Key Takeaways Reverse mortgages are a loan option for homeowners age 62+ that convert home equity into cash with no monthly payments required. Loan balances grow over time with interest and loan repayment occurs when a borrower permanently leaves, sell…
Category: Debt Guide
A merchant cash advance (MCA) is a form of small business financing in which a company provides you with a lump sum of money upfront in exchange for a percentage of your future sales. It’s not structured as a traditional loan. Instead, the MCA pr…
A loan prepayment penalty is a fee that some lenders charge if you pay off all or part of your loan balance before the scheduled end of your loan term. As the Consumer Financial Protection Bureau (CFPB) explains, this type of fee most commonly appears …
If you’ve filed Chapter 7 bankruptcy before, the U.S. Bankruptcy Code generally requires you to wait eight years before you can file again and receive another discharge. Without being eligible for a discharge, filing Chapter 7 again usually won’t elimi…
If you’ve filed Chapter 7 bankruptcy before, the U.S. Bankruptcy Code generally requires you to wait eight years before you can file again and receive another discharge. Without being eligible for a discharge, filing Chapter 7 again usually won’t elimi…
Early in my career, I went on a TDY assignment that came with a generous per diem. On paper, it looked like a financial win. There was just one catch—I wasn’t going to receive that money until after the deployment. And even then, it took several more w…
Early in my career, I went on a TDY assignment that came with a generous per diem. On paper, it looked like a financial win. There was just one catch—I wasn’t going to receive that money until after the deployment. And even then, it took several more w…
Managing multiple debts with different due dates, balances, and interest rates can be overwhelming. Combining monthly expenses into a single payment may not only offer relief but also make managing debt easier. Understanding how debt consolidation work…
Managing multiple debts with different due dates, balances, and interest rates can be overwhelming. Combining monthly expenses into a single payment may not only offer relief but also make managing debt easier. Understanding how debt consolidation work…
There’s a specific kind of stress that comes with avoiding bills. You see the envelope. The email notification. The reminder. And instead of opening it, you tell yourself, “I’ll look at it later.” Later turns into days. Then weeks. And before you know …