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Debt Management: Signs This Is for You

Debt Guru

If you have been turned down for new credit or higher balance limits on existing cards, you might have a debt problem. Too much debt scares potential lenders because they doubt your ability to pay them back, and this leads to application denials. Start by checking your financial house for these nine signs. Denied Credit.

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Katabat Platform to Support SoFi Ominchannel Personal Loan Collections

Katabat

3, 2019 – Katabat, a leading global supplier of debt management software solutions, today announced that SoFi, a leading personal finance company in the U.S., The post Katabat Platform to Support SoFi Ominchannel Personal Loan Collections appeared first on Katabat. WILMINGTON, Del.,

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Consumer Credit Outlook: Slowing Growth and Stabilizing Delinquencies

Account Recovery

The latest insights suggest the economic roller coaster may be leveling out, signaling a potential shift in how organizations approach debt management. However, rising balances among riskier borrowers and a record 750-basis-point gap between credit card and personal loan rates highlight ongoing challenges for lenders.

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Consolidating Your Debt? Here’s What NOT to Do

Debt Guru

It works by getting one new loan and using that to pay off multiple existing creditors. You pay off multiple types of loans and credit card balances with your new consolidation loan, and you’re left with a single monthly payment to the new lender. The post Consolidating Your Debt? Don’t overpay for convenience.

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How to Repay Debt: 4 Options

Debt Guru

Assess your debt, and write out a schedule of how you will pay off your debt, including how much you’re going to pay each month and the exact date you’re going to make that payment. Before you create your plan, try calling your lenders to simply ask if they’re willing to work out a payment schedule that fits in with your plan.

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Fast and Effective Ways to Pay Down Debt

Debt Guru

If you are paying a high interest on any big debts (mortgage, high-balance credit cards, personal loans, etc.), you should ask your lender about a lower interest rate. The post Fast and Effective Ways to Pay Down Debt appeared first on DebtGuru Credit Counseling and Debt Management Services.

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Determining Your Debt-to-Income Ratio

Debt Guru

Start by determining how your debt compares to your income. Use the same formula that lenders rely on when evaluating a loan application. It’s called your debt-to-income ratio, and it’s your total monthly debt payments divided by your gross monthly income. You could afford to shoulder more liability.