In addition, the liens on secured debt —
think mortgage and car loan — generally pass through bankruptcy unscathed, meaninig your obligation to pay them remains.
Not exact matches
I
think the simplest explanation is that over the past several decades we've gone from a nation of savers who paid cash for things including homes
and cars to a nation of spenders who use debt like
mortgages,
car loans and credit cards to pay for things.
A hard inquiry is one you usually have to authorize
and is run when you apply for a credit card, a
mortgage, or another
loan (
think car, business, etc.).
Ask them what they
think they will need to earn in their first year at their first job to «feel secure in their financial future»
and to enjoy the lifestyle they envision, knowing that student
loan payments may be a given on top of a
mortgage, a
car payment
and other expenses.
Ted Michalos: Yeah, I
think if all you had was this low interest
car loan and no other unsecured debt or
mortgage or something
and you suddenly came into $ 10,000, I might be more inclined then to put that in a savings account or some kind of investment vehicle just so you have it for a rainy day.
I
think that we've come a long way in disclosing fees for
mortgages,
car loans, credit cards,
and more - but investments are still a very dark area.
Most Americans
think a policy four times their income is sufficient, but the truth is your policy should be at least ten times your income to pay for your medical
and funeral expenses, college
and school fees,
car loans,
mortgage,
and taxes.