Long-term care costs: It’s all about location, location, location

One of the largest concerns of many “more mature” clients is their readiness to pay for long-term care if it becomes necessary. With the nursing home costs median over $100,000 per year, a couple’s liquid assets can quickly evaporate if one or both spouses require long-term care for a number of years. The latest annual …

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Dealing with a deceased relative’s debt

If a loved one dies, are you responsible for his or her unpaid debts? The FTC Consumer information website includes helpful information about dealing with the debts of a deceased relative. While FTC’s information is great – here’s my best advice: Check with an Attorney! An attorney can help you navigate the process and deal …

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Student Debt Impedes Ability to Buy a Home

The National Association of Realtors (NAR) recently polled student debt holders who had not defaulted on their loans. The majority of them graduated from a four-year public or private college. Below is a summary of some of the more interesting findings of the study. 43% of those polled had between $10,000 and $40,000 in student …

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Those Darn Kids – Millennials and Credit Cards

Those darn kids. They never want to do things the way their parents did. Well, when it comes to credit cards – that’s probably a good thing! Millennials just aren’t pulling out the plastic like their parents did, according to a survey of consumer finances. They saw firsthand the troubles that mom and dad ran …

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Government Forgives Certain Student Loan Debts

The amount of student loans outstanding has been called an economic ticking time bomb by some experts – with a long list of reasons why more and more students are having a hard time paying back the borrowed funds. Student loan debt can be difficult to have discharged even in bankruptcy. But there are ways …

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Being Aware of Your Debt Covenants

When companies are approved for a bank loan or line of credit, the loan agreement often contains certain affirmative and negative debt covenants. Debt covenants are conditions that the borrower must comply with in order to adhere to the terms of the loan agreement. Essentially, debt covenants bind a business to specific types of behavior …

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What You Need to Know about Asset-Based Financing

Asset-based financing, though once considered a financing option of last resort, is now a popular choice for companies that are highly leveraged with debt or do not have a long credit track record for traditional financing. The main difference between asset-based financing and other traditional types of lending is that asset-based financing is secured by …

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