ow A Financial Advisor Could Help Restructure Debt

Jeff Breault has done some research on personal debt and how Americans struggle with it. The average American has around $38,000 in personal debt. The bulk of these debts are composed of credit card debt and other high-interest loans. These debts have an adverse impact on individuals’ ability to take on new loans to pay for houses and other necessities, and Jeff Breault suggests hiring a financial advisor to get back into good financial shape.

According to Jeff Breault, a financial advisor would look at the nature of the debt first, then consider options for restructuring the debt in a way that is less painful for the client. For example, the client might have high-interest loans that makeup the bulk of monthly payments. The advisor might suggest him to take out a second mortgage on his house and use the proceeds to pay off loans and credit card bills in full. The second mortgage would have a lower interest rate compared to the credit card bills and would have lower payment terms. This would then free up cash for other high-interest debts. The advisor could also take steps to protect the client and his dependents; for example, he could suggest a low-cost life insurance policy in case of accidental death, followed by a retirement fund as the client’s finances are slowly being brought back to health.

Jeff Breault insists that these steps should be documented and signed off by the client. A written plan that covers the next one to five years should include the nature of debt to be paid off, how much would be allocated for each debt, and when the payments are due. A good financial advisor should also be able to indicate warning signs of impending debt so that the client could avoid repeating the same mistakes that brought him into the situation in the first place.

Comments

Post a Comment

Popular posts from this blog

How To Create a College Fund for Your Child

Hello, Jeff Breault here. I am a financial advisor who has been helping clients fund their children’s schooling, save money, and build their own “empires” that they can pass on to their heirs when the time comes. One of the things my clients talk about is how difficult it is to put their children through college. Experts estimate that the cost of college education 18 years from now would be upwards of $100,000 for a public school and double that for a private school. A hefty sum for education, right? Thankfully, you’re working with Jeff Breault. Here’s how I help my clients plan for their children’s education: Have a Plan A lot of things go into planning for your child’s college years. The total amount varies from state to state, but remember that your child might be eligible for scholarships, grants, private student loans, and financial assistance when the time comes. You can use this free tool to gauge how much your child’s education may be in a few years. Start Right
Read more

Listening with Jeff Breault: The Rising Stars of Country Music

As a listener of country music, Jeff Breault likes to stay on top of the new players in the genre. The country music community is one of the most prolific styles in the music industry. One of its most defining characteristics is how fanatically dedicated its following is. Rising country artists are always a big deal, as these musicians aim to join the ranks of legends both past and present. And Jeff wants to highlight some of them. Craig Morgan One of the artists to catch the attention of Jeff Breault is Craig Morgan. With his beard streaked in white, he was a former US Army veteran who began exploring music while on duty. His weathered country voice and poignant lyrics have touched even the most prominent names of the music industry. Country legend Blake Shelton and pop star Kelly Clarkson see him as the next hope of country music. It’s an opinion shared by other greats, especially after his heart-rending new song about his son, Jerry. The Highwomen Women comprise 16% of the count
Read more

Merle Haggard: The Greatest of the Giants in Country Music

Howdy, folks. Jeff Breault here, talking about one of the giants of country music. When it comes to naming the ultimate artist throughout country music, it seems that both Billboard and Rolling Stone agree on one major name that virtually everyone who has ever loved country music will know: the late great Merle Haggard. His Origins Merle Haggard was born in California in 1937. California may not be the particular hotbed of country music that young people may imagine it to be compared to today’s country stars (whose origins usually spring forth from the Southern states), but Merle’s songwriting sprung from the Depression-era. His aspirations towards country music were inspired by the late Johnny Cash. Merle had been in and out of jail at the time. He had seen the country legend perform in prison, and was inspired to start anew once he turned 21. H is Beginning I, Jeff Breault , am especially impressed with how he began his career. Now, he may have begun singing and playi
Read more