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What Happens If You Ignore Your Student Loans?

Credit Corp

Ignoring student loans can damage your credit score, lead to wage garnishment, and accrue interest and fees. Student loan debt in the United States stands at $1.727 trillion as of 2023. The repayment process may seem overwhelming if you’re among the more than 43 million borrowers with outstanding student loan debt.

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Seven Ways to Get Out of Debt in 2022

Better Credit Blog

Since more Americans are under pressure to resolve their debt, we’ve outlined several strategies that reduce or eliminate this financial liability. What is Debt? Debt is the amount of money you owe to a lender or creditor. Some examples of debt are mortgages, credit card dues, and personal loans.

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8 Ways to Consolidate Credit Card Debt 

Credit Corp

Debt consolidation allows you to take multiple debts and combine them into one, and you can do this with your credit card debt. Doing this makes managing the debt a little easier, and you may be able to get a lower interest rate. Step 2: Get prequalified with a couple of lenders.

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Congress Passes Relief for Student Loan Borrowers in CARES Act

Titan Consulting

Private loans, Perkins Loans, and FFEL loans held by commercial lenders were not included in the CARES Act. A forbearance through a non-qualifying loan will continue to accrue interest during the forbearance period but could include payment relief from 3 to 24 months. Who Qualifies for the CARES Act Student Loan Benefits?

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How Can I Stop Student Loans from Taking My Taxes?

Credit Corp

take—your tax refund, lenders have to go through the Treasury Offset Program (TOP). Before making a decision, TOP reviews the lender’s request to determine if it’s legitimate. If you do appear to owe the lender money, TOP diverts all or part of your refund to cover the debt. To garnish—i.e.,

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We’re Debt Free [And How You Can Do It]

Credit Corp

The average American has about $6,000 in credit card debt , with a large percentage of this amount resulting from accrued interest. With a limited understanding of how credit cards work, many people end up paying more interest than they should over the term of their credit card. Pay Off Your Mortgage Early.