If you default on a credit card debt, the late pays and charge off from the default will stay on your credit report for 7 years. What about the debt? Once it comes off your credit report, do you still owe it? Credit Reporting Confusion A common misconception exists that credit card debt you owe [...]
Entries Tagged as 'Consumer Debt'
Is Unpaid Credit Card Debt Still Valid After Seven Years?
April 22nd, 2011 · No Comments · Consumer Debt, Credit Reports
Tags: collection agencies·Credit card debt·credit report·credit reporting confusion·debt·debt expiration·Payment History·statutue of limitations·zombie debt
4 Steps to Dealing with Debts
April 8th, 2011 · 1 Comment · Consumer Debt
Debt can have a destructive effect on lives, health, relationships and families. Quick-fixes, like taking out high-interest loans to clear mounting debts, almost always make the situation worse in the long run. A common reaction to debt is for people to bury their heads in the sand, throwing unopened payment demands straight into the bin. [...]
Tags: bills·collection agency·Credit card debt·creditors·debt·financial statements·owing money·payments·prioritizing debts
Have You Gotten an STD (Sexually Transmitted Debt) From Your Partner?
March 11th, 2011 · No Comments · Consumer Debt
Heard the new term, “Sexually Transmitted Debt”? Apparently it made the Consumer Phrase of the Day in Time Magazine. This term means any kind of debt you incur unknowingly from your significant other, spouse or partner. So how and when might you pick up a sexually transmitted debt? I can’t even count the number of [...]
Tags: Credit card debt·Credit Cards·divorce·Good Credit is Sexy·identify theft·Joint Debt·partner·Sexually Transmitted Debt·significant other·spouse·STD·Time Magazine
Why (and How) You Should Talk to Your Elderly Parents About Credit Card Debt
March 10th, 2011 · No Comments · Consumer Debt
No one receives more credit cards these days than older Americans. In fact, The New York Times reports the average credit card debt of someone over 65 is $10,235!
Tags: credit·Credit card debt·Credit Cards·creditors·elderly
