Tag Archives: credit rating

When buying a used car, you may come across some with salvaged titles. And while we normally recommend avoiding these branded vehicles, there’s no doubt that their low prices can make them appealing to many budget-conscious buyers. But what if those buyers can’t afford it? Can you finance a car …

Russia’s ties to the global economy are rapidly dissipating as crushing sanctions and the Kremlin’s response upend decades of post-Soviet reforms. The Kremlin announced tough limits on banking and exports intended to support its currency’s fall in value this week at the expense of foreigners. Moscow has also pledged to …

Bad credit will not prevent you from qualifying for most federal student loans. But if you’re looking for a private student loan or a Federal Direct PLUS loan, your credit reports will be assessed for late payments and bankruptcies, also known as adverse credit history. An unfavorable credit history could …

Putin’s war Daniel Leal, AFP via Getty Images In just one week, Russian President Vladimir Putin has caused hundreds of deaths and wreaked havoc on the lives of millions. He also started the destruction of the Ukrainian and Russian economies. Turning Russia into a global economic pariah is a dubious …

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. The swimming …

A high car payment can be a drain on your budget. Fortunately, there are simple steps you can take to reduce it. And if you haven’t taken out a loan yet, you can start with a low monthly payment by shopping around and finding the right lender. 4 Ways to …

Building your credit history can be as simple as checking your credit report for errors and improving your on-time payment history. (iStock) Having good credit can help you get favorable terms on a number of products, from mortgages to credit cards. On the other hand, having a bad credit rating …

Have you ever wondered why you always get rejected when applying for a credit card or a loan? Building credit for the first time is like the chicken and the egg. To build a credit score, you need to take out a loan or get a credit card, but you …

JHVEditorial photo/iStock via Getty Images Investment thesis Royal Bank of Canada (NYSE:RY) is the largest bank in Canada by market capitalization and has been a solid investment for over 100 years. They have grown alongside the North American economy and have paid strong dividends to shareholders along the way. Thanks …

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. Refinance rates have gone up today, but if you’re looking to save on monthly payments or refinance a shorter loan, you still have the option of a …

CNN Underscored reviews financial products such as credit cards and bank accounts based on their overall value. We may receive a commission through the LendingTree Affiliate Network if you apply and are approved for a card, but our reporting is always independent and objective. If you have a low credit …

I grew up in a single parent family, in a neighborhood where money was always tight. I was surrounded by working-class people who were trying their best to make ends meet in jobs that didn’t satisfy them. These were difficult circumstances, but they motivated me to get a good education …

There are many ways people share their financial lives, and it’s common to have a mortgage or car loan with a family member, partner, or spouse. You can also share a credit card account. While there’s no right or wrong answer to whether a joint credit card account is a …

Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We may receive a commission when you click on links to our affiliate partners’ products. A credit score of 850 is a coveted achievement for many because it signifies a …

Personal Finance Insider writes about products, strategies, and advice to help you make smart decisions with your money. We may receive a small commission from our partners, such as American Express, but our reports and recommendations are always independent and objective. Terms apply to offers listed on this page. Read …

Nitya has just started her career as a young social media executive. She opened her salary account and studies her financial history for the past few months. Her co-workers have credit cards and she is also considering getting one. She thinks it would help her plan for some of her …

Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We may receive a commission when you click on links to our affiliate partners’ products. For many, having a good credit rating is key to achieving many financial milestones in …

Tony Hetherington is the Financial Mail on Sunday’s investigator, battling readers’ corners, exposing the truth behind closed doors and winning victories for those who have been left behind. Find out how to contact him below. Mrs. CW writes: Please help me – you are my last hope before I possibly …

Editorial independence We want to help you make more informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and allow us to earn a referral commission. For more information, see How we make money. Your credit score is like a financial …

Jim Lane / Getty A few major mortgage rates have gone up today. Average interest rates for 15-year and 30-year fixed mortgages have both tended to increase. We have also seen an inflation in the average rate of adjustable rate 5/1 mortgages. Although mortgage rates fluctuate, they are at an …

BORROWING is always a risky business, but there are more ways to get interest-free credit than you might think. Here are six possible options if you are looking to borrow without paying interest. 1 You don’t need a perfect credit score to borrow interest-free, but there are risks. With the …

4 January 2022 12:10 Noel Davila and Gabriel Rodriguez Posted: 4 January 2022 12:10 Update: January 4, 2022 6:21 PM Use Money’s mortgage calculator to estimate your monthly payments based on the price of the house, current mortgage rates, and the type of loan. You can also use our calculator …

Buying a home is very possible with bad credit, but it’s more difficult and more expensive than buying a home with great credit. Before you begin the home buying process, you need to ask yourself why you want to own a home. Homeownership comes with many unforeseen and significant costs …

Payday Progress In Atlanta Bad Credit? You are prompted to use Less than perfect credit? You may be prompted to use! We have used the services of mortgage service providers who only run loans which is actually comfortable. This means that you will see a much greater possibility of affirmation …

When can I refinance my car? You should refinance a car loan if it saves you money, if you have a good credit rating, or if your rating has improved. Refinancing your car loan with better credit can earn you better interest rates and help you negotiate a shorter loan …

John Greim / Getty Some major mortgage rates have gone up today, including the 15-year and 30-year fixed mortgage rates. We have also seen an increase in the average rate of mortgage loans with adjustable rate 5/1. If you are thinking of buying a home, maybe now is the time …

Don’t rush to refinance mindlessly. There’s a reason so many homeowners have refinanced their mortgages this year. Refinancing rates have been at attractive levels since mid-2020, and if you swap your existing home loan for a new one at a lower interest rate, you could significantly reduce your monthly housing …

Mortgage Concepts is a recurring video series covering best practices and compliance training for mortgage originators in California. This video discusses guidelines for issuing the Notice of Adverse Action / Notice of Action taken under both the Equal Credit Opportunity Act (ECOA) and the Fair Credit Reporting Act (FCRA). To …

H. Armstrong Roberts / Getty A variety of major mortgage rates have come down today. Average interest rates for 15-year fixed and 30-year mortgages have declined. The average rate for the most common type of variable rate mortgage, the 5/1 variable rate mortgage, has also declined. Although mortgage rates are …

Sooner than you think, your credit score will start to count. A good credit score can be the difference between qualifying for or missing out on a low-interest apartment or car loan. So, to get credit ready when you need it, now is the time to start building a good, …

in mexico, mo finances the financing of financial loans developed for dismal credit interest amounts from banking institutions that generate Sign up for a rapid rise in investment bad investment which is individual bad credit repayment financial loans strong loan provider uk short term installment loans no expense mortgage excessively …

Here’s how to know if refinancing is right for you. Homeowners have been refinancing en masse since mid-2020, when mortgage rates started dropping to record highs. Mortgage rates today are higher than they were last summer, but they are still very competitive on a historical basis. From an interest rate …

If you are in dire need of money with a bad credit rating, try a personal or payday loan. These days there are many loan options available and it can be a bit confusing to know which one applies to you. Everyone’s financial situation differs depending on their job and …

If you can’t trust your family, who can you trust? The operator of a credit repair business in North Carolina was sentenced to more than eight years in prison for creating false police reports to clean up bad credit from his customers and enlisting his family to help manage a …

A a lot of work is required to apply for a mortgage – from rounding up your financial records to make sure your credit rating is in great shape. Another important item on your to-do list is to look for misinformation and bad advice. There are many myths surrounding home …

TTaking the time to review and improve your credit rating can improve your financial situation and help you get through an economic setback. Raising your credit score can lead to lower interest rates on everything from a mortgage or personal loan to credit cards and student loans. A lower interest …

item Payday loans can be a debt trap for borrowers who cannot afford to make payments. Here’s how you can pay off your payday loan balance before it goes to debt collectors. (iStock) Payday lenders prey on borrowers with bad credit who are in desperate need of cash, trapping them …

November 22, 2021 7:19 AM Leslie Cook Posted: November 22, 2021 7:19 AM Update: November 22, 2021 9:35 AM The mortgage rate for a 30-year fixed rate loan fell to 3.458% over the weekend. Most other types of loans also experienced lower rates, with the rate on a 30-year refinance …

Buy Now, Pay Later, Funding is becoming a staple for Walmart, Amazon, Target, and many other retailers ahead of the holiday shopping season. Walmart was the king of layaways for years, offering consumers the flexibility to purchase holiday gifts or other big-ticket items on time and at no additional cost. …

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but this does not affect the opinions or ratings of our editors. For anyone in the market to buy or refinance a home, now is a good time to secure a low rate. …

Leslie Cook The average rate on a 30-year fixed-rate mortgage is down to 3.337% today, continuing the downtrend that started last week. Rates are also lower for almost all other loan categories, with the 30-year refinancing rate falling to 3.47%. Qualified buyers who are considering a new home purchase or …

If you have credit cards in your wallet, you can track your balances to control your budget, but knowing each card’s credit limit is another story. However, actively managing how much of your credit limits you use, also known as the credit utilization rate, can have a big impact on …

Editorial independence We want to help you make better informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and earn us a referral commission. For more information, see How we make money. A variety of key mortgage rates have dried up …

With a low credit limit usage rate, your credit score tends to improve, making you eligible for larger loans in the future. Credit cards have become essential financial tools in today’s world. The ease of access to short-term interest-free borrowing through credit cards not only adds convenience to our way …

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but this does not affect the opinions or ratings of our editors. The average interest rate on refinanced student loans increased last week. For many borrowers, rates remain low enough to make refinancing …

“Democrats have been clear from the start we will do the responsible thing,” Schumer said ahead of the vote. “The Republican obstruction of the debt ceiling was reckless, irresponsible, but today Republicans will still have the opportunity to get what they asked for … we can proceed with final passage …

Editorial independence We want to help you make better informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and earn us a referral commission. For more information, see How we make money. Today, several notable refinancing rates have declined. The 15-year …

Our goal is to give you the tools and the confidence you need to improve your finances. While we do receive compensation from our partner lenders, whom we will always identify, all opinions are ours. Credible Operations, Inc. NMLS # 1681276, is referred to herein as “Credible”. Mortgages from the …

We have a joint mortgage with Barclays but i just found out that in the last 11 months the bank wrongly recorded that we paid late. This is completely wrong – our payments arrived on time – but it’s screwed up our credit rating. Although we have repeatedly told the …

Q I’m having a Halloween party at my house for my kids and some of their friends. I need to buy costumes for my 5 and 3 year old son and daughter, as well as board games and home decorations. I do most of my shopping online these days. Given …

By Froma Harrop / syndicated columnist This is not about what would happen if the United States defaults on its debt. This is about what happened in 2011 when a party just threatened to let this happen. A Democrat, Barack Obama, was president, and for some crazy partisan reasons, the …

This is not about what would happen if the United States defaults on its debt. This is about what happened in 2011 when a party just threatened to let this happen. A Democrat, Barack Obama, was president, and for some crazy partisan reasons, the Republican leadership felt it was wise …

Jim Lane / Getty A variety of major mortgage rates have grown today. While 15-year fixed mortgage rates have fallen, interest rates on 30-year fixed mortgages have increased. The average rate for the most common type of variable rate mortgage, the 5/1 variable rate mortgage, has increased. Mortgage interest rates …

Representative Alexandria Ocasio-Cortez will present a bill to extend the benefits of the PUA, which expired in September. The bill would increase the amount of weekly benefits and provide additional weeks of benefits for the self-employed, concert workers and the self-employed cont (iStock) Representative Alexandria Ocasio-Cortez (DN.Y.) announced at a …

MELBOURNE, Australia, September 20, 2021 (GLOBE NEWSWIRE) – According to leading financial broker National Loans, boat loans are very similar to auto loans, with a generally fast application and approval process that relies heavily on the customer’s credit rating and repayment capacity. There are two main categories of boat financing: …

5 key things to note when reviewing your credit report Highlights Credit bureaus (CRAs) collect and hold information for your credit reports It is important to regularly check your credit reports to make sure that your personal and financial information is correct. To keep control of your finances, you can …

There’s a reason homebuyers have a hard time buying homes in today’s real estate market. Home values ​​have been hugely inflated since the start of the year. We can thank the high demand and the low supply for this. But in August, the median selling price of a home fell …

Type of loan To buy Refinance 30 years fixed 3.06% 3.16% FHA 30 years fixed 2.87% 3.00% 30-year VA fixed 2.87% 3.05% Jumbo 30 years fixed 3.16% 3.33% 20 years fixed 2.81% 2.93% 15 years fixed 2.29% 2.40% Jumbo 15 years fixed 2.87% 3.05% 10 years fixed 2.21% 2.35% 10/1 …

Jim Lane / Getty Some major mortgage rates have fallen today. Both 15-year and 30-year fixed mortgage rates have come down. The average rate for the most common type of variable rate mortgage, the 5/1 variable rate mortgage, also declined. Although mortgage rates fluctuate, they are quite low right now. …

Getting a mortgage is a little easier now as lenders are starting to ease borrowing standards that have excluded many pandemic-stricken buyers. But easier doesn’t mean easy, and you’ll still need the best possible credit score to avoid further scrutiny from your lender. A conventional mortgage usually requires a minimum …

U.S. Treasury Secretary Janet Yellen answers questions during the Senate Appropriations Subcommittee hearing to consider the FY22 budget request for the Treasury Department at Capitol Hill in Washington, DC, on June 23, 2021. Greg Nash | Swimming pool | Reuters Treasury Secretary Janet Yellen on Friday warned Congress that her …

Editorial independence We want to help you make better informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and earn us a referral commission. For more information, see How we make money. The 30-year average fixed mortgage rate fell 0.1% to …

With dozens of credit card companies vying for attention in one of the world’s largest consumer markets, choosing a card that’s right for your needs can be daunting. From SBI to HDFC and from Citibank to HSBC, every card issuer has their own list of benefits and ROI offers. Well-informed …

Jeff Greenberg / Getty Images Several major mortgage rates fell today. Average rates for 15-year and 30-year fixed-rate mortgages have declined, while average rates for 5/1 variable-rate mortgages have also declined. Although mortgage rates are constantly fluctuating, they are currently lower than they have been in recent years. If you …

Our goal here at Credible Operations, Inc., NMLS number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are ours. View mortgage …

Personal loan or loan against credit card, which is best for you? | Photo credit: Thinkstock Desperate times call for desperate action, the saying goes, and at a time when the ongoing public health disaster is one such scenario. He has depleted finances, especially those facing crushing hospital bills. Personal …

Bankrate follows a strict editorial policy, so you can be sure that we put your interests first. Our award-winning editors and journalists create honest, accurate content to help you make the right financial decisions. The key principles We appreciate your trust. Our mission is to provide readers with accurate and …

Interested in buying a home in 2021? Learn the eight steps you need to take from start to finish. (iStock) With mortgage rates at an all time high and house prices on the rise, many Americans are interested in buying a home in 2021. However, the process of buying a …

If you buy through our links, we may earn money from affiliate partners. Learn more. Some mortgage and refinance rates have changed since last Wednesday, but the changes are not drastic. Rates generally remain low. Mortgage rates will likely stay low for at least a few more months, so you …

Dear Liz: My mom is very focused on her credit rating, which is still excellent. I found out that she had recently called her bank and asked her to lower her credit limit on one of her long-standing credit cards from $ 32,000 to $ 5,000. She only uses the …

This column does not necessarily reflect the opinion of the Benzinga editorial board. Flash loans Flash Loans has been around decentralized finance for the past year – and has made headlines due to the number of exploits in vulnerable decentralized finance protocols, including the bZx margin trading protocol. What are …

Viva Republica, the The Seoul-based fintech company behind Toss, a super app with more than 40 financial services, today announced it has raised $ 410 million for a post-money valuation of $ 7.4 billion. The new funding was led by Alkeon Capital, a U.S. investment firm, and included participation from …

Bankrate follows a strict editorial policy, so you can be sure that we put your interests first. Our award-winning editors and journalists create honest, accurate content to help you make the right financial decisions. The key principles We appreciate your trust. Our mission is to provide readers with accurate and …

Michael Short / Getty Several major mortgage rates increased slightly today. Average rates for 15-year and 30-year fixed-rate mortgages increased slightly. The average rate of the 5/1 variable rate mortgage – the most common variable rate home loan – has also increased. While mortgage rates are constantly fluctuating, they are …

For months, 15-year fixed rate mortgages had the lowest average rate available, and today is no exception. The following lower rates are for government guaranteed loans (FHA and VA), followed by 30 year fixed rate loans. ARM loan rates are the highest whether you buy or refinance. Mortgage and refinance …

Editorial independence We want to help you make more informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and earn us a referral commission. For more information, see How we make money. Based in Vienna, Virginia, the Navy Federal Credit Union …

You have money matters. Bankrate has answers. Our experts have been helping you stay on top of your money for over four decades. We continually strive to provide consumers with the expert advice and tools they need to be successful throughout their financial journey. Bankrate follows a strict editorial policy, …

If you buy through our links, we may earn money from affiliate partners. Learn more. Some mortgage and refinancing rates have been rising since last Sunday, but the increases are not drastic. Some rates have been down since last month, and rates generally remain low. Mortgage rates will likely stay …

Your credit score can have a big impact on your finances. Simply put, a credit report is a collection of information about you provided by financial institutions from which you have borrowed money over time. There are three major credit bureaus where this information is reported: Equifax, Experian, and TransUnion. …

If you’ve worked hard to achieve and maintain a good credit rating, it can be overwhelming to see it go down. But “life comes, and sometimes the way you react is going to explode and affect your credit score,” says credit expert John Ulzheimer. People lose their jobs, cars break …

FORT LAUDERDALE, Florida, June 4, 2021 / PRNewswire-PRWeb / – National Payday Loan Relief Is One of United States’ the best loan assistance companies that offer payday loan assistance programs to their clients. They have been in the business of payday loan settlement for over twelve years and they have …

Asking for a Bank of America credit line increase can be a smart move, and it’s true whether you need to access more credit or have other goals in mind. Your larger line of credit can help you finance a larger purchase you want to make, and it might even …

Bad loans OK. We only use trusted direct lenders, offering genuine direct loans in most states in the United States. Quick loans that are bad credit WANT AN INSTANT LOAN? Payday Loans Without Third Party Loan Providers Direct lenders We only use trusted direct lenders, offering legitimate direct loans in …

Bankrate follows a strict editorial policy, so you can be sure that we put your interests first. Our award-winning editors and journalists create honest, accurate content to help you make the right financial decisions. The key principles We appreciate your trust. Our mission is to provide readers with accurate and …

If you need a car to get to work or school, opting for a used vehicle is a great way to save money. However, used cars are still an important investment. The average used car costs over $ 20,000 today, you may therefore need to take out a loan to …

Buying a car from a private party can get you a good deal, but it can be difficult to get approved for financing a vehicle if your credit score is low. Here is the scoop on direct auto loans for private vehicles. Private auto loans To get an auto loan …

Mortgage rates are determined by a mix of factors you can’t control and factors you can control. The stronger the US economy, the higher mortgage rates are across the board. Lenders will offer you a lower rate if you have a good credit rating or a high down payment. See …

The latest rate on a 30 year fixed rate mortgage is 3.286%. © Silver; Getty Images Mortgage-Rate-006 The last rate on a 15 year fixed rate mortgage is 2.399%. The latest rate on a 5/1 jumbo arm is 3.566%. The latest rate on a 7/1 compliant ARM is 4.196%. The …

By a show of hands, let me see how many of you have a credit card in your name. Uh-huh, I see these hands. It seems my audience is in line with national averages: about 70% of you have at least one credit card. And how would you rate your …

Bloomberg Race to avert disaster at China’s biggest ‘bad bank’ (Bloomberg) – It was past 9 p.m. on Financial Street in Beijing when the character inside the Huarong Tower took an ink brush and, with trained strokes, began to put characters on paper. entrepreneur, Chinese Communist Party official – and, …

Understand your rights when buying a home with someone else. (iStock) Just because two people are applying for a home loan together does not mean that the two people share ownership of the property. The opposite is also true: a property can have co-owners, where a party is not listed …

While a credit score of 700 will not allow you to fill your wallet with high yielding credit cards named after precious metals and gems, you are well on your way to that goal if you continue to grow. good credit habits. You haven’t hit the credit peak, but you …

While the majority of the big banks’ digital transformation is well underway, customer engagement metrics are firmly focused on the mobile apps they continue to iterate, not on closed branches. In January, HSBC revealed that only 10 percent of customer contact was through its branches. But boosting customer engagement on …

SINGAPORE – China’s largest distressed asset manager on Tuesday paid off one of its international bonds in full and sought to allay investor concerns over its liquidity following a downgrade in credit ratings. The overseas arm of China Huarong Asset Management Co., a sprawling financial institution that helps the country’s …

Editorial independence We want to help you make better informed decisions. Certain links on this page – clearly marked – may take you to a partner website and may lead to us earning a referral commission. For more information, see How we make money. Finance of America is a Horsham, …

There’s a reason we’re all supposed to have a healthy savings account balance: you never know when unforeseen expenses might arise. Or, you could lose your job and need money to cover your bills until you find a new one. In fact, as a general rule, it’s a good idea …

Minimum FHA credit score for a home loan The minimum FHA credit score for a home loan is 500, however, it is possible to get a mortgage without any credit score. Lenders can check “non-traditional” sources of credit and file a credit report if you don’t have enough accounts to …

Select’s editorial team works independently to review financial products and write articles that our readers will find useful. We may receive a commission when you click on product links from our affiliate partners. If you already have a few credit cards and want to open another, you might be wondering …

India’s banking system, which is teeming with excess liquidity, is currently in a catch-22 situation. While it is imperative for banks to extend their support for loans to their customers to help overcome the current crisis triggered by the Covid-19 pandemic, they must also manage the risks associated with it. …

I If you want to borrow money, you will need a good credit rating to access the best deals. Whether you are applying for a credit cardWhether you are looking for a mortgage to buy a home or looking for a loan, you will find the cheapest and most attractive …

In this article: There are several easy rough estimates of how much you can spend on a house. Choose a total payment close to what you are currently spending on rent Select the maximum price of your home at three times your annual income Opt for a total housing payment …

Far too many Americans have a strange ambivalence about their credit scores. According to a 2019 survey of VantageScore, American adults’ knowledge of their credit score problems declined by about 15-20% between 2012 and 2019. This has resulted in a scenario where millions of Americans “have fair or bad credit …

Juana Velosa (not pictured), made sure to pay off her credit cards before going on a work trip. … [+] She received a surprise when she learned that she owed 3 months of late fees and penalties. Getty In April 2019, Juana Velosa was delighted with her next work assignment …

The credit crunch is becoming increasingly evident according to the Mortgage Bankers Association (MBA). Its mortgage loan availability index tear down at a reading of 125.0 in June, a 3.3 percent loss. A drop in the index indicates tighter lending standards. Joel Kan, associate vice president of economic and industrial …

Anyone who borrows money to pay for their education will have to pay interest on their debt. For young graduates entering the workforce, these rates can be distressing. But while you may know how student loan interest rates in general work, you might be wondering how your lender or manager …

WASHINGTON–(COMMERCIAL THREAD) – The tenth annual credit score survey, released today by the Consumer Federation of America (CFA) and VantageScore Solutions, LLC, shows that low-income households are the most likely to apply for credit during Next 12 months. Yet the survey also reveals that these households generally know much less …

A major credit bureau is taking another step to enable people with poor or deteriorating credit histories to improve their chances of getting loans and credit cards. Experian, one of the three major credit bureaus, said this week that in January it will launch Experian Boost, a free and optional …

There are so many people that wonder how credit can be used with 24 hours payout. This is due to the fact that many people that have poor credit have no problem paying their bills on time but when you look at the amount of money they get for it …

Easy finance personal loans can be a great help to individuals in need. The beauty of these loans is that they are very much available to the borrower, and it may not be necessary to reveal your employment or assets to the lender. That being said, an individual has a …