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Managing Your finances During Coronavirus The current pandemic has financially hit hard a lot of Americans, forcing them to start thinking about the ramifications of Corona Virus on their finances. The present scenario has led to many people losing out their jobs. It has left them struggling to meet their ends due to less or no income. People are worried that they may land themselves in deep trouble by falling behind their debt payments. They are not only concerned about their health, but they are also worried about managing their finances in this critical time. However, there is no need to feel pressurized. With careful planning and a clear picture of your financial standing, you can manage to get out of this situation easily. Devising a financial plan for emergencies A careful planning for financial setbacks such as reduced income can help you to cope up with the situation more easily. These financial plans can help you feel normal even at the time of...

What can a Coronavirus Stimulus Plan do for you? Well, dealing with debts is an extremely stressful situation. Further, coupling it with the corona virus pandemic makes it even more challenging. The global spread of corona virus has delved the world deeper into the debt, making it much worse than the last big crisis that hit. This situation has led to the shifting of debts from individuals to corporations.  As the businesses deal with the sudden disruption in their cash flows, the worst is being faced by the new generation of companies who are struggling to pay their debts. This includes the class of companies whose prime basis of survival is by issuing new debts.  The longer the pandemic lasts, the greater are the chances that these companies may trigger a chain of defaults, in the same as it was in 2008 due to subprime mortgages. This once in a century pandemic has resulted in a record level of debts. The corporate...

Is Debt consolidation loan a good idea for a bad credit score? Debt consolidation means combining your debts into a single payment. Although, debt consolidation is one of the best debt relief solution but it can also make your situation worse. You can easily go for debt consolidation if you have a good credit score. Even if you have a bad credit score, you can choose debt consolidation. However, in such case lenders usually charge higher interest rates and fees. What credit score is needed for debt consolidation? It’s good to have a credit score of 700 or more to get the best interest rates. The interest rate lies within the range of 5.99% to 35.99%.  The better your credit score, the lower interest rate you will be charged.   Are debt consolidation loans available for individuals with bad credit score? It’s very difficult to get a debt consolidation loan with a low interest rate, if you have a bad credit score. The lenders who...