Tag: debts

DefinitionIn international law, odious debt, also known as illegitimate debt, is a legal theory that says that the national debt incurred by a despotic...

What is a 'Bad Debt Recovery' A bad debt recovery is business debt from a loan, credit line or accounts receivable that...

What is 'Bad Debt Reserve' An account set aside by a company to account for and offset losses that arise as a...

What is bad debt and how does it affect your credit score Most people are familiar with the term "bad debt." Generally, bad debt is...

What is Cancellation of Debt (COD)? Cancellation of debt (COD) is the forgiveness of debt. This can occur when a lender agrees to cancel all...

What is 'Quick-Rinse Bankruptcy' A bankruptcy proceeding that is structured to move through legal proceedings faster than the average bankruptcy. The term...

What is 'Quality Spread Differential - QSD' The term 'quality spread differential', or QSD, refers to the difference between the price of a low-quality commodity...

What is the 'Fair Debt Collection Practices Act - FDCPA' The Fair Debt Collection Practices Act (FDCPA) is a federal law that...

What is the Wage Earner Plan (Chapter 13 Bankruptcy)? The Wage Earner Plan, also known as Chapter 13 bankruptcy, is a repayment plan for individuals...

DefinitionGarnishment is an American legal process for collecting a monetary judgment on behalf of a plaintiff from a defendant. Garnishment allows the plaintiff to...