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Default, Charge-Off, Collections, Statute of Limitations, Waiver of Debt (1099-C) There are so many words and terms floating around when it comes to money owed. Take a look below for some everyday explanations about these terms. Default This means that you have failed to keep up with the terms of your contract. This could mean many…

I CAN MAKE THE CAR PAYMENTS OR I CAN MAKE THE REPAIR PAYMENTS, I CAN’T AFFORD BOTH! VOLUNTARY REPOSSESSION Often times the defects, which occur shortly after the purchase, can be very expensive to repair. If the dealership refuses to honor its warranty, the consumer must bear these expensive repair costs in order to keep…