For many people living in the United States, debt is a part of life. Student loans, mortgages, automobile payments, medical debt, personal loans and credit card debt are just a few of the kinds of balances the average person might be carrying with them.
While debt is common, there are still many myths and misconceptions about debt and debt repayment. These myths can impact how you take on debt, how you pay off debt and even the options you might consider when it comes to debt relief.
Knowing the facts from the myths can help you be responsible about taking on debt and paying it off, while taking away some of the mystery of the world of debt.
Myth 1: All debt is bad debt
While debt may seem like a scary thing, and a monthly debt payment …
Read the full article at: https://www.bankrate.com/personal-finance/debt/top-10-myths-about-debt/