What is installment debt?

Answer Installment debt can help a consumer finance a car, a home or even a computer. By making regular payments over a pre-set period of time, an individual can satisfy his financial obligation to the cr... Read More »

Top Q&A For: What is installment debt

Is Revolving Debt or Installment Debt Better for Your Credit Score?

While reviewing your credit report, you may notice some debts marked as "revolving" while others are labeled "installment". Although these types of accounts are very different, having both on your... Read More »

How long does a bad installment debt stay on your credit report?

Installment debts, unlike revolving debts, have a preset payoff date. If you have a delinquent installment debt on your credit report, the Fair Credit Reporting Act says that it will be removed sev... Read More »

What are installment loans?

An installment loan is a type of short-term loan that the user pays back with a fixed number of equal-sized payments. The person who received the loan is put on a schedule to pay back the loan.When... Read More »

What is a home equity installment loan?

Home equity installment loans are commonly referred to as second mortgages. A homeowner secures the loan using the existing home equity without having to refinance the primary mortgage.AdvantagesA ... Read More »