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Credit cards are the most common revolving debt: you borrow against the credit, pay it off, and borrow against it again and whatever you don't pay off moves to the next month's balance.
It means that you haven't haven't had your credit cards long enough, basically. It can also mean that there wasn't any major issue, but the credit score wizards had to give you something.
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What does insufficient debt experience mean?
In short it means that you have one or both of the following problems: 1.) You haven't paid off enough debt in a timely manner for a company to trust you to pay back any debt you may incur or 2.) You haven't established credit. The easiest way to establish credit is to get a credit card and and pay back the debt when its due on the credit card statement is due not in bulk.
What does toxic debt mean?
A debt which is never likely to be repaid by the debtor.
What does subject to debt mean?
Subject to debt means that you are subject to being in debt. This is usually in reference to something being dependent on you being in debt.
What does the concept of secured debt mean in finance?
Secured debt is a debt that is guaranteed by the use of collateral. If the debt is not repaid, the creditor has the right to take the collateral from the borrower.
What does credit debt reduction mean?
Credit debt reduction refers to the process of trying to reduce someone's debt through various means, such as renegotiating debt repayments, debt forgiveness, reduced interest rates, or eliminating late fees.
Who pays credit card debt if you die?
The debt will be paid from your estate. If there isn't enough, then the debt is discharged. The debt itself will not pass on to next of kin but a sizable debt might mean none of the deceased's estate does either.
What does insufficient debt experience mean?
In short it means that you have one or both of the following problems: 1.) You haven't paid off enough debt in a timely manner for a company to trust you to pay back any debt you may incur or 2.) You haven't established credit. The easiest way to establish credit is to get a credit card and and pay back the debt when its due on the credit card statement is due not in bulk.
What does it mean if something is revolving?
If you say something is 'revolving', it usually means it's turning around. :)
What does roll on an airplane mean?
To move along a surface by revolving or turning.
What does it mean for your account type to read revolving on your credit report?
Credit cards are revolving accounts. Whereas car loans and home loans are not. A revolving account is one where you can carry a balance and charge it back up as you pay it off.
What does cyclical mean?
revolving or cecurring in cycles; characterized by recurrence in cycles Rock on!!
What does hit the black mean?
its when you are in debt and you come out of debt when you get money.
What does debt outstanding mean?
That u payed your debt in full
Which president created the cycle of debt?
I am not sure how you define "cycle of debt", but if you mean the entitlement payments that Congress is afraid to cut and are also afraid to raise taxes enough to pay for, I give Franklin Roosevelt the credit for starting it all.
What does discharge of a debt mean when it is not associated with bankruptcy does it mean the debtor is fullt released from the obligation to repay the debt?
Yes, if a debt is discharged the debtor no longer has to pay.
What does toxic debt mean?
A debt which is never likely to be repaid by the debtor.
Do orbit and revolve mean mean the same thing?
Yes and no. To revolve can also mean to rotate, to spin on a central axis contained within the object, like a revolving door. To orbit is to circle around a central point without touching it. That is sometimes called revolving also.
