Janet Berry-Johnson

Bankruptcies negatively affect your credit and remain on your credit report for years.
You can qualify for a personal loan after bankruptcy, but approval is harder and usually comes with higher interest rates or fees.
Waiting at least one to two years after bankruptcy discharge improves your changes of approval for a loan.
Filing for bankruptcy can feel like closing the door on future financial opportunities, but it doesn’t mean you’ll never qualify for credit again. While bankruptcy remains ...

Buying a home often requires pulling together a large down payment. And few people have that much money sitting around in a savings account. One option for accessing the cash you need is borrowing from your 401(k).
While it might be possible to use a 401(k) loan to help cover a down payment, it’s not a decision to take lightly. Your retirement account should fund your future, and dipping into it early can have consequences that affect your financial security both now and later.
Before you mov...

Unsecured debt is money you borrow without pledging an asset (like a house or car) as collateral. As a result, unsecured debt often comes with higher interest rates.
Examples of unsecured debt include credit cards, personal loans and student loans.
It’s crucial to manage debt responsibly, as missed payments can hurt your credit and lead to collections or even legal action.
If your debt feels overwhelming, you have options, including debt consolidation, credit counseling and bankruptcy. The ri...

You’ll typically need a home appraisal to refinance your mortgage, both to confirm your home’s value and to set your new loan amount. If your refinance appraisal comes back lower than expected, though, you may not be able to refinance unless you use a streamline refinance program that doesn’t require an appraisal.
Here’s everything you need to know about getting your home appraised for a refinance loan.
Many refinance loans require a home appraisal to verify market value, although some govern...

Small business taxes can be complicated, as there isn’t a single tax form or even a single tax rate that applies to all businesses. How you file your taxes and the small business tax rates you’ll pay on profits will depend on your business entity structure.

Businesses organized as corporations pay the corporate federal tax rate, which is 21%.

Other business structures, including sole proprietorships, partnerships and S corporations, are considered pass-through entities, and their owners pay t...

Owing money to the IRS is stressful enough without worrying it might tank your credit score. After all, unpaid debts typically show up on your credit report and drag down your score. But tax debt doesn’t necessarily follow the same rules.
Understanding how the IRS handles unpaid taxes and when tax debt might affect your credit helps you make repayment decisions and avoid bigger problems down the road.
The IRS doesn’t report tax debt to credit bureaus, so paying your taxes on time doesn’t dire...

Written by Janet Berry-Johnson | Edited by Anna-Louise Jackson | Updated on 08/04/2025
If you’re looking for a smarter way to give to charity and cut your tax bill, a qualified charitable distribution (QCD) may work for you. A QCD lets you transfer money directly from your individual retirement account (IRA) to a qualifying charity. But you must be age 70 1/2 or older and have an eligible IRA.
QCDs can also count toward satisfying annual required minimum distributions (RMDs) without increasin...