Category: Debt
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After How Many Days of Missed Payments Will Federal Loans Default?
Federal loans default after 270 days of missed payments, leading to severe consequences such as immediate due of unpaid balance, legal action and loss of eligibility for future aid. To avoid default, borrowers need to contact their loan servicer proactively, possibly adapting the repayment plan or applying for forbearance or deferment. Even after defaulting, loan…
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How to use Debt to make Money?
Debt is often associated with financial burdens and negative consequences. However, when used strategically and responsibly, debt can be leveraged to create opportunities and generate wealth. This article aims to provide a comprehensive guide on how to use debt as a tool to make money. By understanding the principles, risks, and potential rewards, individuals and…
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How to Get out of Debt
Getting out of debt can be an incredibly challenging and daunting task. It seems that banks and lenders have a vested interest in keeping you in debt for as long as possible, with the potential for them to profit from interest and fees. However, it’s important to remember that debt can have serious consequences, affecting…