What is a junior debt?

Answer A junior debt is a debt that, in the event of default by the debtor, will not be repaid until at least one other debt is repaid first. Junior debts are higher risk than senior debts and therefore o... Read More »

Top Q&A For: What is a junior debt

What is the best debt consolidation service for a 100k debt?

On One Hand: Debt Consolidation Mortgages Can HelpWith large amounts of debt, getting a debt consolidation mortgage could be an option. The payments are spread out over the term of the mortage, red... Read More »

If Debt Is Past SOL, What Else Can a Debt Collector Do?

A creditor has a limited period of time to sue a debtor for the collection of a past-due or delinquent line of credit. This period of time is known as the "statute of limitations," and it is set at... Read More »

How Long Does a Debt Collector Have to Respond to a Request for Evidence of Debt?

The Fair Debt Collection Practices Act requires lenders and collectors to abide by rules and regulations to ensure that borrowers are being treated fairly and with respect. One of these rules is th... Read More »

How long after a credit card debt judgment can a debt be collected in Michigan?

The statute of limitations on collecting a judgment in Michigan is 10 years. Keep in mind that if the debtor is paying off the judgment in installments, the statute of limitations is put on hold du... Read More »