People who fall seriously behind on debt may be concerned about charged off debt. For credit card debt, charge-offs take place 180 days after minimum payments stopped being made. At this point, the bank or creditor regards your debt as a loss. Although your bank or creditor no longer considers your debt to be “collectable”…
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When speaking to individuals who are struggling with debt, we often encounter a confusion about the term “charged-off.” This term may appear on a credit report by an old debt you may not even remember you owe. On the surface, this may sound reassuring, that the debt has been “charged off” almost sounds like the…
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Whether you made a large purchase or had an emergency situation, a credit card is the go-to method of payment to help you pay off a debt little by little; however, with surging interest rates and daily expenses, it is not uncommon for consumers to fall behind on making payments. If you find out that…
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If you are so far behind on bills that you are dreading the time when collection calls will start pouring in, or already have your debt in collections, know that you are not alone. Despite a stronger economy, over 35% of Americans continue to struggle with credit card debt that has been reported to a…
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Being indebted is an uncomfortable situation that no one actively seeks, yet too often “life” just happens. If you are going through a financial rough patch, you are not alone. In fact, millions of Americans are in debt right now, with the average credit card debt reaching $15,000! If you have been sued by your…
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. Heather Weis | Benveniste Law Offices Call us 847-849-1163