What is the current size of the US national debt? As of February 2020, the US debt totaled $23.3 trillion. What is America’s debt right now? The total national debt due by the federal government of the United States to Treasury security holders is known as the US national debt. The national debt is the […]

The tax system in the United States is complicated, and it has an impact on many elements of corporate owners’ and individual customers’ money. Taxes, while complex and at times intrusive, are an essential component of a well-functioning government and economy. It’s critical to understand when and where taxes will come into play while making

Consumer debt refers to personal indebtedness incurred as a result of the purchase of items for personal or household consumption. Consumer debt includes credit card debt, school loans, auto loans, mortgages, and payday loans. These are in contrast to other debts such as those utilized for corporate investments or debt incurred as a result of

Nondischargeable debt is debt that cannot be discharged through a bankruptcy filing. Student loans, most federal, state, and local taxes, money borrowed on a credit card to pay those taxes, and child support and alimony are examples of such debts. What happens to nondischargeable debt? Non-dischargeable debts are those that cannot be discharged in bankruptcy

A judgment debt is owed by a person against whom a monetary judgment has been entered. This individual will be a judgment creditor. The judgment creditor is the person to whom the judgment debtor owes money. The judgment debt can be collected by the judgment creditor. The judgment creditor can enforce the judgment if the

Depending on your unique scenario and the lender you’re speaking with, a “good” debt ratio can vary. However, in general, a ratio of 40% or less is considered good, while a ratio of 60% or more is deemed unsatisfactory. As your debt ratio approaches 60%, you may find it difficult to satisfy obligations. What does

We hinted at the definition of the debt spiral in the introduction, but let’s go over it again. Alternatively, have one of our esteemed contributors lay it out for you. “A debt cycle occurs when a person, corporation, or even a country accumulates significant debt over time,” noted Monica Eaton-Cardone, owner and COO of Chargebacks911.

Municipalities can raise funds in two ways: through bonds and taxes. A bond is a public debt that must be repaid with interest at some point in the future. A levy, on the other hand, is a tax imposed on local property owners by towns and counties to raise funds for services. Why did I

To account for outstanding loans, debt service funds are not used. Loans outstanding are only disclosed in one of three fund types: general, special revenue, or proprietary. Debt service dollars are not always necessary if bonds were issued for the lending program. Both the bond liability on the balance sheet and the debt service payments

A ClearOne Certified Debt Specialist can negotiate with your creditors to gain you repayment concessions, which often result in you paying less than the amount you owe, allowing you to get out of debt faster. You are not walking away from your debts by using debt resolution. Rather, you’re working out a deal with your