Millionaire Acts

Having huge debts is definitely a burden that’s why I always advise to manage your finances properly. However, if you already have huge debts, one way to pay these debts is through a structured debt settlement. While it may sound too technical to you, structured debt settlement entails restructuring of your loan. This can be negotiated with your creditor. You will have to enter a deal that will either lower your monthly amortization or extend your paying period so that debt payment will

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Having lots of debts is different to manage. You may need to track down all debts from one creditor to another including interest expenses and late payment charges. One solution to handling multiple debts is through debt consolidation. Debt consolidation entails taking out one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan. More often, debt consolidation involves a secured loan

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First of all, I would like to greet you all Merry Christmas to everybody! Thanks for being a regular reader of my blog Millionaire Acts. Everyone wants Christmas to be meaningful. Christmas is definitely the season for gifts and shopping. During Christmas, a lot of people go to malls to buy various gifts to be given to their friends and loved ones. People just need to spend more during Christmas season. The effect? – traffic jam, growing credit card debts, lots of to-do lists, etc. I

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In one of my previous posts, I mentioned about the difference between good debt vs. bad debt. In summary, good debt provides money into our pockets while bad debt drains money out of our pockets. In the long run, good debt becomes asset while bad debt becomes liability. What will you do if you have an unsurmountable amount of bad debt? One of the easiest way to accumulate bad debt is through an undisciplined use of your credit cards. You keep on swiping and swiping that card without you

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Debt has always been considered as a liability. Yes, in most cases, debt is a liability because it is money owed to someone else. One classic example of a liability is a credit card debt. When you use a credit card, you’re taking a loan from the bank or company that issued the card. With that loan come interest payments. You generally do not pay interest for the first credit card cycle (usually a month), but any amount not completely paid off after that first cycle is subject to interest.

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