The short answer is: it depends. Paying a debt collector can have both positive and negative effects on your credit score, depending on the specific circumstances. Here’s a breakdown of what you need to know: The Good News: Paying off a collection account can improve your credit score. This is because it removes the negative … Read more
After being let go from my job at a small New Hampshire newspaper in 2013, I made the decision to move to a city I couldn’t afford and had no savings in, just like any other person facing unemployment. Everyone has heard the well-known tagline for New York City, “The city so nice they named … Read more
Homeowners are in a desperate search for methods to lower their monthly expenses, but is it better to allocate any extra money to a savings account or their mortgage? We examine the pros and cons. Mortgage overpayments have reached their highest points in over 20 years due to rising interest rates, which has made it … Read more
If someone owes money at the time of their death, the debt becomes the estate’s responsibility. The executor, who is in charge of administering and allocating the deceased’s property, may utilize it to settle debt. Just because someone dies doesn’t mean their debt disappears. Creditors could come after assets left behind to cover the money … Read more
This page’s content is correct as of the publishing date, but some of the deals may have ended. If you carry an American Express credit card, you probably already know the drill. When you’re finished shopping and prepared to buy something, you go up to the checkout counter in a random store. However, before you … Read more
Reviewed Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors opinions or evaluations. Once your lender approves you for a home loan, you’re not quite at the finish line yet. You’ll still need to pay for closing costs, which are upfront fees related to the mortgage. … Read more
If youre looking for a few tips on managing a high car payment, youre not alone. The average monthly car payment is now a record $733, according to Edmunds. Furthermore, even if your monthly auto loan payment is approximately $500, that could still be too high. And thats before adding up the cost of maintenance, … Read more
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and heres how we … Read more
No, an IRS audit does not directly affect your credit score. Unlike other types of debt like credit cards or loans, tax debt is not reported to credit bureaus by the Internal Revenue Service (IRS), so it will not affect your credit. Even if you owe money to the government, your credit score won’t fall. … Read more
You may be considering your options for handling your mortgage payments as you get closer to retirement. You’re in the right place if you’re over 55 and thinking about getting an interest-only mortgage. This article will go into detail about interest-only mortgages for senior citizens, assisting you in determining if this type of loan is … Read more