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Debt
Debt is the amount of money that a person owes to a lender or creditor. Ideally, debt decreases over time as the borrower pays off the debt, usually with interest. The interest rate is usually established between lender and borrower.
Loans
"Borrowing money costs money."
A loan is a borrowed sum of money that must be paid back over time. One can take out a loan for many different reasons.
Financial
Freedom!
The ultimate goal is to become financially stable and free. There is nothing wrong with debt and loans, as long as they are managed responsibly.
MORTGAGES
A mortgage is a loan used to buy property or real estate, where the property / real estate serves as collateral for the loan in case the borrower is unable to meet their monthly payments.
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PAYDAY LOANS
Payday loans are short-term, high-interest loans that are typically due on the borrower's next payday. They are intended for emergencies and are often used to cover unexpected expenses or to bridge an income gap. They are typically unsecured loans and are often associated with high fees and interest rates.
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LOANS
A loan is a sum of money that is borrowed and typically needs to be repaid with interest. It is frequently used for various purposes, such as purchasing a house, paying for education, or supporting a business.
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DEBT RELIEF
Debt relief is a financial service that provides strategies for how individuals or businesses manage their debts. Typically, this involves creditor agreements and/or reorganization of outstanding debt.
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CREDIT REPAIR
Credit repair is the process of identifying and correcting errors or inaccuracies on one's credit report. The goal of credit repair is to improve a person's credit score and increase their chances of being approved for loans or credit cards with favorable terms.
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