Capital Gains
Capital gain refers to the profit that an individual or entity realizes when they sell an asset for a price that is higher than the price they initially paid for it. In other words, it is the difference between the purchase price of the asset and the price at which it is sold. Assets that […]
Consumer Finance Protection Bureau (CFPB)
The Consumer Financial Protection Bureau (CFPB) is a federal agency in the United States that was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The CFPB is responsible for ensuring that financial markets operate fairly and transparently for consumers. It has the authority to regulate financial institutions and to enforce […]
Charge-Off
A Charge-Off is a financial term used to describe a situation where a creditor writes off an outstanding debt as uncollectible. In simpler terms, it means that the creditor has given up on trying to collect the debt and has decided to close the account. When a borrower fails to make payments on a debt for an […]
Credit Counseling
Credit counseling is a service offered to individuals who are struggling with debt management or are looking to improve their financial situation. It is a process that involves working with a trained credit counselor to review your financial situation, create a budget, and develop a plan to manage your debts effectively. Credit counselors are trained professionals who work […]