Posts Tagged ‘Debt’

Should You Lend Money to Your In-Laws?

Posted May 21, 2009 by Bernz

Money is a sensitive issue even among family and friends. Money has ruined relationships between spouses, siblings, parents and children, and between friends. But money issues between in-laws are particularly sensitive. If this is the case for you, what can you do? Should you let your in-laws borrow money from you during difficult times? And if you decide to lend them money, can you expect it back? There are a lot of issues to consider before letting anyone borrow from you.

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Even the most credit-worthy individuals can become unreliable when they borrow from family members. They might reason out that the money is between families anyway. Even with the best intentions, it is almost impossible to treat the transaction in a business-like manner when dealing with the in-laws. However, before you think that lending money to in-laws is a terrible idea, there are some points you can keep in mind. This will enable you to get repayment in an easy, efficient, and friendly manner. (more…)

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Credit card debt burying you alive? Dig out with these resources

Posted November 10, 2008 by Bernz

Been getting any mailers from credit card companies lately? No? I don’t know anyone who is. Personally, I think going to my mail box and not finding any credit card offers is a real good thing. Americans owe over 900 billion in credit card debt. Unfortunately not all of that credit card debt accumulation can be blamed on instant gratification purchases. Some people use credit cards to buy groceries, obtain cash advances for rent, to pay for health care and medicine.

These days if you happen to be carrying a little too much debt you’re considered as one of the lucky ones. On the other hand if managing your credit card debt is a daily burden (for instance if you fear the loss of your car or other personal assets tied to your credit card) there could potentially be some relief from your bank as they and other consumer groups are lobbying regulators for a plan to help consumers struggling with credit card debt. In this case I believe the best alternative is not to wait for any sort of bank bail out plan but to look for prompt solutions you can take upon yourself. Here are a few suggestions. (more…)

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