Charge Off.Collectable debt by a reporting firm that will be written off. The debt is only written off if assumed collectable. It's classified as 'bad debt expense' on the statement of income and will be removed from any balance sheet. |
RepossessionsA process in which the lender or their agent takes back any items bought on credit or if pledged as collateral for a loan. The loan is generally from a borrower that has failed to pay their loan payments on time.
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CollectionsA transition of past-due and delinquent accounts from business establishments to a department or collection agency. They have the task to fully or partially recover lent funds.
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Tax LiensA county, state, or federal government can possess your property if you fail to pay your property taxes or income taxes. It can affect your credit scores and may remain there for seven years. |
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Contact Us(678)-984-7737
191 Peachtree Towers, Peachtree street Atlanta, Georgia 30303.
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