If your credit card or personal loan debt has spiraled out of control, which is the case for a lot of borrowers in today's economic climate, hearing that a creditor "wrote off" your balance might ...

Getting out of debt isn’t easy — especially after a job loss. Credit card balances can balloon fast once income dries up, and even small expenses start piling on interest. Sometimes, credit card ...

The Bombay High Court held that bad debt deduction cannot be denied where the debt was effectively written off through accounting entries despite the debtor's account remaining open due to pending ...

Twenty years ago, our son declared bankruptcy. As the years passed, he improved his credit rating. Recently, he lost his job and maxed out his credit cards. He now lives with us and doesn't own a ...

If you’ve been around closely held businesses long enough, you know that a transfer of money between a business and its owner, or between two related businesses, is sometimes characterized by the ...

Financial authorities are putting a brake on the financial sector’s longstanding practice of continuing debt collection for ...