Q&A
Asked by an anonymous user
Answered by Chad Freeman, Branch ManagerPRO+ in Bethesda, MD
Hello: It could be that there are some institutions that may have their own internal overlays that say otherwise, but generally speaking, the answer is "yes". In mo...
Q&A
Asked by Michael
Answered by Pamela J. Horack, , CFP®PRO+ in Lake Wylie, SC
Hi Michael! I'm a huge fan of paying off debt as soon as possible. You can't build your finances up if you are busy filling in a hole of debt. Make a plan to focus all...
Q&A
Asked by Jamie
Answered by Chad Freeman, Branch ManagerPRO+ in Bethesda, MD
Jamie: Thank you for your inquiry. DTI is determined by taking whatever secured debt you have (generally those on your credit report) against your income, represent...
Q&A
Asked by an anonymous user
Answered by Julia M. Carlson, Financial Adviser in Newport, OR
No! It’s generally a poor decision to take from your retirement to pay any bills. The reason is that your 401k is earning and building for what you’ll need later. It’s...
Q&A
Asked by an anonymous user
Answered by Kim Miller, CFP®PRO+ in Redmond, WA
I'm not sure what you are asking - what is "credit reduction"?
Q&A
Asked by AuntieCathie
Answered by Bradford Creger, MoneyTips ContributorPRO+ in Pasadena, CA
Auntie Cathie, Yes, pay off the credit cards – but that’s probably all you should do. I see no one has told you that at today’s low interest rates it is probably m...
Q&A
Asked by Yunas
Answered by Kate Holmes , CFP®PRO+ in Las Vegas, NV
Hi Yunas. It's up to each person how much and what kind of debt they acquire. One of the things I highlighted in "The Millennial Next Door: How To Be Financially Succe...
Q&A
Asked by an anonymous user
Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
A secured card is likely your best route to go now. A lot of folks think they can 'avoid bad credit" by not using credit, but as far as lenders go, no credit history ...
Q&A
Asked by an anonymous user
Answered by Heath Schneider, Mortgage BrokerPRO+ in Las Vegas, NV
Paying off high interest credit cards with a mortgage is a good idea if you can commit to the new budget and avoid charging up the cards again. Do your best to limit ...
Q&A
Asked by an anonymous user
Answered by MoneyTips Writing Staff, Financial Adviser in Los Angeles, CA
It would be helpful for our professionals to know why you are considering a debt consolidation. Is it to reduce high interest rates or some other reason? In the me...
Ask a pro a question
Have your question answered by a professional
Characters remaining: 140
$firstLetter
Asking as: $ss.eas.userParams.displayName
Log in or sign up with email
By submitting you agree to our Terms of Service

Credit Cards

Credit Cards
Free MoneyTips Membership!

Get FREE, full access to MoneyTips.com