Archive for the ‘Debt’ Category

For old accounts that you haven’t paid in a long time, you may notice on your credit report that they are listed as “charged-off” accounts. A charge-off is a statement provided by a creditor (often a credit card account) when it seems unlikely that the amount will be paid. A charge-off will usually appear when […]

If you feel like you are drowning debt, you are not alone. Millions of people nationwide are thousands of dollars in debt. With some simple tips, however, you may be able to reduce—or completely eliminate all of your debt. Eliminate high interest debt first This is a credit card debt elimination tactic that helps you […]

When you’ve fallen significantly behind on credit card payments and all collection attempts by the lender or a collection agency have been unsuccessful, they might take out a judgment against you. If you lose the case in court or don’t show up, the judgment will rule in their favor. So what does it mean for […]

In 2013, consumers in the following 10 states had, on average, the lowest amount of credit card debt in the nation. The figures show how much credit card debt the average consumer in that particular state was in at the end of 2013. 1. Iowa Average amount of credit card debt per cardholder: $2,978 2. […]

  Filing for bankruptcy is a major decision, and it is important to be well-informed before making such a choice. There are many different bankruptcy myths that are commonly misconstrued as facts, and this article debunks some of those common myths. Myth #1: All debts are discharged through a bankruptcy filing. Truth: While a lot […]

Have you constantly been receiving phone calls from individuals attempting to collect on unpaid debt? When it comes to debt collectors contacting consumers, there are certain laws set in place, and you should know the rights that you have. The next time a debt collector contacts you, take note of the time. If they ever […]

When it comes to debt, there are two main types: unsecured and secured. Understanding the differences between the two types is crucial, so that you can execute an efficient plan for paying it off. Secured Debts When something of value is used as collateral for a loan, it is known as a secured debt. When […]