I promised myself that I would stay away from lists for a while, but I had to share this. Bankrate lists and then explains 15 things that Debt Counselors want you to know. Read another way, follow these tips to avoid debt trouble. Choose a topic that pertains to for finances and read their explanations. All-in-all, it's a very quick read and straight to the point.
- Freebies are lethal.
- If you co-sign, that debt is yours.
- Bouncing a couple of checks can cost you your bank account.
- You need a plan.
- Auto leases can be hazardous to your financial health.
- Your old emergency fund might not cut it.
- Don't always reach for that debit card.
- If your name is on the bill, it doesn't matter what the divorce decree says.
- Balance transfers aren't a panacea for credit problems.
- If you're late on one card, another could raise your rates.
- Challenge your credit card bill.
- Take your time if you're using auto dealer financing.
- Pay the rent or mortgage first.
- Don't dig the hole deeper.
- If you're struggling, steer clear of second mortgages or home equity offers.
