List Categories | List All Articles | List Articles By Title
Surviving High Debt States
Are you more likely to have more debt according to what state you live in? In a recent report done by Experian on the debt averages per state, the answer is yes! The report, compiled from approximately 3 million consumers nationwide, shows that the North East states of New Hampshire, Connecticut and Rhode Island have the highest average overall debt in the nation of $16,845, $15,314 and $14,643. The report measures overall debt of a consumer; everything present on a credit report, including credit cards and installment debts but excluding mortgage debt. Massachusetts, Maine and Delaware also followed closely behind the top three.
The states listed with the lowest average debt were Mississippi, Washington D.C., and Oklahoma. These states reported around half of the debt of the northern states with $8,420, $8,655 and $8,823. So what factors make the debt averages so different between these states? Cost of living plays a role with the higher cost of living in the New England and coastal areas versus the South and Midwest areas.
Another contributing factor is the low mortgage rates and availability of credit. The ease of acquiring credit leads consumers to purchase luxuries on a buy-now, pay-later basis when they otherwise may not have purchased at that time. The Federal Reserve reports that Americans spend half of the money they acquire from refinancing their homes on vacations and home improvements.
The report from Experian also recorded the average debt by age groups, concluding that Americans in the age groups 40-49 and 50-59 showed the highest amount of debt. Experian analysts, explaining that as age increases, people are building their lifestyle, explain this as "sensible". It seems backwards in my opinion. It would make more sense if those approaching retirement age would concentrate on eliminating their debt. It doesn't seem like a high priority to prepare for the years when they won't have their regular income and savings will carry them through retirement. Any debt that includes interest is compounded by that interest. Consumers end up paying two to three times the original purchase price once interest is included. Credit scores even seem to condone high rates of debt. It's common to see a consumer with a high debt ratio with excellent credit even though they may be maxed out on what they can spend and what they owe. More debt can mean better credit.
Consider the possibility of being debt free. When it comes time to retire and your income is limited, you will own everything that you have. If an emergency arises you will have the resources, such as credit cards or savings, to pay cash instead of taking on higher monthly payments. Also, when you buy something with cash, you actually own it. Credit purchases are only yours when you are done paying for them, regardless of when you take them home.
The simplest way to eliminate your debt and high interest payments is to pay them off. As an annuity recipient you are receiving your money over a number of years. While you are waiting for your payments, you are paying interest on all of your debts. Consider selling your annuity for the cash you deserve now. With an advance on your future payments you can eliminate your debt and high interest payments that leave you paying much more for everything you have. Consult a financial professional and an attorney for advice on your annuity. You can experience the freedom of being debt free and owning everything you have.
Jason M. Rigler
Structured Settlements Offer Advantages over Lump-Sum Payments
A structured settlement, which offers injury victims cash payments through a long-term annuity as compensation for their damages and medical expenses, offer a number of possible advantages over payment in a lump sum. While the lump sum payment is the traditional way for responsible parties to pay accident claims, the structured settlement offers payments over the span of an agreed-upon period of time.
Class Action Lawsuits
First of all, let me say that anyone who has been in any way hurt or injured by any other party and settled through a class action lawsuit, disregard this article. I am more interested in the little frivolous lawsuits that award pitiful amounts to offended parties who most likely had no idea they were offended.
What is Structured Settlement?
Because it is tailor-made for individual cases, the structure may also include some immediate payment to cover special damages. The payment is usually made through purchase of an annuity from a Life Insurance Company.
Cash For Structured Settlements - The Smart Way
For most people when they buy a house it is considered their life's largest deal. In some cases of structured settlements the compensation and financial considerations for a persons life duration and the total present value of the settlement can reach few millions of dollars.
Structured Settlements Are Like Ants
Ants are powerful creatures. The powerful ant legs are able to lift 20 times their body weight, and run the equivalent of a man running as fast as a racehorse.
Making Backwards Choices
I was reading this past week about a woman who lost 170 lbs in 9 months by eating backwards. She had breakfast for dinner and dinner for breakfast.
Me'Lisa Delaney, 43, is brain-injured as a result of a 1984 medical error that caused a stroke during surgery. The hospital agreed to settle via a structured settlement, as overseen by a county conservatorship.
If This Describes You, Dont Cash out Your Annuity
There are companies that purchase future payments. Personal injury settlements are often structured to pay out over time.
The Target Capital Structure
Firms can choose whatever mix of debt and equity they desire to finance their assets, subject to the willingness of investors to provide such funds. And, as we shall see, there exist many different mixes of debt and equity, or capital structures - in some firms, such as Chrysler Corporation, debt accounts for more than 70 percent of the financing, while other firms, such as Microsoft, have little or no debt.
Surviving High Debt States
Are you more likely to have more debt according to what state you live in? In a recent report done by Experian on the debt averages per state, the answer is yes! The report, compiled from approximately 3 million consumers nationwide, shows that the North East states of New Hampshire, Connecticut and Rhode Island have the highest average overall debt in the nation of $16,845, $15,314 and $14,643. The report measures overall debt of a consumer; everything present on a credit report, including credit cards and installment debts but excluding mortgage debt.
Structured Settlement - Guaranteed Income for those with Disabilities
Up until twenty years ago, anyone who won a lawsuit as a result of a claim involving worker's compensation, wrongful death or accident had to accept a lump sum payment as their compensation. The payment would be intended to be invested, with the beneficiary living off of the proceeds for as long as their recovery was expected to take.
What is a Structured Settlement
A Structured Settlement is an agreement between a personal injury victim ( a Plaintiff ) and an Insurance company ( the Defendant )to compensate the Plaintiff by the defendant with long term periodicpayments instead of a single cash lump sum.Payments can be tailored to each individual plaintiffs needs, to help meet expenses such as on-going medical and living expenses, education, children needs & support etc' The fixed annuity payments are tax-free to the claimant, a cost-of-living adjustment (COLA) feature is available, that can help offset the effects of inflation over time, payments can continue as long as the claimant lives thus providing him the maximum benefits.
Consider a Structured Settlement?
Structured settlements have been around for a long time however their popularity has steadily increased over the past 6 years. In 1999 only 7% of insurance settlements that were under $7,000 were completed as structured settlements.
The Cost of Not Having Money
The self-esteem factor of not having enough money is underestimated. You know what I mean don't you? The agony of financially struggling and the ecstasy of financial abundance are dramatically different moments in a person's life.
Have you ever looked around and wondered how everyone is buying houses? Are they really doing that much better than you are? Maybe. Maybe not.
Options for Lawsuit Settlement Winners Receiving Periodic Payments
On January 22,2002, President George W. Bush signed into law a bill that protects individuals who must sell their structured settlement payments to meet unplanned financial needs.
A Revolutionary Fundraising Opportunity -- Life Settlements
Amid fundraisers' growing concerns about the current charitable giving climate, dampened by the erratic stock market and shaky economy, a new fundraising opportunity has emerged - Life Settlements.What is a Life Settlement? A Life Settlement is the sale of an existing life insurance policy for a lump sum of cash that is more than the cash surrender value.
Individual Voluntary Arrangements. IVA
What is an IVA?There is an alternative to bankruptcy called an "Individual Voluntary Arrangement" (IVA). This is a formal arrangement through the county court to pay an agreed amount off your debts over a shorter period.
Structured Settlement Factoring
Have you received a structured settlement recently? A structured settlement can be a good thing if you have been a victim of malfeasance, have been severely injured or can no longer physically work. Structured settlements will help you pay bills.
How To Form a UK Limited Company
When starting a business, a large number of people go down the route of forming a limited company or, to give it its full title, a limited liability company.The alternative for someone starting up in business on their own is to trade as a sole-trader.
home | site map
All articles are copyright to their owners.
Note: this website lists articles, We do not Write Articles !