6 ways to suffer a debt disaster in 2016


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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.