Debt settlement companies technically aren’t allowed to charge fees until after lowering a consumer’s debt. But a loophole in the Telemarketing Sales Rule — and a mish-mash of federal and state laws — allows predatory firms the opportunity for exploitation. A growing corner of the $23 billion debt relief industry…
Image: Getty Images; Illustration: Bankrate No movement for home equity rates in the latest week. The $30,000 home equity line and the five-year $30,000 home equity loan were unchanged, holding at 7.18% and 7.84%, respectively, according to Bankrate’s national survey of lenders. As home equity rates remain at their lowest…
Did you know? According to the Federal Reserve Bank of New York, in the last quarter of 2025, credit card balances increased to $1.28 trillion among Americans? That is $44 billion more than the previous quarter. The challenging economic conditions make it even harder for an average individual to survive…
Key takeaways Buying a second home will effectively double your housing expenses, so consider your overall financial picture carefully first. If you plan to rent out the home to offset some of the cost, be sure to research local regulations and tax implications. If you plan to vacation there, make…
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Last year, on the day before Tax Day, my mom was scheduled to fly into Philadelphia International Airport to stay…
The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
With Republicans ending the Grad Plus program, private lenders are eyeing billions in new business, while some students could be…
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Car prices keep soaring — the average price of a new vehicle topped $50,000 for the first time last year, and the share of Americans taking on $1,000 monthly car payments passed 1 in 5, also a record. If you’re considering a new car loan…
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Paying off Debt on a Fixed Income: Making Sacrifices and Learning Patience Paying off debt on a fixed income requires discipline. Jill emphasizes…
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For fintech startups, the first five years of the decade have been a roller-coaster ride. At the outset, companies were awash in easy…
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Winning the lottery can create instant wealth, but it also introduces immediate tax considerations. U.S. tax law generally treats lottery prizes as taxable income at both the federal and, in many cases, state levels. Winners may qualify for certain deductions that decrease how much they owe, but full tax exemptions…
Custodial accounts are a common way for parents and grandparents to save or invest on behalf of a minor, but they often raise tax questions. The IRS generally treats the minor as the taxpayer but special rules, such as the kiddie tax and optional parent reporting, can complicate things. A financial…
The President’s proposal to cap credit card rates at a maximum of 10% over the next year has gotten a lot of attention in the midst of a national affordability crisis. It’s understandable. Rates are flashy, and it sounds good to talk about bringing them down. But I’d argue they…
Relationships provide comfort, companionship, and support throughout all of life’s challenges. However, when financial pressures, like high credit card debt enter the equation, even the strongest relationships can be burdened. If these financial pressures are creating friction between you and your partner, you are not alone. With the right plan,…
Whether you’re making a budget or planning your retirement date, it typically comes down to the same basic math: how much money you can reliably generate and how does that compares to your budget. To help you estimate how much you will need for retirement, let’s work through an example…
MesquitaFMS/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways Unlike banks, credit unions often limit membership to those belonging to the same community, workplace or organization, though there are credit unions with unrestricted membership. Credit unions tend to charge lower fees compared to banks, but you should still compare fees and account…
Key takeaways With the back-to-school shopping season in full swing, families should take every opportunity they can to save money. One way to lower costs is to shop during a tax-free weekend or holiday, if one is offered in your state. To boost your savings further, pair tax-free weekend shopping…
The tax implications of a parent living with you depend on several factors, including financial support, income levels and household arrangements. In some cases, you may be able to claim a parent as a dependent, which can affect credits, deductions and filing status. Shared housing can also influence eligibility for…
Americans are estimated to spend a record breaking 29.1 billion (National Retail Federation NRF) on this Valentines Day. While chocolates and dinners are nice, the most romantic gift you can give your partner is financial security and transparency. Navigating finances as a couple is a rewarding challenge. Creating a shared…
Selling a home below its fair market value can trigger tax considerations that go beyond a standard real estate transaction. When a property is sold at a discount, the IRS may treat part of the difference between the sale price and market value as a gift, which can affect gift…
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