Debt Consolidation Loan
Qualification/Questions to Ask /Who Can Benefit
- Lowering your DTI
- Need help consolidating debt and lower your monthly payments
- Working towards buying a home
Debt Settlement Program
Qualification/Questions to Ask /Who Can Benefit
- Experiencing severe financial hardship
- Have more than $4,500 total debt
- Trying to avoid bankruptcy
- Multiple accounts charged off or in collections
Good Debt vs. Bad Debt
Good debt
Good debt is debt that improves your income or net worth, can be repaid responsibly and has a good return on investment.
Examples include:
- Mortgage loans
- Real estate investments
- Student loans
- Business expenses
Bad debt
Bad debt, on the other hand, is debt that you are unable to pay, does not provide a return on investment, loses value after the transfer of ownership, and negatively impacts your credit.
Examples include:
- Credit card debt
- Personal loans
- Payday loans
- Auto loans
Good debt is debt that improves your income or net worth, can be repaid responsibly and has a good return on investment.
Examples include:
- Mortgage loans
- Real estate investments
- Student loans
- Business expenses
Bad debt, on the other hand, is debt that you are unable to pay, does not provide a return on investment, loses value after the transfer of ownership, and negatively impacts your credit.
Examples include:
- Credit card debt
- Personal loans
- Payday loans
- Auto loans
