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 ...

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 ...

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 ...

Medical debt has become one of the most disruptive financial issues Americans face today. Even with health insurance, high deductibles and surprise billing can leave households owing thousands of ...