Bad debt is debt that typically carries a high interest rate and is incurred to purchase items that depreciate in value. Credit card debt and auto loans are the most common forms of "bad debt."
See Also:
How I Ditched My Debt For Good
Ask An Advisor: How to Recover Financially From a Divorce
A Hands-On Way to Pay Down Debt
Help Us Get to Know You Better*
DailyWorth is building a new savings & investment platform.
WorthFM (Balance Worldwide Financial, LLC dba WorthFM) is a registered investment advisor with the U.S. Securities and Exchange Commission ("SEC"). WorthFM will soon launch and appreciates your interest in our services. We will communicate with you in connection with the official launch of our investment advisory services. This waitlist does not create an advisory relationship and does not imply any limits or preferential treatment with respect to WorthFM services. Please contact us at info@worthfm.com with any questions you may have.
Thanks for answering all our questions!
Welcome to DailyWorth.
DailyWorth can change your relationship with money. Sign up now to receive daily emails filled with financial and career advice, thought-provoking articles, and an occasional kick in the pants.