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the expense becomes consumer debt and you are then subject to associated penalties and fees. Consumer debt can affect your ability to secure a mortgage, pass a credit check for a rental application, or get a job.

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the expense becomes consumer debt and you are then subject to associated penalties and fees. Consumer debt can affect your ability to secure a mortgage, pass a credit check for a rental application, or get a job.

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the expense becomes consumer debt and you are then subject to associated penalties and fees. Consumer debt can affect your ability to secure a mortgage, pass a credit check for a rental application, or get a job.

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the expense becomes consumer debt and you are then subject to associated penalties and fees. Consumer debt can affect your ability to secure a mortgage, pass a credit check for a rental application, or get a job.

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How does this debt affect their financial life?

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How does this debt affect their financial life?

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debt affects their financial life by in residential mortgage , buyers pledge there houses to the bank also the bank has a claim on it but the case of forecloser  that can effect the home tenants and sell the house by using income and can clear moregage debt

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the expense becomes consumer debt and you are then subject to associated penalties and fees. Consumer debt can affect your ability to secure a mortgage, pass a credit check for a rental application, or get a job.

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the expense becomes consumer debt and you are then subject to associated penalties and fees. Consumer debt can affect your ability to secure a mortgage, pass a credit check for a rental application, or get a job.

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How does this debt affect their financial life?

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How does this debt affect their financial life?

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. All of a borrower’s credit card accounts will be reported and tracked by credit bureaus. The majority of outstanding debt on a borrower’s credit report is typically credit card debt since these accounts are revolving and remain open indefinitely.

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1.An auto loan’s monthly payment is typically fixed for the life of the loan.

2.An auto loan typically has a length of three to seven years, or 36 to 84 months. A longer-term loan typically has a lower monthly payment than a shorter-term loan, but you pay more money in finance charges over the life of a longer -term loan.

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the number one reason consumers borrow against the value of their homes via a fixed-rate home-equity loan is to pay off credit card balances.

How much a person can borrow is partially based on a combined loan-to-value (CLTV) ratio of 80% to 90% of the home’s appraised value

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Why do people get into this kind of Debt?

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Why do people get into this kind of Debt?

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Credit card debt can be useful for borrowers seeking to make purchases which allow for deferred payment over time

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Why do people get into this kind of Debt?

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Why do people get into this kind of Debt?

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People get into medical debt because in an emergency the hospital stay, ambulance, the doctor, lab services and prescriptions it becomes expensive to pay everything off.

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one out of five adults is paying off debt from medical bills.

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Why do people get into this kind of debt?

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Why do people get into this kind of debt?

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Unless you have the money to pay for a car in full most people get an auto loan usually from the bank so you can pay small or larger monthly payments until the car is fully paid off.

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How does this debt affect their financial life?

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How does this debt affect their financial life?

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This debt can make someone pay this loan back in a lifetime. It can also help get  degree that can easily pay it off. Some students don't graduate making the loan harder to pay off

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People who don't have money to pay for college immediately get loans so they can pay and go to college. They still pay but over a period of time.

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There are 2 (common) types of mortgages fixed rate where the payments stay the same till it is paid off,and Adjustable rate mortgage where the price may vary from cheap to expensive depending on the market for housing(its usually cheaper initially but increases over time as housing is usually an increasing market)

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A right for a health care consumer is that they are allowed a copy of your medical bill. There can be misprints like an addition of an extra zero to your bill.

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How does this debt affect their financial life?

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How does this debt affect their financial life?

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if this doesn't get paid off, the home could be sold to satisfy the remaining debt

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How does this debt affect their financial life? 

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How does this debt affect their financial life? 

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They have to pay off the car plus whatever interest they have, so they don’t save any money either way. If they can’t pay the monthly payments the car gets repossessed so all money that went into the car is gone.

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- 17.5% of students carry student loan debt

-In 2017, about 1 million adults carrying student loan debt defaulted on their loan

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why do people get into this  type of debt

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why do people get into this  type of debt

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because it allow them to borrow money from there home equlity it a type of mortage

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The average Mortgage debt in America is $137,000

65% of homeowners have a mortgage payment

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Other facts to know.(Statistics ) (write 2 facts)

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Other facts to know.(Statistics ) (write 2 facts)

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- Roughly 62% of American adults carry credit card debt (Debt.com)

- The average American credit card debt is $6,375 (cnbc.com)

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Other facts to know.(Statistics ) (write 2 facts)

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Other facts to know.(Statistics ) (write 2 facts)

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- Roughly 62% of American adults carry credit card debt (Debt.com)

- The average American credit card debt is $6,375 (cnbc.com)

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Why do people get into this kind of Debt?

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Why do people get into this kind of Debt?

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A mortgage is a secured debt because the loan is backed by the value of the house itself.