Polonius in William Shakespeare’s Hamlet said that mixing loans and relations was damaging because “for loan oft loses both itself and friend.”  But how dangerous is it to loan/borrow from friends and family?
Let’s look at some advantages and disadvantages of borrowing from family and friends:
Pros:

Low interest rates, if any
Instant access to money
Banks are tight, only means to obtain funds

Cons:

Relationship is jeopardized if loan is not paid
Financial situation is no longer private
No protection due to not being formal

Financial transactions between people with personal ties tend to …

Facing a mountain of debt is not a pretty prospect – for anybody. Debt is often accompanied with stress and grief – and other things you already know about. The good news is that there are steps that you can take that will help you to bring your debt under control. Here are some practical tips to help you find the debt solutions you need.

Count Up Your Total Indebtedness and Monthly Income

If you do not already know how much indebtedness you have, not counting your mortgage, then you need to sit down and total…

The road to debt consolidation always leads to one of two outcomes.
Either your financial burdens will lighten, or they will reach a newer, more crushing weight too difficult to withstand.
Very few people who pursue debt consolidation end up in the middle.
Such extreme results are common with debt consolidation. And finding yourself on the downside of the process is, unfortunately, much easier than breaking free of nearly insurmountable debt.
Debt consolidation is based on a simple principle. Rather than issuing multiple payments each month to multiple creditors with whom you owe substantial …

A debt consolidation loan is generally considered a loan of last resort. By replacing multiple loans with a single loan (one that typically comes with a lower monthly payment over a longer repayment period) debt consolidation loans are appealing on the surface, but enormously complication beneath that otherwise shiny exterior.
Who Needs a Debt Consolidation Loan?
Debt consolidation loans are primarily intended for individuals or families struggling to manage any form of outstanding debt:
• Credit card debt
• Personal loan debt
• Mortgage or housing debt, etc.
Despite sounding like a highly attractive option that, based on incessant …