These are a few questions you need to ask yourself. 1. Do you have proof the the actual balance that should have been shown. 2. Have you taken into consideration late fees, intrest charges, costs of collections attempted and costs of attorney. I am a loan officer at my place of employment and this is a small little ditty we put on our loans and member must sign that they were told this. You need to read your copy of your agreement with a fine tooth comb. Actual costs of collections including court costs and attorney fees may be applied to the balance of your loan if you default on your agreement. If you still belive the amount on your credit report that was charged off is false you need to have your attorney speek with the creditor in question and have them prove/break down the charges added onto your balance. If they cannot come up with this call the credit bureaus and request a change with doing so you must show proof of the balance in question being lower than shown on the report.
If the debt has been cancelled, no; if the debt has been charged off, yes.
If the debtor has misplaced the account statements and the accounts have been charged off. Eventually the person will receive a letter from a collections agency stating the name of the creditor and the amount of debt owed. The party involved will have thirty days to dispute the account or the debt will be presumed valid and collection action will proceed. The other option is to get a copy of the credit report. However, not all creditors report to all agencies, the person might want to request reports from all three bureaus.
Recall of a debt by a creditor is when the original creditor asks for the debt to be returned to them after they have sold it, often to a collection agency. This may occur if the debt has not been collected for a certain amount of time, and the debt will be sold to another agency to collect, or if the debtor offers the original creditor a settlement.
Under written down balance method depreciation is charged from original value and after that on written down balance until useful life of asset and any amount remaining at the end of useful life is the salvage value.
False
If the debt has been cancelled, no; if the debt has been charged off, yes.
If a judgment creditor over charged you on a writ of garnishment increasing the interest and the amount to be garnished can the judgment be vacated?
Dont pay it and find out for sure.
When the collection agency contacts you, they have to give you the opportunity to request information concerning the debt. You will have thirty days to send a written request to dispute the debt. And to ask for confirmation of the original creditor, the amount owed, when the account was remanded to the agency, etc.
First, never sign without knowing. Now that you have, you may dispute it through your credit card company. I would suggest you contact the person who charged your credit card and work it out with them first. If they will not, then let them know you will be talking to your credit card company. Talk to a credit dispute representative and file a dispute.
The amount you will owe the creditor will be the amount of your auto loan (including repossession fees, interest, and collection charges) minus the amount the vehicle sold for at auction. The creditor will notify you of the amount due in writing after they auction off the vehicle.
increase the amount of the account payable to the supplier, and decrease an asset such as inventory.
amount of debt
Definately in writing. Get a written confirmation of the accepted amount from the creditor before handing over the settlement. If the account is currently listed as 'in collections' or 'charged-off' paying this account will most likely show 'settled/not in full' or may show 'settled' and the dollar amount of what was paid [by you] and what was not paid.
A creditor will usually accept a lower payoff amount when requested. Usually a lump sum payoff will result in a lower due balance.
Some companies require you to pay fees that are cost to them to take the legal matter.
If you sell a car you owe a creditor a balance on, you pay the creditor the amount you owe him in order to get the title to the vehicle to turn over to your buyer. Anything over the balance owed to the creditor is yours to keep, assuming you sold it for more than you owed on it. If you sold it for less than you owe on it you will have to pay the additional amount out of your pocket to get the title.