article thumbnail

What is Commercial Debt?

Debt RR

Nearly all businesses will accrue some outstanding debt from their inception, and it is inevitable for some of those debt payments to be past due. Due to this, the original creditors will reach out to you to obtain their due payments. Usually, you will have 90 to 120 days to pay.

article thumbnail

What Is a Debt Collector and Why Are They Contacting Me?

Taurus Collect

A debt collector might sound like a character from a Charles Dickens novel, but if you’ve been contacted by one, you know they’re very much a reality of modern financial life. So, what exactly is a debt collector? What Is a Debt Collector?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Many Times Can a Debt Collector Call Me in One Day

Taurus Collect

As a debtor, you have the following rights: Right to Privacy: Debt collectors are not allowed to share information about your debts with anyone else except your attorney or the original creditor. Right to Dispute the Debt: If you believe the debt is not yours, or the amount is incorrect, you can dispute it.

article thumbnail

Charged Off as Bad Debt: An Explainer

Credit Corp

Just like late payments, a charged-off debt stays on your credit report for seven years. The seven-year clock starts on the date of the last scheduled payment you didn’t make and doesn’t restart if the debt is sold to a collection agency or debt buyer. But if you can’t pay your debts, what choice do you have?