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Dealing with Student Debt
The UK used to have an excellent 'free' education system, on the premise that education its citizens made the whole country wealthier. That has now changed, and student loans are the norm, as in the USA. This, of course, means that the majority of...
Debt Management Plans - Things You Must Do To Avoid Pitfalls
Most people are involved in some type of financial transaction or decision every day. Sometimes they can get way behind in their debts and financial obligations with no clear way to pay them off. Some resort to debt management plans, which can help...
How to Get Out of Debt
If you have found yourself in a position where you are in serious debt and cannot think of a way out of the situation, then take a few minutes to read these few tips. Some may seem obvious but do put them into practise as they will help. I am...
Restore Your Credit Rating And Reduce Debts
Your credit rating affects many areas of your life. Opening new credit accounts, buying a home or car, getting a new job, and receiving discounts on insurance rates are just a few of the things that are impacted by your credit score. Millions of...
UK Debt When Moving Abroad
The idea of moving abroad to escape debt seems to be more of a common practice these days. People who have failed businesses or are swamped in debt believe that moving abroad will give them a fresh start and allow them to build a new life.
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Loans - Good Or Bad Debt?
When borrowing money it is usually because we lack the cash to make a large purchase, such as for a car, home or education. However, an important question to ask yourself when borrowing is if the purchase you would like to make is creating good debt or bad debt.
Good debt is considered borrowing for something that will go up in value over time. For example, real estate, a business or for education purposes. Education loans can be considered good debt because it should increase your income.
Bad debt is debt used to fund something that doesn't hold its value. Some examples would be car loans, personal loans for vacations and use of credit cards for consumable products.
Additionally, loans for bad debt are not generally good for your financial well-being because they usually have higher interest rates and are not tax deductible. Good debt loans on the other hand are frequently tax deductible and carry lower interest rates.
Ideally having no
bad debt is the best. However, in some cases a certain amount of bad debt may be ok and unavoidable.
Some financial professionals claim that it is acceptable for 10-20% of your annual income to consist of loans for bad debt. But, going over 25% is getting into a danger zone that may be difficult to get out of. Once you get into this high debt range, the amount of interest paid becomes so high that it results in a cycle that cannot be reversed.
So, just remember to take into consideration the type of debt (good or bad) you are incurring prior to getting a loan. This advice can go a long way toward helping you be a financially savvy borrower.
About the Author: Jill Kane is an author for http://www.1st-low-rate-loans.com
Source: www.isnare.com
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| Factsheet - Debt Relief Under the Heavily Indebted Poor Countries ... |
| The HIPC Initiative is a comprehensive approach to debt reduction for heavily indebted poor countries pursuing IMF- and World Bank-supported adjustment and ... |
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| Special report: debt relief | Special reports | Guardian Unlimited |
| February 6: A year ago the Guardian set out to track the west's promises of action for Africa on aid, trade, health and debt relief. As G8 finance ministers ... |
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| Economic Policy and Debt - The Enhanced HIPC Initiative |
| The Initiative’s debt-burden thresholds were adjusted downward, which enabled a broader group of countries to qualify for larger volumes of debt relief. ... |
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| Debt relief - Wikipedia, the free encyclopedia |
| Debt relief is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. ... |
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| Debt Relief - Social and Economic Policy - Global Policy Forum |
| Aid Inflows, Debt Relief Yet to Translate into Reduced Poverty (March 20, 2006) ... Fearing that the IMF could tie debt relief to economic benchmarks, ... |
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| Debt Relief - Global Policy Forum - Social and Economic Policy |
| Debt Relief - Global Policy Forum - Social and Economic Policy. The Debt Relief Page Has Been Moved to: ... |
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| BBC NEWS | Business | Q&A: African debt relief |
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| Oxfam policy paper on relationship between international debt servicing and poverty. Linked to table of contents and also zipped for download. |
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| What debt relief means for Africa | csmonitor.com |
| This weekend's $40 billion debt cancellation deal could spark major improvements in the lives of the world's poorest people. |
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