Over 35% of Americans have unpaid debts turned over to debt collectors, including credit cards, hospital bills, student loans, auto loans, and mortgages, totaling $11.4 trillion. The average debt handed over to collection agencies is $5,178. American households have an average of over $15,000 in credit card debt, with rewards cards having a higher interest […]
Unrecorded liabilities are not necessarily a result of poor financial management, but rather items of liability that have not yet been reported. Examples include unused vacation time and unexpected expenses. Financial audits aim to limit unrecorded liabilities. One of the first things to understand is that unrecorded liabilities are not necessarily something that develops because […]
Unsecured debentures are debt instruments that allow investors to provide capital to companies for expansions or expenditures. They do not have collateral and do not confer any control over the company. They can be convertible into equity and have floating or fixed interest rates. Unsecured debentures are debt instruments issued by companies through which investors […]
Unrecoverable debts can occur due to various reasons, including unexpected circumstances, changes in the market, or fraud. Governments allow tax deductions for such accounts, and some companies opt for credit security guarantees or create reserves to cover such debts. Las cuentas incobrables refer to deudas that cannot be paid or not. All cases of the […]
