While some debt is normal and can help raise your credit score, unhealthy amounts of debt can lead to financial problems and even the need to file for bankruptcy. This video outlines a few simple tips to help you avoid accumulating debts that will harm your financial future. Calculating how long it will take to repay loans and how interest rates affect your payments can help you make better borrowing decisions. Other smart practices include paying off your current loans before taking a new one, and never securing a loan to pay off another debt.
Do you need help managing debt or filing for bankruptcy in Schaumberg? The experienced bankruptcy attorneys at Cutler & Associates, Ltd. are dedicated to providing you with the legal support you need during bankruptcy proceedings.