Recent content by StormRippedSuit

Thanks for sharing your inspiration. I’m also passionate and motivated to help others with my financial knowledge. I’ll do my best to comment regularly.

When the vehicle is registered under the company's name, it's considered a company asset and won't impact your personal borrowing power, since it isn't a personal expense. You'll still need to show that your personal income from the business is sufficient. Lenders will want to review your...

Cash out refinance, split loan for better accountancy

I had a debt of $22,000, but I wasn't behind on any payments. I took out a catch up loan from my credit union to cover a vacation and some regular bills. I realized that using a credit card loan only made things worse. I focused on paying off my debts, starting with the smallest and working my...

Hello, we’re feeling a bit overwhelmed with our debt situation and are unsure how to make progress. We purchased our home almost two years ago but are considering selling it and renting instead, as our mortgage is quite high—rent would likely be around $2,000. We’re also looking into moving our...