article thumbnail

What is Commercial Debt?

Debt RR

Failure to pay them off promptly, or even paying the amount due when the time comes, could result in a civil lawsuit for commercial debt collection. 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.

article thumbnail

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

Taurus Collect

Here are a few reasons why their efforts have become directed at you: Unsettled Balances : If you have forgotten to pay or have missed payments on loans, credit cards, or utility bills, these outstanding amounts can result in debt collectors making contact.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Charged Off as Bad Debt: An Explainer

Credit Corp

If you can pay in full right away, you have more leverage to have the charge-off removed you’re your credit report, but you can also ask if they’re willing to make payment arrangements Consider saving up money or taking out a debt consolidation loan. Once you have enough money to negotiate, contact the original creditor.

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.