A charge-off is when a lender writes off your account as a loss and closes the account for further use. You are still legally responsible for the balance that is charged off. The lender may transfer ...

Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income, project management, and analytics. Debt that cannot ...

Borrowing has become a normal part of life for most people, especially as everyday costs continue rising. Whether it's groceries, gas or housing, many Americans are now relying more heavily on credit ...

The Indebted States of America: How much debt is too much? Feb. 3, 2014 -- We are a nation of debtors. Altogether, American consumers are $11.3 trillion in debt. More than $856 billion of this is from ...

The more debt you have – particularly bad debt – the more likely you are to fall victim to the vicious debt cycle. You may need to take out more high-interest debt to repay your existing debts. Plus, ...

Debt is often discussed in negative terms, but debt isn’t just good or bad. It falls on a spectrum, and how you manage it plays a big role in how it impacts your finances. Bad debt is usually ...

When you hear the word, "debt," it's likely an immediate pit begins to form in your stomach. Debt means you owe money and if you don't pay it back, the balance you owe will grow even larger. But if ...

A new rule will prohibit a certain type of bad debt from appearing on credit reports. The rule, announced by the Consumer Financial Protection Bureau, prohibits unpaid medical bills from appearing on ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. While some forms of borrowing can help you move forward financially, ...