A debt in collections appears on your credit reports for seven years from the month of the first missed payment that triggered the collection effort. A collection account can damage your credit scores, but its impact will lessen over time. A debt in collections remains on your credit reports for seven years from the month … Read more
The advice in this article is offered by the team independent of any bank or credit card issuer. This article might have content from our partners, and there are rules that apply to any deals that you click on or link to from this page. as of posting date, but offers mentioned may have expired. … Read more
High credit card balances and late payments are common culprits, but there are other factors worth checking. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does … Read more
Q. My credit has always been good, and my brother’s credit stinks. He just got married and they want to buy a house. I’m thinking of co-signing the mortgage. What do I need to consider? — Brother. A. It’s very kind of you to want to help your brother, but before you do, you need … Read more
Although retirement savings are generally best saved for your later years, some 401(k) plans offer the flexibility to withdraw money early if you’re facing a qualified financial hardship. Here’s an overview of 401(k) hardship withdrawals, including how they work and what qualifies as a hardship. A 401k plan helps employees save and invest for retirement … Read more
While paying off your debts often helps improve your credit scores, this isn’t always the case. It’s possible that you could see your credit scores drop after fulfilling your payment obligations on a loan or credit card debt. However, that doesn’t mean you should ignore what you owe. The benefits of paying off your debts … Read more
Review your credit score and scoring factors to find out which accounts you should pay off first. As a general rule, prioritize past-due accounts and high-interest credit card debt over installment loans if you want to improve your credit. If youre focused on improving your credit scores, paying down or off certain debts can be … Read more
A company called Spotloan lends money online and gives short-term installment loans to people with bad credit. But is Spotloan a real business that you can rely on? This guide will answer all of your questions about the company and help you decide if it’s the right lender for your needs. Overview of Spotloan Spotloan … Read more
A house is one of the most expensive things you can buy, so figuring out how much you can afford is very important. You’ll need to start by weighing how much money you have coming in — your monthly earnings from your job, investments and any other streams of income — versus how much you … Read more
What do underwriters do and what do they look for when reviewing loan applications? Check out this comprehensive guide to answer those questions and more. Table of Contents. Giving loans to your customers usually takes a lot of screening and even more paperwork, which means it takes a lot of your time. Professional underwriters look … Read more