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  2. How to write a letter of explanation for a mortgage - AOL

    www.aol.com/finance/write-letter-explanation...

    If you do, your lender will request one. When you apply for a mortgage, you’ll need to hand over plenty of documentation: your bank statements, tax returns, pay stubs and details on your debts ...

  3. Clear an outstanding balance on an inactive account - AOL Help

    help.aol.com/articles/mailing-address-to-clear...

    This process only applies to inactive accounts - For outstanding balances on active accounts, update your payment method online. Send us your information. We'll need you to send us the information necessary: • Your name • Your AOL username • A check or money order to cover the balance

  4. Banker's acceptance - Wikipedia

    en.wikipedia.org/wiki/Banker's_acceptance

    A banker's acceptance is a document issued by a bank institution that represents a bank's commitment to make a requested future payment. The request will typically specify the payee, the amount, and the date on which it is eligible for payment. After acceptance, the request becomes an unconditional liability of the bank.

  5. Dunning (process) - Wikipedia

    en.wikipedia.org/wiki/Dunning_(process)

    Sample dunning record, from a 1913 business manual. Dunning is the process of methodically communicating with customers to ensure the collection of accounts receivable . Communications progress from gentle reminders to threatening letters and phone calls and more or less intimidating location visits as accounts become more overdue .

  6. Debt settlement - Wikipedia

    en.wikipedia.org/wiki/Debt_settlement

    A portion of each payment is taken as fees for the debt settlement company, and the rest is put into the trust account. The consumer is told not to pay anything to the creditors. The debt settlement company's fees are usually specified in the enrollment contract, and may range from 10% to 75% of the total amount of debt to be settled. [ 13 ]

  7. 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 ...