Debt Relief

A credit line is like a credit card in many respects.  With it, you have access to cash (within fixed limits) if you need it.  The notable differences are that the interest rates on equity lines are usually far lower than the rates credit card companies charge.  Also, the amount you can use is typically […]



If you are in debt, it’s very smart to focus your energy on getting out of it. You’ll have a lot more financial freedom once you no longer have to make that monthly payment. And let me indulge the math nerd inside us all. If you can pay off a student loan that costs you […]


If you are in debt, especially credit card debt, you might be so focused on getting out of debt that you overlook one of the most important steps – reduce your cost of debt first. The reason this is important is because if you reduce your cost of debt, you can get out of financial […]

{ 1 comment }

Besides the emotional trauma, divorce is frightening from a financial point of view.  Everything changes and many people find they have to reinvent themselves after the split. On top of that, some people have to deal with problems they never had before like budgeting, getting out of debt etc. Here’s a letter I received last week […]


A faithful Wealth Pilgrim reader asked me recently what a good debt to income ratio is. I did a little research and come up with an answer which I will share with you. Then, I want to explain why it doesn’t matter. First things first. What is a debt to income ratio? Your debt to […]


What do you do when someone you care about is completely out of control with their finances? Maybe they’ve run up lots of debt and can’t find a way out.  Maybe it’s not the first time this has happened.  Maybe you are tired of bailing them out over and over again but you don’t want […]