Having a collection account removed from your credit report should help, not hurt your credit score So why does the opposite sometimes happen? There are a few potential reasons why your credit score could drop after a collection deletion The Collection May Have Been Updating One common reason for a credit score drop is that … Read more
Earning a $100,000 annual salary is a major milestone for many professionals. But when you look at the monthly, bi-weekly, and weekly totals, how much does a $100k salary really break down to? In this article we’ll look at the numbers and calculations behind a $100,000 yearly salary. We’ll also explore how location taxes, deductions, … Read more
The most important thing that determines your credit score is how well you’ve paid your bills in the past. It’s the only thing that goes into figuring out your FICO score. To keep your credit score high, you need to make sure you pay your bills on time every month for a long time. What … Read more
Getting a mortgage when you are paid in cash can seem daunting, but it is possible with the right preparation and documentation. As a cash-paid worker, you just need to take some extra steps to prove your income to lenders when applying for a mortgage. Why Getting A Mortgage With Cash Income Is Difficult The … Read more
Paying bills on time is an essential part of financial responsibility. But did you know it can also help build your credit? Here is a complete guide on how paying bills on time can boost your credit scores. How Paying Bills On Time Impacts Your Credit Your payment history makes up a significant portion of … Read more
Collections can be stressful and damaging to your finances However, there is an end in sight After 7 years, collections will fall off your credit report. But what exactly does this mean? This article will explain in detail what happens after 7 years in collections. We’ll cover The impact of collections on your credit report … Read more
Debt is an unfortunate reality for many Americans. The average U.S. household carries $15,000 in credit card debt alone. When debt becomes unmanageable, it can feel like there’s no way out. Some debt collectors use illegal scare tactics about debtors’ prison to intimidate people into paying. But can you really go to jail for unpaid … Read more
NINA loans, which stands for “no income, no asset” loans, were a type of mortgage popular in the early to mid-2000s that required little to no documentation from borrowers. As the name suggests, borrowers did not have to verify their income, employment, assets, or cash reserves to qualify for these loans. This made NINA loans … Read more
Getting rid of or forgiving debt can be a relief, but it can also make your taxes more complicated. Most of the time, the IRS sees forgiven debt as taxable income. So, you might have to pay taxes on the amount of debt that was forgiven. However, some exceptions do apply. What is Canceled Debt? … Read more
Getting your first credit card is an exciting milestone It represents your transition into financial independence and adulthood But it also comes with a lot of questions, especially surrounding your credit limit. A limit of $1000 may seem small compared to others, but is it actually a good starting point? In this article, we’ll walk … Read more