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 Where to report fraud & scam cases?
I ordered some shirts from a site called kinggool.com, and he never sent me the goods or refunded the money....I wonder how to report him or how can I get my money back?

I sent him money ...


 What can I do to rebuild my credit?
Well here is my situation, I just recently moved to San Francisco, CA and well my credit is ruined because of stupid loans and what not. I've been applying for jobs, but it seems that I don'...


 I wanted to know that is it going to my credit score by canceling the card?
Hello, I recently received a Macy's visa credit card when I asked for a Macy's store card only! I received it today, I didn't call the number on the card to activate it, instead I ...


 how do i fight a voluntarily repossession from going on my credit?
My wife and I tried to purchase a car about 30 days ago, we left a partial down payment and promised to pay the rest within 30 days and before the first payment. due to a few missing items ( my lost D...


 Weird charge on my credit card?
i dont remembermaking the purchase but at the same time it IS possible. if i call the credit card company up will they tell me WHAT was purchased from there? cause right now on my statement it just ...


 I found a credit card with the name worn off, How can I find the name to return it?
Found it on the ...


 Best Credit Card for Teen?
What is the best credit card for a teen (mastercard, visa, etc.)?

Preferably it would be linked to a parental account (or at least able to accept account transfers nationally and ...


 Are there any low fee payday loan sites?
Hi there, can youo tell me whether there r any low fee payday loan sites? ...


 How can you get your free credit score and report?
All the sites I have been to will give you the free credit report., but not score. Where can you get your free credit score and report?...


 Raising the credit score- Which option is better?
(Just using my credit card as an score booster.....)

When I owe $50 on the bill, is it better to:

a.) Pay it all at once?
b.) Pay ALMOST all of it? Like, leaving $15 on ...


 How did these debt collectors find my address?
So I have recently moved because of the military and somehow 2 debt collectors found out my address. I monitor my credit report and no one has reviewed my credit report sense the move, so they ...


 Is an 18 year old able to obtain a mortgage?
I know I will have to wait until I am 18 which is only a few months away, but how can I obtain a mortgage. I am very good with real estate and have a business plan lined up and a family friend who ...


 My credit score has fallen almost 100 points in a 2 month period?
I was up at 620 in April 2010. I ran my scores for all 3 agencies yesterday and all 3 of them were down just about 100 points. I have not made any late payments or opened any new lines of credit. I ...


 What can I do to fix this credit blemish?
So I applied for a 15% credit card. I'm 21, had a credit card for 3 years. One late payment ever. I had my parents co sign. My dad has perfect credit practically, I have a 720, or 725. (my mom ...


 I don't feel like paying off my student loan, can I have a bail out?
...


 Should we pay off our bills? wanting to buy a home?
We are an income of 3000.00 it is from the VA my husband is a disabled vet. Anyway we want to purchase a home, but have credit cards... 5K, 2300, 2000. our suv is 13K, but not too concerned with that....


 Would an epassporte account show up on a credit report?
...


 Help with finance! If you have a $20,00o payment...?
If you have a $20,000 payment you can make with the following alternatives, which one do you take? What are the amounts for each? Your opportunity cost is 11%.
1. $28,500 at the end of 3 years<...


 repo auto and credit score?
i had repo in december and was wondering it took my credit score down. if i started making payments in small amount can it help my score or be best just not to pay .can you give me good legal advise ...


 I just got a re loadable walmart debit card....?
I am buying something online and with shipping it's $22.91 but there is only 20 dollars on the card, can i still do it?...



madhu
what is a liability with examples?
can any one explain what is liability????with examples......if i have a credit card with a bank and i have to pay 1000 dollars which has a limit of $2000....what is my asset and what is liability ???

thanks.
                     
 




Credit-Coach
Rating
Relative to credit a liability is a debt owed. In your example above, once you use the credit line you created a liability (debt owed) in the amount of $1,000. This liability can fluctate based on your monthly repayment and additional charges. The balance at the end of each month is your liability. Assets are something of value that you own. Cash in your checking account is an asset. If the market value on you car is higher than what you owe the difference is an asset, or if your car is paid off it is an asset with value. The same applies to your home that you own, if the market value is higher than your mortgage that differece is known as equity and is an asset. In all cases with credit cards where you owe money you have a liablility. The difference between your net assets and your liabilities is known as your net worth. The higher your net worth the better off you are financially.


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