Unsubordinated debt, also known as a senior security or senior debt, refers to a type of obligation that must be repaid before any other form of debt. So, holders of unsubordinated debt have the first claim over a company's assets or earnings if the debtor goes bankrupt or insolvent.What...
If a creditor reports a debtor’s payment history to the reporting agencies, this information could show up on the debtor’scredit reportsand affect their credit scores. And highercredit scorescould mean a better chance of being approved for loans, plus betterratesand terms on those loans. Here...
How Debt Affects Your Mental Health and Ways to Cope: Paying off debt can be a long-term endeavor if you have steep high-interest balances. But it’s important to keep things in perspective and take care of your health. What Is Auto Loan Refinancing?: Understand how refinancing your auto...
Answer to: What do sundry creditors and sundry debtors mean? By signing up, you'll get thousands of step-by-step solutions to your homework...
What is meant by equity of a tax system? Which business organization has the disadvantage of the owner being responsible for all debts? What does it mean to say that the United States is a net debtor country? How long has this been the case?
7. You get to decide how your payment is applied When it rains, it pours—right? In the realm of debt collection, that may mean that you have more than one debt. Loan consolidation: You can, but should you? If you have debt payments coming at you from multiple directions—at high in...
Explain why the income statement can also be called a "profit-and-loss statement." What exactly does the word balance mean in the title of the balance sheet? Why do we balance the two halves? What is the creditor's obligation related to a filed financing statement once the debt is paid...
A person's credit rating or creditworthiness, as represented by their history of borrowing and repayment (or non payment). What do you mean my credit is no good? Credit (accounting) An addition to certain accounts; the side of an account on which payments received are entered. Credit (tax...
Creditors do have some recourse to collect when a debtor fails to pay a debt. They can attempt to repossess the collateral if the debt is backed by it, such as mortgages and car loans that are backed by houses and cars. The creditor can also take the debtor to court in an attempt to...
If you can't make your loan payment, that doesn't necessarily mean you have to default. There's a handful of options and alternatives you might be able to secure: Loan Modification:A loan modification involves working with your lender to change the terms of your existing loan. This could ...