When a credit card company agrees to accept less than the full amount you owe — say, $20,000 on a $30,000 balance — it’s ...

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 ...

If your credit card or personal loan debt has spiraled out of control, which is the case for a lot of borrowers in today's economic climate, hearing that a creditor "wrote off" your balance might ...

The Tribunal held that a bad debt claim involving factual and legal analysis cannot be disallowed during section 143(1) processing. Such issues must be examined through regular assessment proceedings, ...

SPONSORED CONTENT is content paid for by a partner. The McClatchy Commerce Content team, which is independent from our newsroom, oversees this content. Money Research Collective’s editorial team ...

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 ...