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Tag Archives: Debt Settlement

Ask an Expert: What is a Charged Off Account?

Q. What is a charged off account on my credit report? Dear Reader, Seeing a charged off account on your credit report can be a bit confusing because the term is not self-explanatory. It doesn’t help that “charged off” is used interchangeable with “written off,” which in many scenarios means that the account has been paid off. In this context, charged off refers to an account that has become so …Read More

Debt Consolidation vs. Debt Settlement vs. Debt Management Program

What is Debt Consolidation? Debt consolidation typically involves getting a lower interest loan to pay off multiple high interest secured or unsecured debts, such as credit cards or payday loans. The consolidation loan is generally secured against the borrower’s assets such as a home or a car.  Because credit card debts have such high interest rates, even an unsecured consolidation loan can significantly reduce the borrower’s monthly payment. For some this …Read More

Dealing with Debt Collectors

By Jason Alderman Senior Director, Visa Inc. If you’ve ever fallen far behind on paying your bills, you know what it’s like to dread whenever the phone rings: What if it’s another bill collector? Ignoring the call – like ignoring a toothache – is never a good idea, however. Sooner or later, you’re going to have to deal with the situation. According to Gail Cunningham, spokesperson for the National Foundation …Read More