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 ...

Determining whether a debt has become worthless always is a question of fact which requires consideration of all pertinent evidence—including the debtor’s financial condition and the value of any ...

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 ...

Figuring out when to take out a loan, pay cash, use leverage, or pass when something isn't affordable. Unpacking good vs bad debt. Myth: you should always pay cash if you can. Fact: investors should ...

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, ...