The Debt Lawyers Blog
Publications on student loan debt, credit card debt, credit report errors and more.
When Can a Creditor Start Garnishing Your Wages?
It is no secret that being in debt lowers your credit score. However, did you know that being in debt may result in a creditor garnishing your wages? While you might not have to worry about wage garnishment until your debt has been delinquent for several months, knowing its basics is beneficial. If you are struggling to keep up with your debt...
Why You Should Avoid Opening Several Credit Cards Simultaneously
Credit card companies have a way of constantly creating new cards with unique perks and enticing reward programs. While all the so-called benefits of a potential new credit card can be enticing, opening up too many credit cards at one time can not only tempt you to spend beyond your means—after all, you’ll usually need to spend money to earn the...
Who Pays for Student Loan Debt in Arizona Divorce?
Couples aren’t usually thinking about their student loans when they walk down the aisle. However, while many people plan to have their loans paid off before a divorce would even be on the table, many Americans are still paying off student debt in their 60s. This raises the question of how student debt is dealt with in the case of a divorce. Going...
What’s the Difference Between Debt Avalanche vs. Debt Snowball Methods?
Dealing with debt is no fun task. If you only make the minimum payment each month and don’t have a plan for accelerating payments, paying off your debt can feel like an impossible feat. Usually, to pay down large debts, you need to have a clear plan. The most common strategies for paying off outstanding balances are debt avalanche and snowball...
Can I Refinance My Student Loans with a Low Credit Score?
Figuring out how to refinance your loans can feel like a hopeless cycle. People looking to refinance their loans are likely feeling stressed by their current financial situation, and as a result, are probably struggling to make their current loan payment. And if you’ve missed a couple of payments, it’s likely your credit score has taken a hit....
How to Manage Student Loan Debt as a Freelancer
When it comes to paying off student loans, self-employed workers face unique challenges. Having to keep up with monthly payments with a variable income can be extremely stressful. However, the good news is that there are federal student loan repayment plans freelancers can take advantage of to make managing their loans easier and less...
How to Find Your Debt-to-Income Ratio
In addition to your credit score, your Debt-to-Income (DTI) ratio is an integral part of your financial health. Calculating your DTI ratio may help you determine how comfortable you are with your debt and decide which credit cards are best for you. When you apply for credit, creditors and lenders evaluate your DTI to determine the risk associated...
Using the 50/30/20 Rules to Stay on Budget
Too often, people spend more than they make each month, putting them in debt. Staying on budget can be challenging for some people. A method many people use to stay on budget is the 50/30/20 rule. Senator Elizabeth Warren popularized this method in her book “All Your Worth: The Ultimate Lifetime Money Plan.” The basic rule divides up gross income...
6 Careers That Offer Student Loan Forgiveness
Paying back student loans can be a long-term endeavor. However, certain career paths could cut your loan repayment period in half or even have the potential for full loan forgiveness. Often, these jobs aren’t the most lucrative. If you have chosen a career in one of the following fields, you may be eligible for student loan forgiveness programs....
