Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. A 1099-c cancellation of debt form is issued when a lender forgives or cancels a debt. The 1099 c form helps the IRS account for canceled debts from the previous tax year. The 1099-C cancellation of debt form deals with canceled or forgiven debt from the previous tax year. This form exists to ensure accuracy when reporting taxes and to help filers determine if th ..read more

A nest egg is a substantial amount of money that you save for a specific purpose. Savings accounts, investment accounts and working financial professionals can help you grow your nest egg. A nest egg is a fund that you set aside for a specific purpose. Nest eggs can be large sums of cash that you store in a safe, retirement accounts like 401(k)s and IRAs, or investments like index funds and government bonds.  Nest eggs are one of the best investments for long-term financial goals. This fund shouldn’t be touched until months or years into the future. Below, we’ll further break down wha ..read more

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. The credit repair companies chosen are based on rankings from reputable sites in the financial space.  Credit.com and CreditRepair.com are both owned by Credit.com Holdings, LLC. Oquirrh Mountain Law Group, PC, d/b/a Lexington Law Firm is an independent law firm that uses Credit.com Holdings, LLC, as a provider of business and administrative services. Your cred ..read more

Medical debt can negatively impact your credit score by increasing your credit utilization ratio. Or, if you don’t pay off the debt, by being listed as a charge-off or an item in collections on your credit reports. Medical debt can have a direct impact on your credit score in a few different ways. How it will affect your credit score will depend on a few different factors, like: Where you check your credit score How much medical debt you have How long you’ve had that medical debt If you’ve fully paid off your medical debt If you’re unable to pay your debt, and it goes to collections There h ..read more

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. The term “six figures” refers to any annual six-digit salary that falls within the $100,000 to $999,999 range. Securing a post-graduate degree or attaining a highly in-demand position can help you earn six figures over time. How Much Money Is Six Figures? A six-figure salary can range anywhere from $100,000 to $999,999 annually. If a person had an annual income o ..read more

Credit scoring websites use different formulas and look at different aspects of your credit history to calculate your credit score, so each credit scoring website might give you a slightly different credit score based on their own criteria and methods. Also, keep in mind that the information these sites have might not be exactly the same. They might get their data from different sources or update it at different times, which can also affect your credit score.  Your credit score is one of the primary factors lenders, renters, and other providers of various services look at when consideri ..read more

A prepaid debit card isn’t connected to your bank account. Instead, you buy the card from an authorized retailer, activate it, and then load money onto it. Cash is king, but not everyone wants to carry a wallet full of cash wherever they go. You could always use a debit card or a credit card, but what if you don’t want to share your personal information with another financial institution? A prepaid debit card may be the way to go. Learn more about how prepaid debit cards work and how they’re different from standard debit and credit cards. What Is a Prepaid Debit Card? A prepaid debit card, a ..read more

A tax deduction reduces your taxable income, potentially lowering the amount of income you can be taxed on. A tax credit directly reduces the amount of tax owed. Tax deductions are based on expenses or contributions, such as mortgage interest or charitable donations. Tax credits are applied after calculating how much you owe in taxes and can provide a dollar-for-dollar reduction. When you file your federal and state tax returns, you probably look for ways to reduce the amount of money you owe. To maximize your savings, you need to know the difference between a tax credit vs. a deduction. Bot ..read more

In most cases, cosigners are not listed on the title unless they are also listed as co-owners of the vehicle. Typically, it depends on the laws and regulations of your specific jurisdiction. If you’re having trouble getting a car loan, using a cosigner could help. Before you take this step, it’s important to understand what a cosigner is and how having one on your car loan works. For instance, is a cosigner on the title of a vehicle? It’s crucial to understand the role cosigners play when purchasing a vehicle. In this article, we’ll cover what you need to know about using a cosigner and the i ..read more

The average tax refund in 2023 was $2,903. And while getting a tax refund often means you overpaid to begin with, that hefty chunk of change hitting your bank account can spawn some great feelings. Before you drop all that dough on your next vacation or an impulse buy, consider whether you can do something more responsible with it.  For example, did you know you can use your tax refund to build credit? 6 Tips for Using a Tax Refund to Build Credit 1. Pay Down High-Interest Debt One of the most impactful ways to use your tax refund to build credit is by paying down high-interest debt, suc ..read more