You have to have a solid income, a substantial savings account and a decent credit score to qualify for a mortgage. Typically, you will have to show years of reliable payments made on rental properties or other lines of credit as well to prove that you know how to...
Year: 2021
What does it mean when your wages are garnished?
After working diligently in your chosen career, imagine the surprise when you look at your pay stubs and see that you are missing money. You had a budget that was depending on those funds, and now they are gone. What happened? It’s called garnishment of wages. Many...
Three things you can do to keep medical debt off your credit report
A serious illness or an injury can disrupt your life in many ways. You need to recover, and you may be overwhelmed for a moment as you struggle to get back on your feet. There is a strong chance your finances will be impacted too. If an unpaid medical bill finds its...
3 benefits of filing a Chapter 13 bankruptcy instead of Chapter 7
Many people think of Chapter 7 or liquidation proceedings when they think about bankruptcy. However, there are multiple different forms of individual filings. Other than Chapter 7, Chapter 13 is arguably the most common. Chapter 13 filings require a repayment plan...
Why should you avoid cash advances if possible?
When you receive a credit card in the mail, it will usually come with a list of terms and conditions that govern it. One of the things that you’ll notice is that you have the ability to get cash advances from your credit card. This might seem like a good thing, but it...
Do you have any options if you can’t afford to repay your student loans?
Student loan interest rates have been at 0%, and there's been a pause on monthly payments since March 27, 2020. That reprieve comes to an end on Oct. 1, 2021. Many lawmakers fear borrowers won't be able to foot the bill for what they owe once that happens. If the...
Cancer is one of the leading causes of bankruptcy filings
For many people diagnosed with cancer, their medical battle will be one of the most strenuous experiences of their life. However, thanks to incredible advances in modern medicine, cancer of many different forms has never had better survival rates. The only downside to...
Is medical debt really out of control in America?
The short answer to this question is, “Yes, yes it is.” According to reports from the U.S. Census Bureau data, 19% of American households -- nearly one out of every five -- is struggling under the weight of unpaid medical debts. This is problematic for a number of...
Credit card balance transfers often hurt more than they help
Professionals who help others optimize their credit score will often tell people to have multiple lines of credit. Having several different credit cards, store lines of credit, a vehicle loan and student loans will look better than just having one credit card,...
Can you hide your vehicle to avoid a repossession?
Plenty of people have been in this position: They can’t make their car payment on time, but they need to go to work to earn the money to pay their bills. They know that a repossession is possible, but so long as they move their vehicle or put it in places where it...
