debt

6 ways to suffer a debt disaster in 2016

Want debt trouble? Do this
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Want debt trouble? Do this | iStock.com/Wavebreak

Want debt trouble? Do this

Let's be frank: There is no such thing as "good" debt.

Still, most people have some kind of debt, and these financial obligations aren't all evil.

From credit cards, student loans and home mortgages to auto financing, payday loans and more, each type of debt comes with its own concerns for borrowers.

Yet, there are some broad principles that apply to all debt. Violate them and you could find yourself in a world of hurt with respect to how much you owe and how much it ultimately will cost you to pay if off.

With that in mind, here are 6 things you definitely do not want to do with respect to your credit and debt this year.

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Debt Adviser

Don't be seduced by this debt plan

Dear Debt Adviser, I have about $50,000 of debt on credit cards. My credit rating is still high. I am thinking about a debt consolidation loan. Will that adversely affect my credit rating? -- DT Dear DT, The cliche... Read more

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