Tag Archives: Debt

Should You Close Your Credit Card?

Posted on August 21, 2013 by alliedca

With ever-rising prices and credit card interest rates, more consumers are trying to limit their debt by closing credit cards. Besides the need to limit debt, there are many other reasons for closing a credit card account, including high interest … Continue reading →

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In Over Your Head? The 5 Dumb Moves That Can Make a Debt Problem Worse

Posted on August 20, 2013 by alliedca

If you’re struggling with too much debt, you’re not alone. It seems as if the whole nation has a borrowing hangover. For years, credit was easy and many people became overextended. But, we now live in an era of austerity … Continue reading →

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Definition of ‘Debtor’

Posted on August 18, 2013 by alliedca

A company or individual who owes money. If the debt is in the form of a loan from a financial institution, the debtor is referred to as a borrower. If the debt is in the form of securities, such as … Continue reading →

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How long until an item shows up on my credit report?

Posted on August 16, 2013 by alliedca

Answer: It depends. It’s not the best answer, but it’s the most honest one. Whether something shows up on your credit report and when depends on when the creditor or lender reports it to the credit bureau. Some businesses don’t … Continue reading →

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What Is A Charge-Off

Posted on August 15, 2013 by alliedca

Question: What Is A Charge-Off Answer: Many people mistakenly think when a debt has been charged-off that it’s been cancelled by the creditor. This is not true. You are still responsible for paying off the debt. However, you will not … Continue reading →

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How long will a debt collection remain on my credit report?

Posted on August 14, 2013 by alliedca

Question: How long will a debt collection remain on my credit report? If the collection account is accurately reported, it will remain on your credit report for seven years. After that time, it’s against the law for credit bureaus to … Continue reading →

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Remove Debt Collections From Your Credit Report

Posted on August 13, 2013 by alliedca

Having a collection on your credit report hurts your credit score. Even though a collection will affect your credit less as it gets older, the entry will remain on your credit report for seven years for future creditors and lenders … Continue reading →

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Background on Collection Accounts

Posted on August 13, 2013 by alliedca

According to the Federal Trade Commission, debt collectors are one of the most complained about businesses and with good reason. Few people have positive experiences dealing with debt collectors. Even the rare nice ones can be a nuisance. But it’s … Continue reading →

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What’s the Statute of Limitations On Debt

Posted on August 12, 2013 by alliedca

Have you ever had a debt get tossed from one collector to another over what seems like ages? At some point, the cycle has to stop, right? Right. Debts have sort of an expiration date known as the statute of … Continue reading →

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