My wife already has about $190 in debt. She is planning to pursue a higher education, which will help her to earn more. However, that will mean adding up another $45K in debt.
We are planning to combine our finances as we will get married soon.
My question is, if my wife opts for income based repayment plan, will that be calculated based on our joint income or they will consider just her income?
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.