Debt

A court-ordered debt is money you owe as a result of a previous interaction with the criminal justice system, whether you were convicted, acquitted, had your charges withdrawn, or were merely ever detained. This money could be owed to the court, the county or another government agency, a victim of your crime, or even a […]

Credit card debt, in general, refers to the outstanding balances that many borrowers carry from month to month. Borrowers who want to make purchases with deferred payments can benefit from credit card debt. The interest rates on this sort of debt are among the highest in the industry. Borrowers with credit cards, on the other

Technical debt (sometimes known as design debt or code debt, but it can also refer to other technical undertakings) is a notion in software development that represents the cost of further rework incurred as a result of choosing an easy (limited) solution now over a better (longer) approach. If technical debt is not paid off,

This appears as an obligation on the balance sheet that must be paid off within a year. As a result, current debt is considered a current liability. This should not be confused with the present portion of long-term debt, which is the portion of long-term debt that is due in the next year. How do

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

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

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

A debt amortization proceeding under Section 128.21 is a court-supervised, trustee-administered debt repayment plan that pays 100 percent of scheduled debts over a period of no more than three years and is available to wage earners who are unable to meet their current obligations but can afford the payments under such a plan. What is

Mr. A (debtor) and Mr. B (creditor) sign a credit agreement, but Mr. A fails to make his payments according to the terms of the agreement, and he receives a letter demanding immediate payment of the whole amount owed. Mr A is unable to make the full payment and contacts the creditor in the hopes

A foreclosing party (the “bank”) must file a case in court to foreclose in states that use a judicial foreclosure process. As part of that process, the bank—or the bank’s servicer on behalf of the bank—files a “affidavit of indebtedness,” which tells the court how much the homeowner owes the bank. You may have a