What happens to someone’s debt when they die? I know, it’s not the most encouraging question, but one of our listeners was curious about it. So, in true The Money Challenge Podcast fashion, we answer the question. Let’s go!
Guest post by Amanda Burke.
Should I consider an adjustable rate mortgage (ARM)? That’s a really good question.
This article was originally published at crosswalk.com.
If you feel like you’re swimming in debt, you are not alone. According to a study from ValuePenguin, 41% of Americans have credit card debt. Those who have credit card debt average over $9,000 of it. According to Lending Tree, the average mortgage, student loan, and car loan balances are $213,700; $36,500; and $10,100, respectively. Many Americans have taken on significant debt.
Believe it or not, marriage and money don’t always seem to mix well. Couples that have been married for a few years sometimes find themselves arguing heatedly over finances.