What is the Medical Debt Relief Act?
Updated Jan 17, 2023By Melissa Cook
It's no secret that healthcare costs in the U.S. have become staggeringly high over the last decade, making it difficult for the average person to afford and pay off medical debt...
Read MoreWhat is a Debt Collector?
Updated Jan 17, 2023By Melissa Cook
A debt collector is an entity that tracks down and collects payments on overdue debts. A debt collector may be an attorney, a credit collection agency, or even the original...
Read MoreThe Truth in Lending Act
Updated Jan 17, 2023By Melissa Cook
The Truth in Lending Act (also known as the TILA) is designed to promote the informed use of consumer credit. It requires lenders to provide customers with clear...
Read MoreSecured Loan
Updated Jan 05, 2023By Melissa Cook
A secured loan is a type of loan that is backed by collateral, which is an asset that the borrower pledges as security for the loan. This collateral serves as a guarantee for the...
Read MoreAnnual Percentage Rate
Updated Jan 05, 2023By Melissa Cook
An annual percentage rate (APR) is a measure of the cost of borrowing money, expressed as a yearly interest rate. It is typically used to compare different loan or credit products...
Read MoreWhat is a Lien?
Updated Dec 12, 2022By Melissa Cook
A lien is a legal claim that gives a lender or creditor the right to take and sell your property. Read more about liens.
Read MoreWhat is Delinquent Debt?
Updated Dec 05, 2022By Melissa Cook
Delinquent debt is a term used to describe debt that has not been paid on time, or even at all.
Read MoreWhat is Forbearance?
Updated Dec 05, 2022By Melissa Cook
Forbearance is when a creditworthy borrower faces temporary hardship and is unable to meet their obligations, the lender may decide to refrain from collecting on the debt. Forbearance allows the borrower additional time to...
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