Subprime credit is when your credit score is below 620 to 680, depending on the source. Some people feel that subprime credit allows people to get cars and houses that they otherwise would not be able to get. However, having subprime credit could cause you to have higher interest rates and higher fees.

A Reaffirmation Agreement is typically used in the bankruptcy process when you file for bankruptcy and you want to keep a house or a car. The Reaffirmation Agreement keeps you liable on the mortgage or the car loan even after the bankruptcy process.

In September of 2016, TransUnion found that consumers could be affected by 25 basis points in the federal interest rate hike, which is .25%. Of credit-active consumers, 68% of them would face a change in their monthly payments. If you have a variable rate product, you could face a payment shock. You may have a […]