Deferred Payment is a broad term that stands for one of the most common form of sales deals in the world. In simplest terms, deferred payment is a debt that is agreed to be paid in full at some later date. This form of payment is usually used when vendors believe that the payment received and the sale of product outweighs the risks of agreeing to a later payment from a buyer. Continue reading
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What is the Free Application for Federal Student Aid?
The FAFSA, or Free Application for Federal Student Aid, is the easiest and best way to receive financial aid from the US government to help pay for college education. It mainly serves to assist those families who cannot pay the skyrocketing costs of attending many of the nation’s most prestigious universities. There are two steps to filling out the FAFSA before there can be a follow up to the application process. Continue reading
Credit CARD Act–Rate Change Notice
One of the most striking aspects of the Credit Card, Accountability, Responsibility, and Disclosure (CARD) Act is the changes to a bank’s abilities to change interest rates on credit cards. This Act, set to take effect in February 2010, gives lenders less opportunities to change rates vicariously without your knowledge. Continue reading
What is the Earned Income Tax Credit (EITC)?
The federally funded Earned Income Tax Credit (EITC) is a refundable tax credit, aimed at supporting lower and middle class American families. Typically, a household with one qualifying child can receive a maximum credit of approximately $3,043, while any household with two qualifying children can receive a credit of up to $5,028.1 Continue reading
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