The Tribunal held that a bad debt claim involving factual and legal analysis cannot be disallowed during section 143(1) processing. Such issues must be examined through regular assessment proceedings, ...

A charge-off is when a lender writes off your account as a loss and closes the account for further use. You are still legally responsible for the balance that is charged off. The lender may transfer ...

If your credit card or personal loan debt has spiraled out of control, which is the case for a lot of borrowers in today's economic climate, hearing that a creditor "wrote off" your balance might ...

FOR many businesses, unpaid receivables are an unavoidable part of operations. Whether arising from unpaid invoices, defaulted loans, or broken payment promises, bad debts can significantly affect a ...

When a credit card company agrees to accept less than the full amount you owe — say, $20,000 on a $30,000 balance — it’s called a debt settlement. The lender agrees to forgive the remaining $10,000, ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. While some forms of borrowing can help you move forward financially, ...

Debt is often discussed in negative terms, but debt isn’t just good or bad. It falls on a spectrum, and how you manage it plays a big role in how it impacts your finances. Bad debt is usually ...