Cambodian definition, of, relating to, or characteristic of Cambodia, its people, or its culture. See more.
Outstanding Principal Balance The outstanding principal balance of a mortgage is simply the total amount of money it would take to pay off the loan in full. How much this amount is depends on how much was originally borrowed, how much has been paid down, and what the annual interest rate is.
Your credit score is determined by a variety of factors, but the one that is relevant to paying or settling collections and charge offs is your outstanding balances. FICO generates 30% of your credit score by accessing your outstanding balances. When you payoff or settle collections and charge offs, you eliminate the balances, thus impacting your score in that manner as well.