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MMI offers nonprofit financial education and counseling to Colorado consumers struggling with debt, budgeting, housing, and student loan concerns.
A debt management plan (or DMP) is a form of debt consolidation, but it's not a loan. Like a consolidation loan, it has benefits and drawbacks. Both can be effective ways to manage and repay debt, but there are key differences to keep in mind and a few subtle ways to determine which is right for you.
Jim Kline funded a lot of his 20s with credit cards. When he entered his 30s, the combination of credit card payments and student loans overwhelmed him and he knew he needed to make a change.
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Are you knee-deep in debt and not sure how to dig yourself out? By being organized, diligent, and having grit, you can create your own do-it-yourself debt repayment program and become debt-free all on your own.
Getting your head around exactly how credit works can be intimidating. Here's a rundown of what goes on a credit report, how long each piece of information stays there, and how it might impact you.
Credit cards can be good for several kinds of purchases. Using them for travel expenses helps you earn points or cash back incentives, for example. But there are certain things you shouldn’t use credit cards for.
If you’re looking for a way to get debt free, you may be considering consolidating your debts, trying to settle with your creditors, or getting on a debt management plan. It can be important to understand and compare your options, because they could affect your finances and credit in different ways.
Student loan borrowers may have the option to defer their payments while they’re enrolled at least half-time and during a grace period after leaving school. However, deferring your payments might be a decision that comes back to bite you later.
When it comes to poor financial health, we tend to assume the only solution is money. Of course, that’s simply not true.