Month: July 2019

Second City Advisors Discusses The Worst Type of Debt to Have in 2019

AlissaB Leave a comment

There are many worrying and troublesome types of debt in the United States today. Millions of Americans are burdened by credit card or medical debt. They lead to thousands of bankruptcies and countless sleepless nights every year. But one form of debt, student loan debt, maybe the worst of all. This type of debt is often present at high numbers and, most importantly, it has a special status during bankruptcy proceedings.

Student loan debt status in bankruptcy

One of the scariest aspects of student loan debt is the fact that it cannot be discharged in bankruptcy. Almost all other forms of debt are subject to default in a bankruptcy proceeding. Bankruptcy is rarely a positive development and can cause many problems for an individual’s life. But the nature of bankruptcy means that most debts a person incurs can disappear if their finances grow too dire.

Bankruptcy is a safety valve that can bring some sort of peace and security as an individual lives their life and sorts out their finances. Student loan debt, on the other hand, will almost always follow an individual around. It can lead to wage garnishment and the loss of tax refunds. This process makes student loan debt different in kind from other forms of debt. It has the possibility to ruin a person’s life for decades with no end in sight.

Amounts

Another reason why student loan debt is the worst type of debt is that it is often present in high amounts. For many jobs and universities, individuals are required to take out tens or hundreds of thousands of dollars in student loan debt. Some law schools require a quarter of a million dollars to make it through all three years. Amounts are astronomical and are growing every year. They also leave an individual in an unfortunate situation if they do not end up graduating.

For instance, the average job with an undergraduate degree often pays around $48,000 per year. An individual could pay $1,000 per month towards their student loans with some difficulty. People with $200,000 of student loan debt would, therefore, have to pay that $1,000 per month for over 16 years with no intervening money crises. This calculation does not take into account the fees, interest payments, and potential penalties that come along with every student loan.

How to handle it

Anyone who currently has student loan debt needs to first assess their finances. They need to figure out how much debt they have and how paying off that debt would affect their routine finances. Then, they need to make a plan for paying off that debt and see how long it would take them. If they are unsatisfied by their findings, an individual with student loan debt needs to seek out the services of an advisor such as those at Second City Advisors. These advisors will help individuals set a budget and get counseling help to deal with their debt issues.

Conclusion

People with student loan debt should not panic. They do not need to fret about default or never being able to make a payment. Instead, they need to set a plan and find a partner such as Second City Advisors who will help them reach their goals. A competent partner is the main asset that most people who can shake off student loan debt have at one point or another

Kalu Yala Reviews Tips for Doing Long Distance From the Jungle

AlissaB Leave a comment

Kalu Yala Reviews are here to help you in all parts of life, and today we’d like to discuss how to maintain a long-distance relationship when one of you is spending time in a remote area like the jungle! Kalu Yala Reviews knows that keeping a long-distance relationship going can be difficult, even under the best circumstances, but keeping in touch and involved in each other’s lives while one of you is in a remote area can make it even more difficult. Here Kalu Yala Reviews has included a few tips to help make your long-distance relationship thrive while you are apart.

1. Keep in touch!

The most important thing is, of course, to keep in touch with your loved one. When one of you is in a remote location this can be more difficult, but it’s important to put in the effort to keep in touch no matter what method you must use. There is a kind of charm to writing actual letters instead of emails or text messages. Perhaps your loved one won’t be able to receive calls very often. In that case, sending a quick video message via email or text is a great way to make sure that they can see your face.

2. Stay involved!

It’s important that the two of you stay involved in each other’s lives. Whether this means talking about your job, your classes, your hobbies, and activities or anything else make sure that your special person knows what’s going on with your everyday life!

3. Set ground rules!

It is very important to set clear and manageable expectations at the outset of your time apart. Is it reasonable to think that you’ll be able to speak two or even one time a day? Make sure to take issues like time changes, communication accessibility, and simple hours in the day into consideration when making these ground rules. It might not be possible to speak every day if you both have outside commitments!

4. Enjoy your time apart!

A truly healthy relationship should be able to withstand some time apart. It’s certainly normal to miss each other, but it’s not necessary to do nothing but mope around about your missing partner. Use this time apart as an opportunity to pick up a new hobby, spend time with friends or family, immerse yourself in a big project, volunteer in your community or anything at all!

5. Be honest

Make sure that the two of you are on the same page, and don’t let a small lie become a big problem in your relationship. Some minor jealousy is normal when maintaining a long-distance relationship, but lying is not necessary! Make honesty your policy right from the beginning and you won’t be tempted to sugar-coat the truth just because you feel your partner won’t like to hear about you going out with friends.

All in all, you can make a long-distance relationship work. In fact, long-distance relationships have their own special moments, and remember that it will be all the sweeter when you are back together

Brice Capital Types of Loan

Brice Capital Share the Types of Loans and When to Use Them

AlissaB Leave a comment

Looking to buy a new home? On the market for a new car? Interested in remodeling your home? Whatever your needs, it’s important to choose the right loan. In order to find the right loan for your needs, you need to determine which one is the best option. This guide will explain the seven most common loans and what you can use them for, according to Brice Capital. 

1. Conventional Loans

These loans are otherwise known as mortgages that come from lending institutions that are not affiliated with the Federal Housing Administration or the U.S. Department of Veteran Affairs. You can apply for a conventional loan through your bank, credit union, or mortgage lender. Other types include government-sponsored conventional loans through Fannie Mae or Freddie Mac. A conventional loan is a good choice for potential home buyers who have good credit and the available funds towards a payment.

2. Conforming Loans

Conforming loans are also mortgages that are offered by Freddie Mac and Fannie Mae. The only difference with this loan is that it comes with a maximum amount that’s established by the Federal Housing Finance Agency. You have to satisfy the requirements for the Fannie Mae or Freddie Mac loan. In order to qualify for a conforming loan, you must have a credit score between 620 and 640. If your credit score is lower, then you could still qualify for an FHA loan. 

4. Non-Conforming Loans

Unlike conforming loans, non-conforming loans don’t follow the guidelines and qualifications set by Fannie Mae and Freddie Mac. If you need a loan that has a larger amount then a conforming loan provides, then you should look into various non-conforming loan options such as jumbo loans. The right jumbo loan can be hard to find since there are limited options. You’re also subject to higher down-payments and more scrutiny cautions Brice Capital.

5. Secured Loans 

A secured personal loan allows you to borrow money towards an expense such as a new vehicle or home repairs. Secured means that it is backed by collateral, such as your home or vehicle. Your property can be seized in the event that you don’t pay back the loan. You can apply for a secured loan at a bank, credit union, or another financial lender. 

6. Unsecured Loans

Unsecured loans aren’t backed by collateral. Instead, it’s based on your credit history and income. You must have an excellent credit score in order to be approved for an unsecured loan, otherwise the interest rates will be much worse. You can use an unsecured loan for going to college, starting a business, consolidating debt, or purchasing an expensive item. Types of unsecured loans include credit cards as loans, a personal line of credit, peer-to-peer loan, and student loans. 

7. Open-Ended Loans 

Open-ended loans come with a fixed limit that you can borrow again once you repay the original amount. Credit cards and home equity loans are two examples of open-ended loans. In this case, the lender will approve you for a certain amount based on your credit history and the balance owed on your loan. This is similar to a line of credit that you can borrow, repay, and borrow again. Homeowners often use open-ended loans to help them pay home improvement projects. 

8. Close-Ended Loans

Close-ended loans cannot be used more than once. Examples of close-ended loans include car loans, mortgages, and student loans. The loan amount will decrease as long as you meet the monthly payments. If you need to borrow more, then you’ll have to reapply for another loan. For example, if you borrowed a loan for a vehicle but you need one for a separate expense then you’ll need to find a different lender. If you only need a certain amount of money, then this is the best option to choose.