Statistics reveal that in 2017 more than 700,000 individuals filed for bankruptcy. Unfortunately, bankruptcy can remain on your credit report for up to 10 years, depending on the type of bankruptcy you file. A recent study by LendingTree found that many people actually bounce back from bankruptcy long before 10 years have elapsed. Instead, the… [Continue Reading]
What Does it Mean When Your Debt is Sent to Collections?
If a debt goes unpaid for a long period of time, it can be sent to collections. This usually means that the debt owed is written off by the original creditor and sold to a collection agency. At the time the original creditor sells the debt, the debtor’s credit is negatively affected because the unpaid… [Continue Reading]
