Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of ...

A letter of credit guarantees payment to sellers in international trade. Not all letters of credit are transferable; terms vary. Letters of credit differ from lines of credit, mainly not involving ...

Accounting for a letter of credit on your balance sheet depends on when you use it. One issued by your financial institution acts as a credit substitute. That institution, often a bank, steps into ...

A goodwill letter is a formal written request asking a creditor to remove a negative mark, like a late payment, from your credit report. Goodwill letters are most effective if your payment history and ...