Clear That Credit Killing Debt: A Comprehensive Guide To Credit Card Student Loan & Mortgage Debt Plr Ebook

Table of Contents

What Is Credit Debt? 4
Types of debt 4
A Debt Obligation 4
Private Debt 4
A Basic Loan 4
Bonds 5
Credit Card Debt 7
How To Prevent Credit Card Debt 7
1. Don’t Get A Credit Card 7
2. Pay As You Go 7
3. Get A Card With Strict Limits 7
4. Pay What You Really Can Afford 8
Getting Rid of Credit Card Debt 8
1. Make Cut Backs To Increase Income 8
2. Try Snowball Payments 9
3. Snowflake Payments 9
Student Loans 10
Federal Loans 10
Direct Loans and Federal Family Education Loans – FFEL 10
Federal Student Loan Amounts and Terms for 2010-2011 10
Private Loans 15
Working on Student Loan Debt 16
Mortgages 18
Prioritize 18
Consult Your Lender 18
Refinancing Options 19
When it’s a Good Idea 19
When it’s a Bad Idea 20
Bankruptcy Facts 21
History 21
Bankruptcy in the U.S. 22
Student Loans & Bankruptcy 26
How to Discharge Student Loans in Bankruptcy 26
Chapter 13 and Student Loans 27
Key Points 28
Bankruptcy in the U.K. 30
Credit Score Facts (U.S.) 33
Credit reporting agencies 34
NextGen score 34
VantageScore 35
Your Path to Success 35

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What Is Credit Debt?

Simply put: Debt is that which is owed; usually referencing assets owed, but the term can also cover moral obligations and other interactions not requiring money. In the case of assets, debt is a means of using future purchasing power in the present before a summation has been earned. Some companies and corporations use debt as a part of their overall corporate finance strategy.

A debt is created when a creditor agrees to lend a sum of assets to a debtor. In modern society, debt is usually granted with expected repayment; in most cases, plus interest.

Types of debt
A company uses various kinds of debt to finance its operations. The various types of debt can generally be categorized into: 1) secured and unsecured debt, 2) private and public debt, 3) syndicated and bilateral debt, and 4) other types of debt that display one or more of the characteristics noted above.

A Debt Obligation
A debt obligation is considered secured if creditors have recourse to the assets of the company on a proprietary basis or otherwise ahead of general claims against the company. Unsecured debt comprises financial obligations, where creditors do not have recourse to the assets of the borrower to satisfy their claims.