Sentences with phrase «repay higher interest debt»

Use their good credit to repay your higher interest debts, and then you make the payments on your parents» new loan.

You may wish to begin repaying the highest interest debt first.

Not exact matches

Make sure you have a plan in place to repay the amount that you borrow against your credit line, so you can pay it off quickly and avoid high interest fees, penalties or possibly incurring a debt you can't afford to repay.

Specifically, Defendants made false and / or misleading statements and / or failed to disclose that: (i) the Company was engaged in predatory lending practices that saddled subprime borrowers and / or those with poor or limited credit histories with high - interest rate debt that they could not repay; (ii) many of the Company's customers were using Qudian - provided loans to repay their existing loans, thereby inflating the Company's revenues and active borrower numbers and increasing the likelihood of defaults; (iii) the Company was providing online loans to college students despite a governmental ban on the practice; (iv) the Company was engaged overly aggressive and improper collection practices; (v) the Company had understated the number of its non-performing loans in the Registration Statement and Prospectus; (vi) because of the Company's improper lending, underwriting and collection practices it was subject to a heightened risk of adverse actions by Chinese regulators; (vii) the Company's largest sales platform and strategic partner, Alipay, and Ant Financial, could unilaterally cap the APR for loans provided by Qudian; (viii) the Company had failed to implement necessary safeguards to protect customer data; (ix) data for nearly one million Company customers had been leaked for sale to the black market, including names, addresses, phone numbers, loan information, accounts and, in some cases, passwords to CHIS, the state - backed higher - education qualification verification institution in China, subjecting the Company to undisclosed risks of penalties and financial and reputational harm; and (x) as a result of the foregoing, Qudian's public statements were materially false and misleading at all relevant times.

However, as soon as you finish paying the debt with the highest interest rate, you should immediately increase the amount you repay on the other debts.

You could even opt for a low - interest loan to repay the debt as soon as possible, which will prevent high - interest repayments, too.

According to him, the relatively high interests on short term debts estimated over 20 billion cedis, has made it difficult to repay.

Another thing you can do in order to increase your available income is to spread your debts into longer repayment programs so as to destine higher amounts towards repaying your higher interest credit cards.

This is important because failing to repay your tax refund anticipation loan on time can lead to high interest rates, late fees, and even more debt.

Finally, it still makes sense to use a home equity line to pay off all of your high - interest credit cards and repay that debt at the home equity line's lower interest rate.

When requesting a consolidation loan in order to reduce the amount of money you have to set aside every month for repaying debt and thus, driving away the risk of bankruptcy, you need to make sure you include only all the debt that has higher interest rates than the consolidation loan.

When you are up to your neck in debt, you can resort to bad credit student loans to pay higher interest debt like payday loans and credit card balances so as to reduce the amount you destine monthly to repaying debt.

Once your high - interest debts are repaid, face reality: if you can't handle credit cards, have only one with a $ 1,000 or less credit limit.

This is particularly helpful if you have high - interest debt that would be cheaper to repay as part of your mortgage.

Higher interest rate debt should be repaid sooner.

A desirable debt exposure is the one that spreads debt along wider periods of time even if the interests are higher because repaying such debt is easier when there are income limitations.

Companies that have significant amounts of debt are hurt by higher interest rates, which force the company to spend more money each year to repay their debt.

As a rule of thumb you want to repay the debt that has the highest interest rate first.

Is prepared to repay the loan (and stop using the credit card): A peer - to - peer loan won't help you if you don't use it to immediately repay your higher - interest rate debts and establish a plan to then repay the loan itself.

The most effective ways to clear debts is to repay the debt with the highest interest / APR rates.

By borrowing against the value of your home, you get the best possible interest rate, and then you use that money to repay your higher interest rate debts.

Because mortgages are traditionally the least expensive form of borrowing (because the loan is secured by your house), you might be able to borrow at a low interest rate to repay your higher interest rate credit card and other debts.

At this meeting, I learned about the importance of repaying high - interest debts, regular saving, and investments via managed funds.

The interest rates are usually very high, so it can be easy for the debt to get out of control if you can't afford to repay on time.

Why it matters: Standard economic theory holds that borrowers should repay high - interest debts first in order to minimize interest payments.

As I mentioned earlier, I ran the math myself, comparing the «optimum» strategy (which means you repay your debts in order of interest rate, highest to lowest) to the «debt snowball» strategy (which means you repay your debts in order of balance, lowest to highest).

Prospero feels repaying credit card and other high - interest debt is simply more pressing than saving for retirement at their age.

Because you repay only a portion of your debts, without interest, a consumer proposal can be a cheaper alternative to a high cost debt consolidation loan or second mortgage or a viable option if you do not qualify for refinancing with your house equity.

A golden rule of repaying debt is to always put as much cash as you can towards repaying the debts which are at the highest rate of interest.

This is important because failing to repay your Quick Cash To Go loan on time can lead to high interest rates, late fees, and even more debt.

Try paying off credit card debt on time and making only small purchases using it so that you are able to repay despite high credit card interest rates.

But amongst the cons of managing loan debt in this way is the fact that the sum of interest repaid over the lifetime of the loan is much higher.

Personally, I like to repay debt with the highest interest rate first.

Debt Consolidation: It is possible to repay other high - interest loans using your home equity loan in Gravenhurst.

Debt consolidation — People with many high - interest loans use their equity to repay and have a single loan to manage.

However, as soon as you finish paying the debt with the highest interest rate, you should immediately increase the amount you repay on the other debts.

Even if your intentions are to use the money to repay debts, many people who do this continue to generate high - interest debt on credit cards or other large purchases and spend unnecessary money on wasted refinancing fees while still losing equity in their home.

May fall into debt again if you start using high interest credit cards and not repay dues in every billing cycle

With no interest ever deals, the repayments are high enough to repay the debt over the term of the loan.

If you are working to repay your debt on your own, it is critical to save the smallest debts for last to overcome high interest rates.

Second, the best balance transfer credit cards help you repay debt faster because they provide some breathing room from high interest credit card debt.

Once the second debt is repaid, you can apply the same idea to the third highest interest rate.

In our previous blog post about using a mortgage as a bankruptcy alternative, we discussed using a mortgage to repay high interest credit card an other debt.

A debt consolidation loan may be good debt, if you are borrowing at a low rate to repay higher interest rate debt.

As we have discussed in our articles on Getting a Mortgage to Pay off your Debts and on Ways to borrow against your house as a bankruptcy alternative it is possible to use the equity in your house to repay your higher interest rate debt.

If you qualify, you may be able to borrow at a low interest rate to repay your high interest rate debts, such as credit cards.

Borrow 25k from your 401K to pay off high interest credit card debt, but before repaying you lose you job, you now have 60 days (normally) to repay the loan but of course you can not repay it — you borrowed it because you had no other source of funds.

Once you are done repaying credit card debt, zero interest credit cards probably are not necessary for ongoing purchases given the high APR..

Make sure you have a plan in place to repay the amount that you borrow against your credit line, so you can pay it off quickly and avoid high interest fees, penalties or possibly incurring a debt you can't afford to repay.

Level 2: increasing income, purchasing life and disability insurance, repaying high - interest debt, beginning retirement savings.