Mark has over 25 years of experience in the financial industry, and has worked with investments, insurance and mortgages as well as income tax preparation and comprehensive financial planning. His writing work includes insurance and securities training manuals and educational articles for several financial websites, such as Investopedia.com and MasonFinance.com. He has also worked as a stockbroker in the full-service, discount and banking arenas as well as serving as a financial counselor for the U.S. military. He currently works as a retirement planner for government employees and also helps high net worth clients to avoid taxation on the sale of highly appreciated assets. Mark has a Bachelor of Science in English from the University of Kansas. In his spare time, Mark enjoys playing with model trains, church activities, watching sports and cooking.
Articles written by Mark P. Cussen, CMFC
What You Need To Know About Credit-Builder Loans
Written by Mark P. Cussen, CMFC.
Updated January 30, 2025
A credit-builder loan is a special loan some financial institutions offer to help borrowers improve or build their credit scores. These loans are always secured loans, which basically means the borrower puts up a security deposit for the loan. Credit-builder loans are a great option for individuals who are looking to rebuild or improve their credit scores. Since the loan is backed up by your money, there is very little risk to the lender. But when you take out the loan and may your monthly payments on time, it helps build your credit score by showing you can make on-time payments — one of the biggest factors that determines your credit score.
Read More →What Is a Buy Here, Pay Here Dealership & How Does It Work?
Written by Mark P. Cussen, CMFC. Legally reviewed by Jonathan Petts
Updated January 30, 2025
If you’re shopping for a car and you have bad credit, you may have trouble getting financing. You can try to get a personal loan from a local bank or a friend or family member. But if that doesn't work, you may have to go to a buy here, pay here (BHPH) dealership. These dealers offer in-house financing to people with bad credit. If you really need a car, they can help you get one. But there are also downsides to financing with them. Read on to learn more about the pros and cons of buy here, pay here dealerships.
Read More →Can I Get a Paid Collection Account Off My Credit Report?
Written by Mark P. Cussen, CMFC. Legally reviewed by Jonathan Petts
Updated January 30, 2025
A paid-off collection account will come off your credit report eventually, but it's not usually possible to get this account taken off your credit report proactively. You can ask your creditor to take the account off your report - either as a condition of your full payment or as a matter of good will - but no creditor is obligated to honor this request. This article will go into detail about how an account that has been sent to collection can affect your credit score, how a "pay for delete" letter works, and what you can do if the collection account on your credit report is there by mistake.
Read More →Are Pay for Delete Letters Effective?
Written by Mark P. Cussen, CMFC. Legally reviewed by Jonathan Petts
Updated January 30, 2025
If you have had a debt sent to collections, it may be possible to get the negative item removed with a pay for delete letter. This type of letter politely asks a collection agency, debt buyer, or other creditor to remove the negative item from your credit report in exchange for paying off the debt in question. There are potential drawbacks and benefits to this approach. Read on to learn more about pay for delete letters and how they can affect your credit history and credit score.
Read More →12 Ways To Build a Strong Credit History
Written by Mark P. Cussen, CMFC. Legally reviewed by Jonathan Petts
Updated January 30, 2025
Your credit score is one of the main components of your financial health. If your FICO credit score is good, then you can get credit more easily and cheaply than you can if you have several blemishes on your credit report. Fortunately, there are several things that you can do to build your credit over time, regardless of what your credit score is now.
Read More →Salvage Title Cars: Everything You Need To Know
Written by Mark P. Cussen, CMFC. Legally reviewed by Jonathan Petts
Updated January 30, 2025
A salvage title car comes with its own set of risks and limitations. But if you know the car’s history and the person who is selling it to you, a salvage title car may be a good deal in some cases. This article will discuss the pros and cons of buying a car with a salvage title, how to identify, finance, and insure a car with a salvage title, and what steps you can take to get a rebuilt title issued for your car.
Read More →Can You Get Unemployment While on Social Security?
Written by Mark P. Cussen, CMFC. Legally reviewed by Jonathan Petts
Updated January 28, 2025
If you are collecting Social Security benefits and have also recently lost your job, you may be wondering if you can collect unemployment benefits on top of your Social Security benefits. The good news is that you can collect both types of benefits at once. These two types of benefits come from completely different sources and receiving one of them does not disqualify you from applying for the other one as well.
Read More →Ohio Vehicle Repossession Laws
Written by Mark P. Cussen, CMFC. Legally reviewed by Jonathan Petts
Updated January 24, 2025
If you take out a loan to buy a vehicle and you become unable to make the payments, then you run the risk of having your vehicle repossessed. Vehicle repossession laws are largely the same in all states, but some details governing borrowers’ and lenders’ rights differ from one state to another. Here we will examine Ohio’s laws and what you need to know if you live in Ohio and can’t make your payment or have already experienced vehicle repossession.
Read More →Debt Settlement: How To Write an Agreement Letter (+ Template)
Written by Mark P. Cussen, CMFC. Legally reviewed by Attorney Paige Hooper
Updated August 1, 2024
If your lender agrees to let you settle a debt for less than what you owe, you'll need a written agreement that includes: - Information about the debt - What you'll be expected to pay - How much will be forgiven - What the repayment terms are If your lender doesn't send an agreement, you can use the template in this article to draft a written agreement to make sure you're both on the same page. It’s important to get any debt settlement agreement in writing!
Read More →Understanding the Power of Sale Clause
Written by Mark P. Cussen, CMFC.
Updated September 27, 2021
If a borrower defaults on their home payments, the mortgage lender must normally go through the state court system and get a court order to do a foreclosure. Once that has been done, the lender can sell the property to recoup the unpaid loan balance. But in some cases, the lender includes a power of sale clause in the deed of trust, which gives them the ability to do a foreclosure sale without going through the court system. Power of sale clauses ultimately protect the mortgage company and lead to a much faster foreclosure process. This article will tell you what you need to know about how a power of sale foreclosure works and how to find out if they apply to you.
Read More →
