Sentences with phrase «pay off other debt if»

What if you don't have children and you purchased your term life policy to help your spouse pay off your home mortgage or pay off other debt if you were to die?

Not exact matches

If paying off credit card debt or other consumer debt is your biggest financial need, you're better off working with a qualified credit counselor than a financial planner.

In the NerdWallet survey, many Americans who have been in credit card debt said that if they didn't have credit card debt to pay off, they would save that money for emergencies (57 %), save it for a future goal (50 %) and / or put the money toward paying down other debt (33 %).

If you just pay the minimum (starting at $ 125) and add no other charges, it will take 208 months, or more than 17 years, to pay off the debt.

If you're not sure about using a personal loan to pay off student loan debt, there are other options.

If you're thinking about using a personal loan to pay off student debt, consider all of your other options first and understand what benefits you are giving up.

May 03, 2018 Saving money for retirement or a major purchase can be difficult, especially if you're still paying off student loans, credit card bills and other kinds of debt.

If you're looking to pay off credit cards or other debt, you may save thousands ** when you refinance high - interest debt at a lower rate.

On the other hand, variable rate loans can be an affordable way to quickly pay off debt or secure a lower payment in the future if rates decline.

«If they are able to pay off of their mortgage, they will be rid of the largest debt source and have more income to spend on other items,» he says.

If you'd like to take advantage of your home's equity to access cash for home improvements, pay off high - interest debt or manage any other expense, a VA Cash - Out loan may be just what you're looking for.

But if you need cash for something, whether it's for an investment or to pay off other more expensive debts, this could be a worthwhile decision.

If you think you'll need more than 15 months to pay off the debt you transfer, compare the cost of paying a balance transfer fee to the savings from a longer period that other cards may offer.

Even if rates didn't rise, I'd still want to pay it off first because it's already expensive compared to other types of debt.

On the other hand, if your goal is to pay off your mortgage faster so you're debt - free or you want to reap a larger profit when you sell, a shorter term loan can be a viable option.

If you have credit card debt on other cards, and the interest rate is weighing you down, transferring your debt to a card like this can really help you make a dent in your debt (assuming you will be paying off more than the minimum amount due, of course).

If you've got other high - interest debt such as credit - card debt and your home has increased in value, this may be the time to consider refinancing to pay off your credit cards.

If you're looking for lower monthly payments to ease cash flow, pay off other debt, or invest in other financial instruments, then refinancing into a new long - term loan makes sense.

It doesn't do any good to pay off the mortgage earlier if you have to incur other debts as a result.

On the other hand, variable rate loans can be an affordable way to quickly pay off debt or secure a lower payment in the future if rates decline.

If you're struggling with your credit, you likely have other financial issues and could use that money to pay off debt, start an emergency fund or save for retirement.

If you are a homeowner and want to gain more leverage from your residence's value to pay off your credit card bills, store card bills or any other kind of debts.

Don't use debt consolidation if the lender is offering you a loan at a higher interest rate than the average interest rate on the other accounts that you plan to pay off with the loan.

If you proceed with this mortgage loan, you should also remember that you may face serious financial risks if you use this loan to pay off credit card debts and other debts in connection with this transaction and then subsequently incur significant new credit card charges or other debtIf you proceed with this mortgage loan, you should also remember that you may face serious financial risks if you use this loan to pay off credit card debts and other debts in connection with this transaction and then subsequently incur significant new credit card charges or other debtif you use this loan to pay off credit card debts and other debts in connection with this transaction and then subsequently incur significant new credit card charges or other debts.

Using the snowball method, you can pay less overall interest and pay off debts faster if you pay off the credit card with the highest interest first and make only minimum payments on the other credit cards.

In most cases, if you are serious about paying off your tax debt, payroll deductions and direct debit offers more benefits than any other type of payment method for an installment plan.

If you have secured debts other than a long - term mortgage, you may want to pay them off first.

If the creditor will not waive fees for paying off a debt early or any other fees attached to the debt, then you'll have to pay more money.

On the other hand, paying off some debt may be wise if you need to lower your total debt - to - income ratio.

If you spend your tax refund on luxury goods, use it to repay a friend or family member, or pay off a credit card or other unsecured debt, you may trigger an objection from the trustee, and be required to turn over your tax refund, even if you HAVE spent the moneIf you spend your tax refund on luxury goods, use it to repay a friend or family member, or pay off a credit card or other unsecured debt, you may trigger an objection from the trustee, and be required to turn over your tax refund, even if you HAVE spent the moneif you HAVE spent the money.

If you are deep in debt you might be wondering whether tapping from your 401 (k) plan loan is a good option to pay off your credit card and other debts.

If you tend to overspend and have no control over your income and expenses, you need to learn about budgeting and other money management procedures that will help you improve your income to spending ratio thus providing you with sufficient remaining income to start eliminating debt by paying it off.

If you have secured debts other than a long - term mortgage, pay them off first.

If you were investing in homes and put debt on credit cards and you had to let them all go, paying a credit repair company may not be a good option for you especially if they are large debts as at least in Texas (other states vary) you can be sued for 4 years after the charge off datIf you were investing in homes and put debt on credit cards and you had to let them all go, paying a credit repair company may not be a good option for you especially if they are large debts as at least in Texas (other states vary) you can be sued for 4 years after the charge off datif they are large debts as at least in Texas (other states vary) you can be sued for 4 years after the charge off date.

If a person is paying high interest on other loans or credit cards, it could pay to get a SoFi loan to pay off those debts and pay less in the long - term because of reduced interest.

If you have equity in your property, you can use it as collateral to secure another fixed - rate loan and pay off other debts.

Also, if you own property or other things of value, you may consider selling them in order to pay off a huge chunk of debt at one time.

In other words, if you pay off the debt two years after it was charged - off, the negative impact remains on your credit score for another five years, making it difficult to get a mortgage, auto loan, or even a debt consolidation loan.

If you can not qualify for any other type of loan, you're better off continuing to pay down your credit card debt.

If you're making the minimum payments and you can afford to make a little more, then you might consider a debt snowball where you send a higher payment to one of your credit cards each month (while making the minimum on all your others) until that card is paid off.

If you are struggling to make payments on credit cards and other debt, it may be time to recognize that you can not live your current lifestyle and get your debt paid off simultaneously.

On a $ 200,000 mortgage that's about $ 2,000 to $ 4,000 in annual savings you can use to make extra mortgage payments or, if necessary, pay off other debts.

If you're lucky enough to be paying historically low rates (as I am on my mortgage) and getting good returns on the investments so the latter is the higher percentage, the balance goes the other way and you'd want to continue paying off the debt relatively slowly — essentially treating it as a leveraged investment.

That might be hard if Canadians not only stop saving for retirement but neglect to pay off their mortgage and other debts.

If you have an average - paying job or better, you've paid off your mortgage and other debts, and your kids are self - supporting, you should be able to save at least 20 % to 35 % of your income.

Some lenders charge fees if you pay off your loan debt before the term ends, but others don't.

If you are having a hard time paying off your credit card or other debt in the Lower Mainland, it is extremely important you do something about it as soon and as quickly as possible — to leave yourself as many options, choices as possible.

One other word of caution if you already tapped your equity to pay off unsecured debt and face foreclosure in the future is that many lenders are reporting any forgiven debt (the difference between what you owe and what the bank collects) to the IRS as taxable income to you.

Regarding the funding or your retirement accounts, Dave Recommends that if you have any debt at all other than a mortgage (or extremely large student loans), you need to suspend all retirement savings contributions and focus all of your financial resources towards paying off your debt; including those of you who may be lucky enough to get an employee match in your 401k or 403b.

If you are hemorrhaging funds from credit cards or other forms of debt, immediately start setting money aside to aggressively pay your debt off.