2007-09-06 12:31:45 · 2 answers · asked by Anonymous in Business & Finance ➔ Credit
That's a pretty generic question. Actually, any amount of debt that you cannot comfortably pay back on an agreed basis is bad as far as I'm concerned.
However, if you are talking about how it affects your credit....not all "bad debt" is necessarily reported to the credit bureau. Essentially, anything that will reduce your credit score is bad debt. This means anything that is reflected on your report as late (has to be 30 days or more) or any amount sent to collection or any amount that is reflected as existing and unpaid (whether or not settled or you disagree) that is reported on the bureau is going to affect you negatively.
2007-09-07 06:15:50 · answer #1 · answered by MJ 4 · 0⤊ 0⤋
It's not the amount, so much as the time it's late. I'd say anything over 90 days overdue would constitute "bad debt."
Certainly anything over 30 days overdue will constitute a negative mark on your credit reports.
2007-09-06 19:36:24 · answer #2 · answered by Uncle Pennybags 7 · 1⤊ 0⤋