Key takeaways In a Chapter 7 bankruptcy, creditors can seize certain assets to repay the debts you owe. However, exceptions allow debtors to retain some of their assets (or at least part of the asset’s value). Chapter 13 bankruptcy is more about restructuring debts than forfeiting assets. Under Chapter 13…
Key takeaways The American Express® Business Gold Card and The Business Platinum Card® from American Express let cardholders earn valuable Membership Rewards points in categories common to many businesses. The Amex Business Gold may be a better choice if you plan to use it for everyday business expenses rather than…
Image by Getty Images; Illustration by Bankrate If you’re planning for retirement, one of your key questions is how much you can earn from Social Security — what’s the maximum you can get? As of January 2025, the maximum benefit you can receive at full retirement age is $4,018 per…
Key takeaways Uniformed service members and federal employees can borrow against their retirement plans with a TSP loan. You can borrow a minimum of $1,000. You can borrow a TSP loan for general purposes, and you can use funds to construct or close on a home. TSP loans come with…
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The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
With artificial intelligence beginning to eat away at many white-collar entry-level jobs, and the unemployment rate for recent college graduates…
If a society is going to make intelligent choices in policy, it helps to understand reality, which includes facts and…
New York startup Casap has raised $25 million in new funding to help banks tackle the thorny problem of credit…
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A dashboard-mounted camera (or “dash cam”) won’t typically lower the cost of your auto insurance automatically. Almost no U.S. auto insurers offer a direct discount for installing a dash cam, but having one in your car could still have positive payoffs. Bankrate’s insurance editorial team…
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Key takeaways A divorce decree outlines which spouse is legally responsible for each debt after the divorce is completed. States either have community…
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When it comes to selling coconut water to the health obsessed, New York’s Vita Coco has served up a master class, schooling even…
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Key takeaways Chase Ultimate Rewards allows for a higher redemption value of 1.25 cents when redeemed through the portal and 2.0 cents on average when transferred to a high-value transfer partner. Points can be transferred between different Chase cards and to household members who are also eligible cardholders. Transferring points…
Key takeaways The right business structure can protect your personal assets and impact how much you pay in taxes. Sole proprietorships and partnerships are simple and low-cost, while LLCs and corporations offer liability protection and potential tax benefits. Your choice affects your legal responsibilities, startup costs and how profits are…
Filing an extension gives you an additional six months to submit your tax return, but not to pay your taxes. There is no penalty for filing for the extension itself. However, if you owe money and don’t pay it by the original due date you may face fees and penalties.…
Key takeaways The mortgage interest tax deduction allows you to deduct interest paid on up to $750,000 of eligible mortgage debt on your annual federal tax return, or up to $375,000 if married filing separately. The mortgage interest deduction also applies to the interest on HELOCs or home equity loans,…
FG Trade/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways Federal law requires mortgage lenders to automatically cancel private mortgage insurance (PMI) when the balance of the mortgage drops to 78 percent of the home’s purchase price, or when the loan term is at its halfway point, whichever comes first. You can…
Photography by Getty Images; Illustration by Bankrate If you’ve been watching mortgage rates hover near 7 percent this year, you’re probably feeling frustrated. The dream of homeownership feels more expensive than ever. And for many prospective buyers, purchasing when rates are high means stretching their budget, settling for less house…
Nopphon_1987/Shutterstock Key takeaways A car lien is placed on your car when you borrow money to purchase a vehicle. The lien enables the lender to keep the title until you have paid your loan off. To sell your car, you would need to receive a payoff amount and permission from…
Bitcoin has hit a number of all-time highs in 2025, and the Trump administration is prioritizing rules that open up the crypto world to more investment, including creating the U.S. Strategic Bitcoin Reserve. So it’s no surprise that traders have been actively pushing up crypto prices on the positive shift…
This might come as a surprise, but I’m a credit cards editor who avoids cards with annual fees at all costs. Even though I spend all day researching and writing about some of today’s best credit cards, I’ve yet to be convinced that the benefits of a premium card make…
FICA taxes, which are also called payroll taxes, are mandatory for most working Americans and cover both Social Security and Medicare taxes. Whether you’re an employee or self-employed, you’re generally required to pay FICA tax on your earnings. The FICA tax rate is 15.3 percent, though employees and employers split…
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