Michelle Clardie

2 months ago | bankrate.com | Michelle Clardie |Michelle specializes |Aylea Wilkins |Thomas Brock

Governments often borrow money to cover deficits when taxes and other revenues don’t cover expenses. The national debt is the total amount of money a country’s government owes to its creditors. A higher national debt can affect personal debt through increased interest rates, reduced benefit programs and potential tax increases. Regardless of the national debt, prudent personal debt management can help to protect you and your family financially.

Jan 7, 2025 | columbian.com | Michelle Clardie

According to the Kaiser Family Foundation Health Debt Survey, 41 percent of American adults have debt relating to medical or dental care. Around 14 million Americans, or 6 percent of the adult population, owe more than $1,000 in medical debt, while approximately 3 million Americans owe more than $10,000. While thousands of dollars of medical debt is untenable for most people, it’s particularly overwhelming for those living on a small income.

Nov 15, 2024 | finance.yahoo.com | Michelle Clardie

There is no minimum amount of debt required to file for bankruptcy. Because of legal fees and long-term financial consequences, it may not be worth filing with less than $10,000 in dischargeable debt. Filing for bankruptcy is best reserved as a last resort because it is expensive and will damage your credit. Consider alternatives like debt payoff strategies, debt consolidation loans or debt relief services.

Nov 7, 2024 | finance.yahoo.com | Michelle Clardie

Voters unhappy over soaring prices, including runaway housing costs, helped put Donald Trump back in the White House. But what will a second Trump presidency mean for the real-estate industry, and home buyers and sellers? It means higher mortgage rates in the immediate term, but further down the line, another Trump administration could also mean less regulation and more tax incentives across the board, experts told MarketWatch.

Aug 29, 2024 | finance.yahoo.com | Michelle Clardie

Key takeawaysConsumers with large amounts of debt or lower credit scores are often targeted for debt relief and credit scams. Scammers may contact you with promises of significant results and demand large upfront payments. You can protect yourself from scams by ignoring unsolicited offers and researching legitimate debt relief and credit repair options. The average American has an estimated debt balance of $96,371.