Debt

A debt buyer is a business that buys debt from creditors at a lower price than the original face value. Delinquent or charged-off debt can be purchased by private debt collectors or collection agencies for a fraction of its face value by debt buyers. They then either collect the debt themselves or hire a collection […]

The legal obligation to pay back a definite or predetermined sum at a later date constitutes a debt. Either you or the property that you own may be held personally responsible for a debt. As long as your debt is forgiven or discharged for a lesser sum than what you owe, that sum is termed

When a business raises capital by selling debt instruments to investors, this is referred to as debt financing. The antithesis of equity financing is debt financing, which involves issuing stock as a means of raising capital. When a company sells fixed-income securities like bonds, bills, or notes, it engages in debt financing. In contrast to

How much you owe compared to how much you earn is known as the debt-to-income ratio (DTI). To assess your ability to repay the loan, lenders look at your ability to make monthly payments of at least this amount. What is a good debt-to-income ratio? A DTI ratio has two parts: a front-end ratio and

To calculate a DTI ratio, mortgage lenders employ a front-to-back ratio and a back-to-front ratio. You may see for yourself in the following examples: When calculating your monthly housing costs, such as your mortgage payment, property taxes, homeowners insurance, and HOA dues, the front-end ratio (also known as the housing ratio) is used. The back-end

According to the South Gauteng High Court decision in Rougier v. Nedbank, 27333/2010, any act by a debt counsellor to terminate or withdraw debt review is a violation of a debt counsellor’s statutory powers. The NCR issued its Withdrawal from Debt Review Guidelines on February 25, 2016, as a result of this judgment. When a

The amount of money borrowed by one party (the borrower) from another is referred to as a “debt” (lender). Loans and mortgages are other terms for debt. It is utilized by a wide range of people and businesses to make major purchases that they would otherwise be unable to pay. Allowing someone to borrow money

You become a creditor if you win a Small Claims Court case as a plaintiff. As a result, the person you sued now owes you money. If you prevail in court, the judge will issue an order requiring the debtor to make good on his or her obligations to you. However, the court does not

A debt dispute letter to the collection agency requesting for the debt to be validated is your best option if you have any doubts about whether or not you owe a bill. Collection agencies must verify they have your money and give evidence to back up their claims by sending you a letter disputing the

Consider using registered mail, fax, or email to notify them, as these methods provide proof of notification. Include any evidence that you believe would support your claim in a legal dispute. ‘ In addition, it is important to ensure that the documents are not originals. You may not be able to retrieve the documents. Can