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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Image by GettyImages; illustration by Bankrate If you receive income or have any taxable activity, such as a business or other entity, the government expects you to pay taxes. And to file taxes, the IRS requires that you provide a taxpayer identification number, or TIN. What is a taxpayer identification…
Credit: Images by GettyImages; illustration by Jessa Lizama/Bankrate Understanding the difference between gross and net income can be helpful for tracking and improving your financial situation. While both gross income and net income refer to the money you earn, there are key differences: Gross income is the total amount of…
Alistair Berg/DigitalVision/Getty Images One of the highest rewards rates on the market, you can earn 5 percent cash back on rotating or handpicked categories with the cards below. Plus, you might earn 2 to 3 percent on additional categories and 1 percent on everything else. Take a look at the…
Key takeaways A prepayment penalty is a fee designed to discourage borrowers from paying off a loan early, before the term is scheduled to end. Refinancing your mortgage, selling your home or making extra payments might trigger prepayment penalties. Prepayment penalties can only be charged on conventional loans, mainly non-conforming…
Logo courtesy of Ally Bank Ally Bank is an online-only bank offering a wide range of financial products, including deposit accounts such as checking and savings accounts. The bank’s money market account, in particular, offers a high annual percentage yield (APY) that’s a solid choice for customers looking for a…
In a unanimous decision, the U.S. Supreme Court ruled that a Catholic organization qualifies for a tax exemption even though its operations were not primarily religious. The decision overturned a Wisconsin Supreme Court ruling. Background Under Wisconsin law, certain religious organizations may be exempt from paying taxes, including unemployment compensation…
Inflation has been stealing from your paycheck, and all signs indicate that’s not going to change anytime soon. Even if your salary hasn’t changed, the cost of groceries, gas and essential services have risen, leaving many Americans feeling like they’re working harder for less purchasing power. A 2025 Bankrate analysis…
Homeowners insurance is usually not tax-deductible for personal residences, but you may be able to deduct part of the cost if you use your home for business or rent out a portion. Most personal expenses related to homeownership don’t qualify, so it’s important to understand the exceptions. A financial advisor…
You generally need earned income—such as wages, tips, or self-employment income—to contribute to a Roth IRA, since these accounts are meant to support retirement savings from active work. If you don’t have earned income, you typically can’t contribute directly, though exceptions like spousal IRAs or indirect strategies may offer alternatives.…
San Francisco-based Chime, the largest digital bank in America, wants to go public at a price between $24 and $26 per share, which implies a fully diluted valuation of about $11 billion, according to a new press release and filing with the Securities and Exchange Commission (SEC). That’s down steeply…
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