Debt Relief Articles

The Internal Revenue Service (IRS) is a U.S. government agency that is responsible for the collection of taxes and enforcement of tax laws. The IRS is part of the Department of the Treasury and...

The borrower (i.e. the company) promises to repay the lender (e.g. a bank) with interest over a set period of time. Unlike equity financing, where the lender receives ownership in the...

An unsecured loan is a loan that is not backed by collateral. This means that the lender does not have a claim to any specific assets of the borrower in the event of default...

Fair market value (FMV) is the price at which an asset would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell...

Refinancing is the process of obtaining a new loan to replace an existing one. The most common reasons to refinance include reducing the interest rate, shortening the loan term...

Insolvency refers to the state of being unable to pay debts as they come due. It is a financial term that is often used to describe a company or individual that is facing financial...

A grace period is a specified period of time after the due date of a payment during which a borrower can make the payment without incurring any additional charges or penalties...

A debtor is an individual or entity that owes money to another individual or entity. In the context of financial transactions, a debtor is a person or organization that has borrowed...

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...