Since lending is a risky endeavor, lenders are usually interested in lending money to people with good credit history. It is not surprising as good credit implies that someone will...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 10/19/2021
Defaulting on your business loan will trigger a series of negative consequences. It might accelerate the loan, making you owe the entire loan balance rather than what is outstanding...
You might need to report the canceled amount as income on your tax return if you could get a debt write-off or forgiveness. You should know what to expect so you don't end up with...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 09/20/2021
One of the not-so-good aspects of a credit report is getting rid of negative listing even after its payment or the difficulty in removing it. By logic, it seems reasonable that as...
One aspect of credit reporting rules that can cause more problems than any other is eliminating paid negative listings or, rather, lack of removal. The logic seems to suggest that...
Posted by Taxes Made EZ Inc on 07/17/2021
Your credit can take the biggest hit after bankruptcy - the negative sign can stay on your credit report for ten years. But you can rebuild your credit with hard work and responsible...
Posted by Taxes Made EZ Inc on 07/06/2021
Getting a notice from Uncle Sam that you have outstanding debt can be devastating, especially if you believe there is some mistake. Sadly, owing Uncle Sam and ignoring him will...
A student's credit card helps students pay for college needs of students without income. It is also a good idea for a student whose credit score is not enough for a regular credit...
It is glaring that the lesser you pay, the longer you remain in debt. Besides, bear in mind that the interest of the debt keeps growing, and your credit score also takes a blow. If...