possible — but that doesn’t mean they’ll be erased right away. Unlike credit cards or medical bills, student loans…
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What Is a Credit Card Cash Advance?
A credit card cash advance is a short-term loan drawn against your credit card’s line of credit. Instead of swiping your card to make a purchase, you withdraw actual cash, either from an ATM, at a bank branch, or through other methods your card i…
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How Interest Capitalization Can Increase What You Owe
Are you paying off student loans or other debt? You might be surprised at how long it takes. Interest capitalization might be to blame. When you know what it is and how it works, you’ll be able to make greater strides toward financial freedom. How does…
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Loan Deferment: What It Means
If you’re struggling to keep up with loan payments, your lender may offer relief options. One of the most common is deferment, which lets you temporarily pause your payments. What is loan deferment, and when does it make sense to use it? Here’s what bo…
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When You Need to Start Paying Student Loans and How to Prepare
Graduation is a big milestone, and the last thing most people want to think about afterward is loan payments. But understanding when you have to start paying student loans, and what to do before that date arrives, can save you money, protect your credi…
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Income-Based Repayment: Student Loans
If you’re like many college graduates, you got a degree to improve your life. However, some graduates are finding that handling college debt is harder than they thought. If you qualify for income-based repayment, student loans may get easier to manage….
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What Is Student Loan Debt and Why It’s So Hard to Pay Off
Student loan debt is money borrowed to pay for higher education, including tuition, fees, housing, and other school-related expenses. Borrowers take out these loans with the agreement to repay the principal (the amount borrowed) plus interest over time…
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Private Student Loan Options and What Repayment Can Look Like
If you’ve been accepted into a higher education program, you’re probably excited to get started. This is a big step, and certainly worth celebrating! Before you start, however, you’ll have to overcome a hurdle: paying for your education. Unless you hav…
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What Is Unsecured Debt? Simple Examples and Definitions
Unsecured debt is money you owe that is not backed by collateral. Collateral is an asset, like a house or car, that you pledge to a lender as security for a loan. With unsecured debt, there’s no specific property tied to the balance. The lender a…
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What Is a Creditor? Plain-Language Definition and Examples
A creditor is anyone you owe money to. That includes the obvious ones, such as banks, credit card issuers, mortgage lenders, but also your doctor’s office, your landlord, your electric company, and the friend who lent you $40 last weekend. Federa…