Debt

The Congress of the United States of America had issued approximately $400 million in paper currency to the military by the year 1780. In the end, Congress enacted economic changes in an attempt to rein in inflation. These attempts were a failure and only served to further weaken the US dollar. Debate persists concerning the […]

Only a DRO specialist consultant, also known as a ‘authorized intermediary,’ can submit an application for a DRO on your behalf. DRO paperwork are often filled out by a qualified debt counselor who has been given authority to do so. They’ll make sure that you’re eligible to apply and that a DRO is the best

Budget deficits are formed when a government’s expenditures on goods, services, or transfer payments exceed its tax revenues. Whenever a government borrows money to cover a budget shortfall, it adds to the country’s national debt. How do government budget deficits impact the national debt? When a government spends more money than it receives in taxes

Sometimes, creditors will write off portion of your debt in exchange for you paying the rest off in a flat sum or over a period of time. Full and final settlements are recorded on your credit report as a partial payment, and this will appear on your credit report. How do you qualify for debt

If you’re like the majority of Canadians, your estate will be burdened by debt. There is a good chance that you’ll be left with credit card debt after your death. No matter how diligent you are about paying down your credit card debt, there may still be an amount due if you have charged products

If you have a debt relief order (DRO) or have had one in the past, your credit rating will be affected. This could make it more difficult for you in the future to receive credit. To understand how a DRO may effect your credit rating, please read this page. How long does a debt relief

As a result, you may be wondering which of your debts are exempt from bankruptcy and hence do not require repayment. A bankruptcy discharges almost all of a person’s so-called “unsecured” debts, which is the most straightforward explanation. In this category, you’ll find any kind of credit card or line of credit, as well as

Yes! If you’ve worked out a payment plan with the CRA, and if you’ve filed your taxes on time, the CRA is unlikely to report you to the credit bureaus if you owe a little amount. However, owing a big sum of money to the CRA might have a negative impact on your credit rating

If you declare for bankruptcy at least seven years after you stopped being a full or part-time student, you are discharged from your duty to repay your student loans. Note: Federal or provincial student loan regulation affects how you determine when you stopped being a full- or part-time student.) As long as you’ve been out

Taking out a loan from a thrift savings plan doesn’t require a credit check because you’re borrowing your own money. Because of this, you won’t have to worry about damaging your credit score when you apply for other loans. Because your payment history isn’t recorded to any of the three major credit agencies, repaying your