Debt Relief Articles
What is a 401(k)?
Updated Jan 17, 2023By Minh Tong
A 401(k) is a retirement savings plan sponsored by an employer. It lets workers save and invest a piece of their paycheck before taxes are taken out. Taxes aren't paid until...
Read MoreThe Truth in Lending Act
Updated Jan 17, 2023By Melissa Cook
The Truth in Lending Act (also known as the TILA) is designed to promote the informed use of consumer credit. It requires lenders to provide customers with clear...
Read MoreSecured Loan
Updated Jan 05, 2023By Melissa Cook
A secured loan is a type of loan that is backed by collateral, which is an asset that the borrower pledges as security for the loan. This collateral serves as a guarantee for the...
Read MoreAnnual Percentage Rate
Updated Jan 05, 2023By Melissa Cook
An annual percentage rate (APR) is a measure of the cost of borrowing money, expressed as a yearly interest rate. It is typically used to compare different loan or credit products...
Read MoreLoan Officer
Updated Jan 05, 2023By Minh Tong
A loan officer is a financial professional who works for a bank, credit union, or other lending institution. Their primary responsibility is to evaluate loan applications and determine...
Read MoreFederal Reserve System
Updated Jan 05, 2023By Minh Tong
The Federal Reserve System, also known as the "Fed," is the central banking system of the United States. It was created in 1913 by the Federal Reserve Act in response to a series...
Read MoreHome Equity
Updated Jan 05, 2023By Minh Tong
Home equity refers to the portion of a homeowner's property that they own outright. It is calculated by subtracting the remaining balance on the mortgage from the...
Read MoreLine of Credit
Updated Jan 05, 2023By Minh Tong
A line of credit is a type of loan that allows a borrower to access a specific amount of money that they can borrow and repay as needed, rather than borrowing a set amount...
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