The amount of credit card debt a person has may hurt them from receiving credit when they apply for loans. It is called debt to income ratio.
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Debt is an amount of money that has been borrowed and is supposed to be repaid (metaphorically, the term is also sometimes used to refer to other obligations; you saved my life, therefore I owe you a debt of gratitude). A debtor is a person who owes a debt. The person to whom the debtor owes a debt is a lender.
AnswerDebt settlement helps you in reducing your debt amount significantly, the debt settlement company negotiates with your creditors to reduce your debt amount. It is a better option than filing bankruptcy. I took help of Freedom Debt Relief and their debt reduction program helped me in reducing my debt amount.
There is a vast amount of information available to those who wish to learn how to consolidate ones debt. Some sites that offer great tips are the "Bills" website and the "Debt Consolidation Care" website.
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Factors that determin a person's creditworthiness arePayment history, amount of outstanding debt, amount of time that the debt has been open, and the amount of new credit.
Debt is an amount of money that has been borrowed and is supposed to be repaid (metaphorically, the term is also sometimes used to refer to other obligations; you saved my life, therefore I owe you a debt of gratitude). A debtor is a person who owes a debt. The person to whom the debtor owes a debt is a lender.
A bank or a loan company can "charge off" a small amount of debt to get the amount off their books. However, this will affect a person's credit report. And it does not mean the person does not have to pay the debt. A debtor should still work to pay off the charge off, to clear the debt and save their credit rating.
A debt collector can tell you and is required by the FTC to provide you in writing the name of the person or company you owe the money to, the amount of the debt, and what you can do if you think you do not owe the debt. If you need to know more information about debt's you owe,contact the FTC.
Yes, a person who defaults on a contract or agreement and owes money to a business or an individual can be sued in civil court regardless of the amount of the debt.
We would need more details to answer this. But i sugest you start by ringing them.
An offer in compromise represents the most a person could be expected to pay of what taxes they owe. It allows a person to settle their tax debt with the IRS for less than the full amount they owe.
AnswerDebt settlement helps you in reducing your debt amount significantly, the debt settlement company negotiates with your creditors to reduce your debt amount. It is a better option than filing bankruptcy. I took help of Freedom Debt Relief and their debt reduction program helped me in reducing my debt amount.
$350,000,000 in national debt
There is a vast amount of information available to those who wish to learn how to consolidate ones debt. Some sites that offer great tips are the "Bills" website and the "Debt Consolidation Care" website.
The average cost of living in the US is $20,194 per person a year. The average amount of debt for a person in the US is $8500.