Why You May Not Want to Pay a Charged-Off Debt
Quick Summary Seeing a charged-off debt on your credit report can be alarming, but it’s important to understand what it means. A charge-off doesn’t mean your debt has been forgiven; it’s simply an accounting tool for creditors. It’s important to understand the possible downsides of both paying and not paying the debt, and a debt […]
How Long Does Credit Card Debt Settlement Take?
Quick Summary Credit card debt settlement usually takes between two and four years for full debt settlement, but an individual account could take just a few weeks or months. Your exact timeline will depend on how much you owe, how many accounts you have, and how far behind you are in payments and how much […]
Are Merchant Cash Advances Legal?
Quick Summary: Yes, merchant cash advances are legal. However, because MCAs are structured as purchases of future receivables rather than loans, they aren’t subject to state usury laws or the same consumer protections that apply to traditional business funding. This lack of regulation allows for high fees, aggressive collection tactics, and contract terms like confessions […]
