Debt Relief Articles

Debt ceiling is a term that refers to the maximum amount of money that can be legally borrowed by the US government.

A Guarantor is the person who promises that a borrower will pay back his or her debts.

Debt consolidation is the process of combining all your debt (credit card, mortgage, student loan) into one monthly payment. A consolidated debt is paid off with a single loan.

A credit report is a detailed record of an individual's credit history, including their past and current loans and payment habits. This information is used by lenders to determine an individual's creditworthiness when applying...

Acceleration, in finance, refers to the speeding up of a financial obligation, such as a loan or mortgage. This can happen voluntarily, as in the case of prepayment, or involuntarily through default. In either...

In finance, liability refers to an obligation or debt that an individual or company is responsible for repaying. This can include items such as loans, credit card debt, and unpaid taxes. Liabilities must be...

Escrow is a financial arrangement where a neutral third party holds and regulates payment of the funds required for two parties involved in a given transaction. It helps to ensure that both parties fulfill...

A FICO (Fair Isaac Corporation) Score is a measure of creditworthiness, calculated using information from the consumer's credit report.

Bankruptcy is a legal process where an individual or business unable to pay their debts can get a fresh start. It allows them to either restructure or eliminate their debt obligations and protect their...