Avada Car Dealer News

According to new research, Americans are consolidating debt completely wrong. It has been said that debt management is crucially important to understand in order to properly complete your debt consolidation objectives. With several different types of debt such as lines of credit, installment loans and revolvicg credit is so important to understand your overall debt structure before you can properly put toghether a plan for consolidation.

Examples of Debt

Here are some common examples of debt. It’s important to note that debt is common and a very practical approach to managing money approporaitly.

  • What is a line of Credit?

    A line of credit is a loan against an asset you’ve used as colletral. a popular line of credit is a Home Equity line of credit or a HELOC.

  • What is an installment loan?

    An installment loan is any loan where you have a fixed payment over a predefined term. A common installment loan would be an auto loan

  • What is revolving credit?

    Revolving credit is an open credit account for a predetermined amount with a flucuating intrest rate that can be paid monthly. A good example of revolving credit is a credit card.

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