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2. What is an outstanding balance on a credit card? - AOL

   www.aol.com/finance/outstanding-balance-credit...

   An outstanding balance on a credit card is the amount of money you owe the minute you check your account. This amount includes all charges on your account you have not paid for, including recent ...

3. Accounts receivable - Wikipedia

   en.wikipedia.org/wiki/Accounts_receivable

   Accounts receivable represents money owed by entities to the firm on the sale of products or services on credit. In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an established timeframe, called credit terms [citation needed] or payment terms.

4. Debt collection - Wikipedia

   en.wikipedia.org/wiki/Debt_collection

   The person who owes the bill or debt is the debtor. Debtors may fail to pay (default) for various reasons: because of a lack of financial planning or overcommitment on their part; due to an unforeseen eventuality such as the loss of a job or health problems; dispute or disagreement over the debt or what is being billed for; or dishonesty on the ...

5. Debits and credits - Wikipedia

   en.wikipedia.org/wiki/Debits_and_credits

   A debit card is used to make a purchase with one's own money. A credit card is used to make a purchase by borrowing money. [20] From the bank's point of view, when a debit card is used to pay a merchant, the payment causes a decrease in the amount of money the bank owes to the cardholder. From the bank's point of view, your debit card account ...

6. I Owed Six Figures in Credit Card Debt: 7 Things I Wish I’d ...

   www.aol.com/finance/owed-six-figures-credit-card...

   Credit card debt can sneak up on you faster than a surprise Amazon package -- and seriously derail your finances. Just ask Jill N., who found herself staring down a $124,000 credit card bill and...

7. Debt - Wikipedia

   en.wikipedia.org/wiki/Debt

   Common types of debt owed by individuals and households include mortgage loans, car loans, credit card debt, and income taxes. For individuals, debt is a means of using anticipated income and future purchasing power in the present before it has actually been earned. Commonly, people in industrialized nations use consumer debt to purchase houses ...