Senior debt refers to a class of debt that has priority over other types of debt in the event of a borrower's default or bankruptcy. It is considered less risky…
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The Loan-to-Value (LTV) ratio is a financial metric used by lenders to assess the risk associated with a loan, most often in the context of mortgage lending. It is calculated…
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Priority payables refer to the financial obligations and liabilities that an individual or organization must prioritize for payment over other liabilities due to their importance, urgency, or the potential consequences…
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Accounting Insolvency occurs when a company's total liabilities exceed its total assets on its balance sheet. This situation indicates that the company owes more money than it owns in assets,…
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Balance Sheet Insolvency occurs when a company’s total liabilities exceed its total assets, indicating that the company’s financial obligations are greater than the value of its assets. This type of…
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Cash-Flow Insolvency occurs when a business or individual is unable to meet its financial obligations as they come due, despite potentially having assets that exceed its liabilities. This type of…
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A debt advisor in the United States, also known as a debt counselor or credit counselor, is a professional who helps individuals facing financial challenges related to debt management, credit…
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A credit counsellor in Canada is a trained professional who provides advice and support to individuals facing financial challenges, such as managing debt, improving credit, or dealing with financial stress.…
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