Securing a loan when you already have a high debt-to-income ratio (DTI) can be challenging, but it's not impossible. Whether you're looking to consolidate existing debt, fund a major purchase, or cover unexpected expenses, understanding how to navigate the lending landscape with a high DTI is essential.
Let’s explore strategies and solutions to help you obtain a loan even with a high debt burden…
When considering financial responsibilities, being a cosigner is a significant commitment. It entails vouching for someone else's creditworthiness and agreeing to cover their payments if they falter. One pressing question for cosigners is how this role affects their own financial situation, specifically when it comes to their debt-to-income ratio (DTI).
Let’s explore the intricacies of DTI, the implications of cosigning on loans, and the potential financial impact for those who choose to stand as guarantors…
The start of a new year marks a clean slate for setting, and achieving, future goals. However, with record-breaking credit card debt closing out 2023, many Americans find their slates a little less clean as they would like. Compounded by high interest rates and inflation, it may feel like there’s no way – or point – to making any New Year’s resolutions for 2024.
That is, unless you decide to make debt resolution your New Year’s resolution. If you’re finally ready to stop living under the looming shadow of credit card debt, you’ve come to the right place. Let’s go over a few tips and methods you can implement to move your financial needle in the right direction in the New Year… and stay there.
In the intricate world of personal finance, the question of how much debt is appropriate before considering bankruptcy is both complex and subjective. The decision to file for bankruptcy is a significant one, with profound implications for an individual's financial future.
In this blog, we’ll give a brief overview of scenarios where filing for bankruptcy might be a prudent choice, and situations where alternative paths should be considered…
Buying a home is one of the most exciting milestones in anyone’s life. However, if you're carrying a significant amount of debt, it's important to understand how debt consolidation can impact the home buying process.
In this article, we will go over the concept of debt consolidation, its impact on home buying, and the pros and cons associated with it. We'll also explore various debt consolidation methods and provide tips on successfully managing debt consolidation while pursuing your dream of homeownership.
For many Americans, the 2023 holiday season is a cause for celebration and also stress. With record-breaking credit card debt surpassing $1 trillion for the first time, it may feel like a lot of consumers are getting lumps of coal in their stockings this year.
Are you struggling with mounting debts and a less-than-stellar credit score? Don't worry, you're not alone. In fact, Americans now owe $1.08 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York. The good news is that there are debt consolidation loan options available even if you have bad credit…
As if being in debt weren’t bad enough, facing a debt lawsuit can be a daunting experience. About 15% of Americans said they had been sued by a debt collector, according to a report by the Consumer Financial Protection Bureau. Thankfully, you have legal rights and options to defend yourself should you end up in this situation. In this blog, we’ll go over some of the most effective strategies to have your debt lawsuit dismissed.
Inheriting wealth or assets from a loved one can be a mixed blessing. While it can bring financial stability and security, there's often a nagging question at the back of one's mind: can you inherit their debt? The short answer is yes, it's possible to inherit debt, but the circumstances and extent of this responsibility vary greatly. Let's break down the different scenarios where inheriting debt may occur, and steps you should take if you feel you are wrongly pursued for said debt
If you're looking for a dependable way to guarantee yourself a regular income over a long span of time, you might be thinking about investing in annuities… but how much do you REALLY know about them? Before you make any life-altering decisions, let’s explore what annuities can (and cannot) do for you.
It should come as no surprise that according to Bankrate / AIMS Public Health, 48% of individuals with debt are more likely to experience symptoms of depression, stress, and anxiety. That means, on any given day, millions of Americans are struggling with both financial and mental wellness. So, how can you manage your mental wellness in order to manage your financial wellness?
You’ve undoubtedly heard it again and again. From articles and TV commercials to friends and family, plenty of folks are talking about the benefits of investing in annuities to guarantee yourself a steady income in your Golden Years… but are they a good choice for you?
Do you find yourself needing to negotiate a cash settlement with an insurance company? Don't worry, you're not alone. Many people find themselves in this situation after experiencing an accident or loss. In this article we’ll explore the ins and outs of the negotiation process, including how to prepare for it, and some of the things you should consider along the way.
If you are struggling with credit card debt that is significant enough that a collections agency is involved, life can be pretty darn stressful. From phone calls and texts to notifications in your mailbox and email, it’s tough to feel like you’ll ever escape this never-ending situation.
Don’t worry: all is not lost. We’ve helped many customers in situations just like yours over the years, and we’ve got some tips to help you resolve that debt and get back on track financially.
If you settle a legal claim and will be receiving structured settlement payments is in your future, you may be wondering how long you can expect to wait to receive your first payment. Obviously, waiting times can vary because everyone’s situation is unique. However, understanding the factors that can affect the timeline is a great way to manage your expectations so you can start planning your new financial future
In many ways, financial stability is a lot like being in good health. It isn’t until we fall out of those categories that we truly appreciate how much simpler life can be without medical or financial challenges.
Health issues often carry complications with them such as daily medicine, strict diets and the stress of monitoring blood pressure, blood sugar levels or any number of other things that many of us never need to think about. Similarly, financial issues like debt lead to plenty of complications that the debt-free world is never faced with – especially when it comes to legal issues.
There are lots of terms and phrases that we hear all our lives without every truly knowing exactly what they mean or how they work. Tax write-off. Algorithm. Supercalifragilisticexpialidocious. However, there’s one word that being discussed an awful lot lately: recession.
Being let go from a job can come as a shock—and the last thing you want to do when you get that bad news is try to understand a complex contract. So what should you do if you’ve been fired or laid off? If your employer gave you a severance agreement, knowing what to look for can help you minimize the stress of losing your job and looking for a new role.
If you’re starting to plan for retirement and have family that could depend on you financially at some point, there are a few things that you can start doing now to offset the effects of the staggering retirement savings crisis.
If you have a structured settlement, it’s likely that you’ve encountered the frustrating issue of having money that rightfully belongs to you trapped in a future annuity payment. But it’s possible to get a lump sum for your structured settlement payments. If you need money now, not later, then selling might be the best solution for you!
Your debt-to-income (DTI) ratio is a helpful—but often overlooked—tool for measuring your ability to repay your debts successfully. Knowing your DTI can give you insight as to how long it might take you to repay your debts and whether you can afford to take on more debt.
What does it mean when old debt appears with a newer date on your credit report? This guide covers how debt re-aging could be a good thing sometimes and how it might violate the Fair Credit Reporting Act other times.
Every couple thinking about cohabitating or getting married needs to have a conversation about finances—and doing a complete survey of your finances together can be a huge deal. Much of the tension in this conversation comes down to how to draw the line between the couple as a solitary unit and the couple as two individuals. If you're considering consolidating your finances with a spouse or cohabitating partner, here are some useful strategies that could help you manage your finances together.
Whether you’re just beginning to learn the basics of personal finance or you’ve been managing your money for a while, chances are there's a lot you still have to learn about how credit works. If you’ve ever found yourself scratching your head about anything credit-related, this is the guide for you.
Taking care of your mental health is taking care of your financial health, and vice versa. We've gathered some actionable tips for breaking the seemingly never-ending cycle of financial difficulty and mental health issues.
Debt settlement is a big commitment toward pursuing a healthy financial future - so what are the results that make it worth the effort? We asked real JG Wentworth customers to share some of the major benefits of debt settlement.
Learning financial literacy at an early age can make a significant difference when you enter the workforce. Taking control of your finances before you graduate can help offset college expenses and ensure there is cash on hand if emergencies arise
Everyone cares about their retirement – it’s something people work and plan for their entire lives. And like other potential income sources – such as savings accounts, 401(k)s and Social Security payments, to name just a few – annuities can be an extremely important part of any retirement plan.
It’s no secret that credit card debt in the U.S. has skyrocketed to an all-time record high: $1.13 trillion and counting. In this current financial landscape, high interest rates can quickly lead to a situation where debt becomes an overwhelming vicious circle. Thankfully, there are some methods to manage, and mitigate, this kind of debt. Consolidation is one such effective strategy to deal with this financial burden.
When financial storms brew, individuals may find solace in the legal shelter provided by Chapter 7 bankruptcy. However, the decision to file for Chapter 7 is complex, involving a careful evaluation of one's financial landscape.
Let’s explore the eligibility criteria for Chapter 7, the amount of debt that might warrant its consideration, and examine some of the pros and cons associated with this significant financial decision.
Credit card debt can put a strain on anyone's financial situation. The stress of dealing with mounting bills and relentless collection calls can feel overwhelming. But, can you actually face jail time for falling behind on your credit card payments?
Let's dive into the legal consequences of credit card debt and find out what protections you have as a consumer...
Annuities are financial instruments designed to provide a steady income stream, often extending through an individual's retirement years. However, the inevitable question arises: What happens to a person's annuity when they pass away? Can they be inherited? What are the tax implications?
Let’s explore the various scenarios and considerations related to the fate of annuities in the event of the annuitant's death, shedding light on the complexities and offering guidance for those navigating these financial waters…
It’s that time of year again, and with the holidays fast approaching, the coming weeks can be filled with a combination of excitement and stress for many Americans. After all, the desire to be generous can often be in direct conflict with one’s financial situation. Complicating matters for the 2023 holiday shopping season are rising interest rates and the resumption of student loan payments.
So, what options do budget-conscious holiday consumers have if they don’t want to incur more debt?
For many of us, an automobile is more than a vehicle… it’s a bonafide member of our family. Whether we take it to and from work every day, drive it far and wide on family vacations or simply use it as a place where we can hop in, crank up the music and escape from everyday stress, our cars can feel like a second home – and equally worthy of protection.
In today's world, debt collection agencies have become increasingly common. Whether you owe money for medical bills, credit card debt, or even student loans, it's crucial to understand how to handle these situations effectively. One of the most important tools at your disposal is a dispute letter. If you find yourself in a situation where you need to dispute a debt, a dispute letter can be a powerful tool to fight back against unfair or inaccurate claims made by collection agencies. In this article, we’ll explore the ins and outs of creating a collection agency dispute letter template and offer tips on how to make it as effective as possible.
If you're considering investing in annuities or already have one, you might be wondering about their tax implications. Are annuities taxable? Well, the answer is not as straightforward as you might think. In this article, we'll dive into the world of annuities and unravel their tax intricacies.
Struggling with debt is frustrating enough on its own, but that stress only gets worse when debt collectors get involved. The letters, the phone calls, and the emails from companies you’ve never even heard of can seem never-ending, all to demand payment for debts you may not even remember owing. In these cases, you need to figure out if the debt collector is legitimate or if you're being targeted by a scam.
Sounds daunting, doesn’t it? No worries - just keep reading and learn how to protect yourself against con artists with ease.
A Debt Relief program (like JG Wentworth’s) can be a fantastic way to jumpstart your financial future. By negotiating with your creditors, experienced Certified Debt Specialists can often settle your debts to significantly lower the amount you owe and create a manageable path to resolving your debt once and for all.*
Simpler, quicker and more effective than making partial monthly payment? Seems like the perfect way to leave your debt in the proverbial dust. However, it’s important to understand the potential ramifications of this Debt Relief method in order to truly decide if it’s the best path for you.
When it comes to improving your financial life, it takes discipline and consistency. You need to commit to yourself to form healthy financial habits and meet your goals. That’s why we’ve started the 70-Day Financial Fitness Challenge!
If you’re single and financially independent, you’ve probably noticed that our financial system seems to be designed with married couples in mind. Almost inexplicably, there are tons of perks given to people who get married and stay married that single people can’t reap. So where does that leave singles' finances?
Getting a call from a debt collector can be incredibly stressful. We’ve answered some of the most common questions people have about dealing with debt collectors, so if you’re ever contacted by one, you know what to do!
Becoming financially stable doesn’t happen overnight; rather, it’s an intentional process that takes a lot of time and planning to get on track. Setting goals for yourself and sticking to them is a great way to set yourself up for financial well-being throughout your life, from the start of your career through retirement and beyond.
As they near retirement age, many Gen Xers are looking into their financial future and grappling with the potential of unfavorable outcomes in the face of economic and social instability. Here are four interesting facts about the typical Gen Xer that exemplify the unique financial circumstances Americans born between the mid-’60s and mid-’80s face.
If you want to make your structured settlement payments work for you and your loved ones in the long run, it's wise to find ways to use your funding that add value to your net worth. We've compiled a list of common ways people use their payments to invest in their future.
Sheena Monk drives the JG Wentworth Ford Mustang GT4 #877 as part of an exciting brand partnership. We caught up with Sheena, who talked with us about all things racing, life, and her partnership with JG Wentworth.
Planning for death can be a difficult conversation to breach, especially when it comes to personal finance. But if you have a structured settlement, it’s in your loved ones' best interest for you to start planning now. We've broken down some of the things you should think about when deciding what will happen to your structured settlement payments when you pass.
You spent a lot of time looking at places before you made the decision to buy your home. For you, it might’ve been the best choice, but that doesn’t mean that everything about the property is perfect. Chances are you had ideas on how you could improve your home from the first month you moved in, if not before.
As more people are continuing to work from home, it’s easier to notice areas that can use improvement. Renovations can have practical and aesthetic value, while also boosting curb appeal if you choose to sell or lease your home.
Contact JG Wentworth today to find out how we can help you.
JG Wentworth does not provide financial advice and its representatives are not financial advisors. The information on this site is not intended or implied to be a substitute for professional financial advice. All content, including text, graphics, images and information, contained on or available through this website is for general information purposes only.