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If you try to accept a settlement offer from a creditor after the expiration date can they deny you the settlement amount and garnish your wages?
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Can a creditor in NC refuse to accept monthly payments and threaten to garnish wages at 30 percent of gross?
They can refuse any payment offer that is different than the amount specified in the contract. And don't think of the statement that they will garnish 30% of your wages as a threat. It's a warning, but they will need to sue you and get a court order to do it.
What is a negotiated debt settlement?
Negotiated debt settlement is when a creditor agrees to close a debt and consider balance zero by accepting less than the full balance that is owed. Let's say you owe capital one $10,000. You have $3,000 and offer them to consider the remaining balance forgiven. If they accept, you have a negotiated debt settlement.
Will a creditor accept a lower payoff amount?
A creditor will usually accept a lower payoff amount when requested. Usually a lump sum payoff will result in a lower due balance.
Can a creditor garnish wages if you send them a small amount of money?
Yes, if the creditor chooses to sue the borrower and receives a judgment award the borrower's wages can be garnished. Please be advised, once a lending contract has been defaulted the lender can take whatever action they choose, the fact that they may accept a lower payment then originally agreed on does not mean they cannot pursue a lawsuit.
Money that a creditor must accept by law is called what?
legal tender.
What is limited legal tender money?
Legal Tender is a forced tender payment that should be not refused in settlement of a debt. http://en.wikipedia.org/wiki/Legal_tender
Is there anyway to reduce the deficiency one your car has been repossessed?
You would have to negotiate that with the creditor. Many are willing to accept settlement agreements to have the deficiency paid off.
Can a settlement be made with a creditor even if a judgment has been made?
Maybe, you would have to negotiate with them and see if they are willing to accept a different offer; if they are not interested then the decision stands.
Can a creditor in NC refuse to accept monthly payments and threaten to garnish wages at 30 percent of gross?
They can refuse any payment offer that is different than the amount specified in the contract. And don't think of the statement that they will garnish 30% of your wages as a threat. It's a warning, but they will need to sue you and get a court order to do it.
What is a negotiated debt settlement?
Negotiated debt settlement is when a creditor agrees to close a debt and consider balance zero by accepting less than the full balance that is owed. Let's say you owe capital one $10,000. You have $3,000 and offer them to consider the remaining balance forgiven. If they accept, you have a negotiated debt settlement.
Will a creditor accept a lower payoff amount?
A creditor will usually accept a lower payoff amount when requested. Usually a lump sum payoff will result in a lower due balance.
Can a creditor garnish wages if you send them a small amount of money?
Yes, if the creditor chooses to sue the borrower and receives a judgment award the borrower's wages can be garnished. Please be advised, once a lending contract has been defaulted the lender can take whatever action they choose, the fact that they may accept a lower payment then originally agreed on does not mean they cannot pursue a lawsuit.
Money that a creditor must accept by law is called what?
legal tender.
What do you call any kind of money that a creditor must by law accept in payment of debts?
Legal tender. In plain English, it's the currency that is in use in a particular country. US dollars in America, Sterling in the UK and Euros in much of Europe for example.A creditor is normally free to accept other forms of payment if he chooses to. The creditor may decide to accept a foreign currency rather than wait for the payment in the legal tender of the country. The creditor is normally not obliged to accept anything other than legal tender.
What is mora creditors?
the failure of creditor to accept proper performancewhen tendered by the debtor
Is the money that a creditor must by law accept in payment of debts?
Legal Tender.
Does Bose accept coupon codes for their products?
Yes, if you have a coupon code for Bose, they will accept it. You just have to use it on or before the expiration date.
