Sentences with phrase «get into a debt trap»

No matter whether you think short term or fail to read some fine print, you may get into a debt trap while taking out a loan.

Not exact matches

If you want to avoid getting deeper into debt, and wasting more money on interest payments, you need to watch out for the credit card minimum payment trap.

I am all for getting out of debt and sites like Grayson's does help thousands of people get out of the debt trap but there is nothing heroic about getting into debt in the first place.

What follows are five tried and tested ways to get out of debt, verified by experts and communicated to you here, so that you don't fall into the typical trap of waiting for it all to magically go away.

Otherwise, you could find yourself trapped in a cycle of upside - down debt that will only get worse as you roll it over into more and more cars, digging a deeper hole with each attempt.

Refinancing your loan or what we call rolling over is not recommended even though your lender may allow, this is because refinancing will get you into a debt - trap which may take years and lots of willpower to escape.

My point is that it's easy to get trapped into the good debt conversation and get complacent.

Again, no emergency fund means you could get sucked into the high - interest debt trap.

Dipping into your 401 (k) account never really makes sense and is generally a last and desperate attempt by many to get out of a debt trap.

If the debtor uses credit before paying off the consolidated debt, he gets into a deeper debt trap.

Even better, you won't have to rely on debt to get by or put yourself at risk of falling back into the same trap that led to the initial bankruptcy.