A home equity line of credit, or HELOC, has long been a popular way to tap the equity in your home and get your hands on a quick infusion of cash. In the past, one big plus of using a HELOC—rather than an unsecured loan or credit card—was that you could deduct the interest you paid on up to $100,000 of the balance. But under the new Tax Cuts and Jobs Act of 2017, the rules have changed. And if you're not clear on how the new law affects you, you could make some mistakes with your HELOC that...

Dear To Her Credit, I have two credit cards. I use both monthly and pay the balances in full when due. I am thinking about retiring and when I do, my income will be reduced. Can a card issuer close a credit card account if the account holder's income drops, even if the account has been in good standing since inception? – Millie Dear Millie, Your credit card company is not going to close your account when you retire. They won’t even know that you aren’t going to work every day, or that you no...

Dear To Her Credit, My father-in-law had two credit cards. Because he didn’t have a checking account, I let him link his credit card accounts to my checking account to pay the minimum payments. One credit card has a balance of $14,380 and one has a balance of $5,600. Neither card is near the credit limit. While my father-in-law was traveling out of U.S., he got sick and passed away. He was a U.S. green card holder, not a U.S. citizen, and he didn’t have any estate in the U.S. He didn’t have...

Dear To Her Credit, I was a caregiver for my aunt and she told me to quit my $4,000-a-month job and she would take care of my bills. That worked as planned until she decided to stop, as well as report her debit card which I had permission to use (she gave me the PIN) to the bank, and tell me to get out of her house (this is 7 months into it). Now my son and I are out on the street, and I used her American Express card to pay for hotel rooms. I’m scared she’s going to get me put into jail. I...

Dear To Her Credit, I need help making some financial decisions for my 79-year-old mom who is currently in intensive care. She has been in the hospital for three weeks following heart surgery. Before she was hospitalized, she already had more bills than she could pay with her Social Security benefits and part-time wages. She’s been using her credit cards to stretch her budget for living expenses, and she now owes about $70,000 on them. We’ve been told that she will be in the hospital for at...