Is Personal Loan Interest Tax Deductible?-Easily Explained 

Is Personal Loan Interest Tax Deductible

No, personal loan interest is not tax deductible. However, if you use the loan money for your business, taxable investment, or higher educational purpose then the interest might be tax deductible.  Thinking about taking a personal loan but not sure whether personal loan interest is tax deductible or not.  Well, you are in the right … Read more

What Is A Billing Cycle?- Simply Explained With Examples 

What Is A Billing Cycle

A billing cycle is the time frame between your last statement’s closing date and the current statement’s closing date. It is also known as the statement period and generally lasts between 21-55 days depending on the product or service.   Credit cards are great financial tools if you understand them properly. To understand credit cards you … Read more

What Is An Overdraft Protection?

What Is An Overdraft Protection

With Overdraft Protection, your bank covers your transactions when you don’t have balance in your checking accounts without overdraft fees. Bank collects the required funds from a linked savings accounts, credit cards, line of credit to cover the transaction of the overdrawn account.   We have all faced a situation when our debit card transactions declined … Read more

Can You Go To Jail For Not Paying Student Loans in 2024?

Can You Go To Jail For Not Paying Student Loans

No, You can not go to jail for not paying student loans. Because student loans are considered as civil debts. However, if your student loan borrower sues you in court and you disobey court order or don’t appear in court then you might end up in jail. But it’s rare.   Did you miss your student … Read more

Can Debt Collectors See Your Bank Account Balance?- Simply Answered In 2024

Can Debt Collectors See Your Bank Account Balance

Generally, debt collectors can not see your personal bank account balance. However, if you owe money to the same financial institution you have an account with then they might be able to see your bank account balance. Have one of your loans gone to the debt collectors? Now you might be wondering can debt collectors … Read more

How To Find Out If You Have Outstanding Payday Loans- Easy Methods In 2024

How To Find Out If You Have Outstanding Payday Loans

To find out if you have outstanding payday loans, contact your payday loan lender, provide the necessary personal information and ask if you have any outstanding payday loans. Did you a take payday loan but not sure whether it’s satisfied or not? If so, then find out ASAP. Otherwise, you might end up paying a … Read more

How To Use Debt To Make Money- Exclusive Tips To Build Wealth In 2024

How To Use Debt To Make Money

To make money out of debt, you need to use your efficient debt responsibly like investing debt in a profitable business, using debt to acquire assets, using debt to acquire skills or education, debt recycling, and paying off inefficient debts with the profits from the above investments, etc. Using debt to make money might seem … Read more