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
Return fraud, which is when you buy something with a credit card and then return it for cash, is dishonest and many people may not know it’s against the law. It may seem like an easy way to get cash quickly, but it has bad effects on both shoppers and retailers. This article will talk … Read more
The Visa Platinum card is a popular credit card that offers some great benefits but is it ultimately a good choice for you? In this comprehensive overview, we’ll take an in-depth look at the pros cons, features, and alternatives to help you decide if Visa Platinum is a good fit. Overview of Visa Platinum The … Read more
Paying your credit card on time is one of the most important things you can do to build and maintain good credit. But does it really have an impact on your credit score? The short answer is yes paying your credit card on time consistently can significantly improve your credit score over time. Here’s a … Read more
Being turned down for loans and credit cards, renting an apartment, or even getting a job can be hard if you have bad credit. That’s why some people use credit repair services to try and raise their credit scores quickly. But is it okay to use these services? Here’s what you need to know about … Read more
When you take out a loan, whether it’s a mortgage, auto loan, or personal loan, you typically start off paying more in interest than principal each month This is especially true in the early stages of a long-term loan like a 30-year mortgage. But why does this happen? Here’s an in-depth look at how interest … Read more
The 15/3 rule has become a popular credit card payment strategy, especially among social media influencers. But what exactly is this method and does it really help you manage credit card debt or improve your credit? Let’s take a closer look at how the 15/3 rule works and whether it’s an effective approach. What is … Read more
Filing for bankruptcy can negatively impact your credit scores and report for years. A bankruptcy can remain on your credit report for up to 10 years from the date you initially filed. This can make it difficult to get approved for new credit loans mortgages, apartments, and more. However, credit repair companies advertise that they … Read more