Are you self-employed? Maybe you work as a freelancer for several clients. In order to get a mortgage, you may need to use a bank statement loan, which is a type of loan for people who don’t have steady jobs that pay a salary. You’ll have to meet certain mortgage qualifications when you apply for … Read more
When life throws you a curveball and your credit card debt goes unpaid, it begs the question – what happens to unpaid credit card debt after 7 years?. Although the unpaid debt will go on your credit report and have a negative impact on your score, the good news is that it won’t last forever. … Read more
If you knowingly report inaccurate data on a credit application, you’re committing fraud. And while a credit card issuer might not immediately request verification, legally its possible. Many or all of the products on this page come from partners who pay us when you click on their links or do something on their websites. This … Read more
As much as possible, try to spend less than 10% of your take-home pay on your car payment and less than 20% of your total car costs. 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 … Read more
“Expert verified” means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board is made up of financial experts whose job it is to make sure that all of our content is fair and unbiased. Bankrate is always editorially independent. While we adhere to strict , this post may … Read more
Getting approved for a loan can seem like a mysterious process. You apply, submit your documents, and then wait nervously for the bank’s decision. But there’s actually a method to the madness. Banks rely on time-tested criteria to determine if an applicant is likely to repay the loan. While the exact details may vary between … Read more
A letter arrives from a law office threatening a lawsuit for payment on an old student loan. It’s upsetting but hardly rare. You or your cosigner may get hit with a lawsuit if you have old, unpaid student loans. If you don’t respond in time or attend the court hearing, the creditor will likely win. … Read more
Question: My spouse and I are separating after almost 20 years together. How can I expect the divorce to affect my credit history? Are there steps the two of us can take to separate our credit accounts and debts?. Answer: When two people build a life together and combine finances for years, trying to separate … Read more
If they can get and check all of your information on time, many lenders can pre-approve you for a mortgage in less than a day. You may be asked by your real estate agent if you are pre-approved for a mortgage before you make an offer on a home. At Zillow Home Loans, once you … Read more
Your credit score may go down a few points after a hard credit inquiry, but only for a short time. How many points does one inquiry really cost you? Let’s take a closer look. What Is a Hard Credit Inquiry? A hard credit inquiry, also known as a hard pull or hard credit check, happens … Read more