Author Archives: Orlando Torres

Working Toward Financial Freedom

Life After Debt

It’s a sad fact that most people aren’t just lacking wealth, but they’re burdened by debt, not making enough money, and suffering from anxiety over their finances. For some, it will always be a struggle. They’ll never learn how to eliminate what they owe and earn enough money to experience wealth in their lives. All of that could change if they made an effort – but they don’t. Some of it’s due to ignorance about how to implement a plan that would offer them financial freedom. They […]

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Pay Off High Interest Debt and Then Invest Wisely

Life After Debt

If you’re drowning in high interest debt yet realize the need for saving it’s a tough row to hoe on how to accomplish this, but not impossible. Most high interest debt is created by shiny, easy to use credit cards that come with the promise of building up air or cruise miles. You get one air mile for each dollar spent. Some even promise money back. Hey, that could be good. At least you get something back for spending your money through them. Check out the interest […]

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Using a Home Equity Loan or Refinance Option to Get Out of Debt

Getting Out

Homeowners can take advantage of a home equity loan or refinance option to get out of a debt spiral by using the money to consolidate consumer debts. Using a home equity loan means that you take out money against the equity you’ve paid into your home based on the difference between the amount you owe on the mortgage and the current value of the home. For example, if you currently owe $200,000 on a home worth $300,000 at current market value, you’re eligible for $100,000 home equity […]

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Life After Debt

Life After Debt

Understanding why you fell into the deep chasm of debt in the first place is the first step in resolving your issues with debt and building wealth for the future. Know that getting out from under the stigma of being in overwhelming debt can take years. During the years of clawing your way out of the stigma of debt, it can be tempting to get back into debt with offers of credit cards and mismanaging your money – once again. Getting in debt again too soon can […]

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Have a Get Out of Debt Emergency Plan

Getting Out

Heavy debt can make you feel as if you’re drowning. You may feel like an elephant is sitting on your chest preventing you from breathing, feel out of control and feel panic that keeps you from thinking clearly. Until you formulate a plan for getting out of debt, you’ll keep floundering and the debt situation will only get worse. When you’re finally determined to rectify the situation by doing everything possible to get out of debt – it’s time to formulate a plan. First, carefully assess your […]

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Avoid Get Out of Debt Scams

Getting Out

When you’re desperate to get out of debt, you may be tempted to grab the first offer that comes along to relieve the pressure and chaos that debt can bring into your life. Unfortunately, there are get out of debt scams that can bring even more pressure and chaos into your life. You should avoid them at all costs. These scammers target those with high credit card debt by claiming they will negotiate with the person’s creditors or reduce payments or debt balance. This is a false […]

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First Step for Getting Out of Debt – Develop a Budget

First Step

The first and most important step for getting – and staying – out of debt is to create a workable budget. Whether you use a spreadsheet or other form of tracking your spending, you’ll feel more empowered when it comes to your finances and can finally begin to save money for things you want and need when you know exactly where your money is going. First, assess your net income – the money you bring home for expenses. Make sure you don’t use your total salary as […]

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Steps to Getting Out of Debt Forever

First Step

Many of us live in the moment when it comes to finances – if the money is there, or the credit is available, spend it or take advantage of it. If you truly want to get out of debt and remain out of debt, there are some steps you can take to make sure you avoid getting back in to the same old rut while you’re paying off present debt. Always remember that when you put that great sale item you found on a credit card, you’re […]

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Pros and Cons of Using a Debt Consolidation Service

Debt Consolidation

Debt consolidation services can be a big help to getting out of debt and staying out of debt. Secured consolidation loans are secured with collateral, which means it’s less risk for the lender. Unsecured consolidation loans use none of your collateral, but may charge a higher APR. Either way, you’ll benefit from consolidating all your loans into one monthly payment with one lower APR. Secured loans will provide the lowest APR and they’re the easier of the two to obtain. If you decide to use home equity […]

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Debt Consolidation Loans for Bad Credit

Debt Consolidation

There is no question that we live in a time where finances can be tough, and bills can start to pile up. This in turn causes stress and leads to bad credit ratings. At this point all people can think about is getting their heads above water and moving forward with life somehow. Although a bad credit score can certainly have an impact you your lifestyle, this is no reason why anyone should just give up and accept defeat. There are ways to pay off those bills […]

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