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Dealing Dealing with Debt

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Page 1: Dealing with Debt Signs of Debt Distress Place CashCourse URL Here in Master Slide| 2 Using credit card cash advances to pay for living expenses. Having

DealingDealingwithDebt

http://www.valenciacc.edu/

Signs of Debt Distress

Place CashCourse URL Here in Master Slide | 2

•Using credit card cash advances to pay for living expenses.

•Having checks returned for insufficient funds

•Using the overdraft protection plan on your checking account to pay monthly bills.

•Using savings to pay bills.

http://www.valenciacc.edu/

Signs of Debt Distress

Place CashCourse URL Here in Master Slide | 3

•Using one credit card to pay another.

•Delaying one bill (or ‘floating”) to pay another overdue bill.

•Paying only the minimum due on charge accounts.

http://www.valenciacc.edu/

Signs of Debt Distress

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•Using payday loans.

•Being over the limit on one or more lines of credit.

•Delaying medical and dental visits because you don’t have enough cash to pay for them.

http://www.valenciacc.edu/

Page 5: Dealing with Debt Signs of Debt Distress Place CashCourse URL Here in Master Slide| 2 Using credit card cash advances to pay for living expenses. Having

A Month at a Time

Place CashCourse URL Here in Master Slide | 5

http://www.valenciacc.edu/

Page 6: Dealing with Debt Signs of Debt Distress Place CashCourse URL Here in Master Slide| 2 Using credit card cash advances to pay for living expenses. Having

Taking Control

Place CashCourse URL Here in Master Slide | 6

http://www.valenciacc.edu/

Page 7: Dealing with Debt Signs of Debt Distress Place CashCourse URL Here in Master Slide| 2 Using credit card cash advances to pay for living expenses. Having

Prioritizing Repayments

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• Highest balance first!

• Highest interest rate second!

• Lowest balance next!

Also consider how much interest will you pay over time?

Use this information to help you prioritize your debt repayment

Use power payments

http://www.valenciacc.edu/

Page 8: Dealing with Debt Signs of Debt Distress Place CashCourse URL Here in Master Slide| 2 Using credit card cash advances to pay for living expenses. Having

Power payAs you pay off each account

Take that payment and add it to your next priority

PAYMENT PLAN AS CARDS ARE PAID OFF #1Master Card $100.00 Master Card PAIDVISA card $60.00 VISA $160.00JCP card $40.00 JCP card $40.00

AS ARE PAID OFF #2CARDS AS CARDS ARE PAID OFFMaster Card PAID Savings $100.00VISA card PAID Retirement $100.00JCP card $200.00

Place CashCourse URL Here in Master Slide | 8

http://www.valenciacc.edu/

Page 9: Dealing with Debt Signs of Debt Distress Place CashCourse URL Here in Master Slide| 2 Using credit card cash advances to pay for living expenses. Having

Use these CashCourse calculators to help

• How Long Until My Loan is Paid Off?• http://www.calcxml.com/do/det02?skn=124

• What Is The Impact of Making Extra Payments?• http://www.calcxml.com/do/det09?skn=124

• How Long Will it Take to Pay Off My Credit Card?

• http://www.calcxml.com/do/det01?skn=124Place CashCourse URL Here in Master Slide | 9

http://www.calcxml.com/do/det02?skn=124

http://www.calcxml.com/do/det09?skn=124

http://www.calcxml.com/do/det01?skn=124

Page 10: Dealing with Debt Signs of Debt Distress Place CashCourse URL Here in Master Slide| 2 Using credit card cash advances to pay for living expenses. Having

Available Resources

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• Financial Aid Website

• Community Resources•Money Management International (MMI) and its family of Consumer Credit Counseling Service (CCCS) agencies make up the largest nonprofit, full-service credit counseling agency in the United States.

•www.moneymanagement.org

Page 11: Dealing with Debt Signs of Debt Distress Place CashCourse URL Here in Master Slide| 2 Using credit card cash advances to pay for living expenses. Having

Avoid the Quick Fix

Place CashCourse URL Here in Master Slide | 12

• Pawnshops

• Payday Loans

• Title Loans

• Tax Refund Anticipation Loans

Page 12: Dealing with Debt Signs of Debt Distress Place CashCourse URL Here in Master Slide| 2 Using credit card cash advances to pay for living expenses. Having

You’re Worth It!

Place CashCourse URL Here in Master Slide | 13

• Learn from past mistakes

• Commit to being debt free

• Spend less

• Save more

Page 13: Dealing with Debt Signs of Debt Distress Place CashCourse URL Here in Master Slide| 2 Using credit card cash advances to pay for living expenses. Having

Now What? Complete the CashCourse Expense

worksheet.

Complete the CashCourse Debt Recovery worksheet.

Seek assistance – variety of resources available to help you!

Set up a savings account.

Breathe.Place CashCourse URL Here in Master Slide | 14

Page 14: Dealing with Debt Signs of Debt Distress Place CashCourse URL Here in Master Slide| 2 Using credit card cash advances to pay for living expenses. Having

These materials are for non-commercial educational use only.

CashCourse is a trademark of the National Endowment for Financial Education

www.nefe.orgwww.CashCourse.org

Place CashCourse URL Here in Master Slide | 15

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Debt crisis and social distress of the CongoleseMunich Personal RePEc Archive Debt crisis and social distress of the Congolese Izu, Akhenaton Université de Kinshasa 11 April 2014

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