We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. These two phases often get lumped together in conversations about debt, ...

Falling behind on credit card payments is a common issue borrowers are facing right now, but when it happens, it can trigger a chain reaction that's hard to stop. At first, it might mean being charged ...

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 ...

With costs continually rising and borrowers' budgets stretched to their limits, millions of Americans have found themselves carrying debt that's gone unpaid for months or even years on end. But when ...

A charge-off is a debt that has gone unpaid for a sufficient amount of time and is deemed uncollectible by the creditor. Charge-offs do not erase your debt, and you are still responsible for paying it ...

When you fall behind on credit card payments, the consequences tend to unfold in stages, each one more serious than the last. First come the late fees and penalty interest rates, which increase the ...