0
What is the chance of being sued for a outstanding credit card balance under 700 that he credit card company has already charged off?
Wiki User
∙ 16y ago
Who would sue you? If it is charged off the CC's have given up because it is not worth their time or money. but it could be sold to some collection crooks that will tell you that they will come after you. If it was wrote off they can't legally collect it, but they are known to LIE and if you make any kind of payment you could again start the whole thing over. Chances are the statues of limitation have run out and then it is noncollectable by any one unless you pay on it.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
How does it work debit card or credit card?
A credit card - is a temporary 'loan' from the card company with a 'promise' to pay back the amount spent over a period of time. The card company pays the retailer immediately, and the card-user is billed at the end of the month, with interest charged on the outstanding balance. A debit card - is a form of electronic 'cash'. The transaction can ONLY be completed if there are already sufficient funds in the bank account that the card is linked to. The amount 'spent' on the card is usually transferred from the users's account the same (or next) working day.
How do you calculate Book value per share?
Look in the Company's Balance Sheet. Total Assets -Total Liabilities ______________________ = Book Value per share Outstanding Shares
What are prepaid expenses and prepaid revenues how are they reported on the balance sheet?
Prepaid Expenses:These are expenses for which company has paid in advance but the benefits has not yet received that's why it is an asset of company and shown under current assets in balance sheetPrepaid Revenues or unearned revenues:These are revenues for which company has already received the payment from clients but services or products has not yet supplied so it is a liability of company and shown under current liability section of balance sheet.
What does it mean to reconcile checks?
Either pay it or come to an agreement with the company. If you are reconciling a cash account, it means to identify all of the differences between your balance and the bank's balance. Your checkbook might show $100 balance but the bank says you have $109. Why? Because you wrote a $10 check that has not been cashed, and the bank charged you a $1 fee that you didn't know about. So you subtract the fee, bringing your checkbook balance to $99, and when that outstanding check hits the bank, they will also show $99. If you are reconciling some other account, like accounts receivable, this is normally done by preparing a detail schedule, a listing of all customers and their balances - the total should agree with the total ledger balance.
What is the trial balance of a company?
The trial balance of a company is a list of all the accounts (income, expense and balance sheet) with their current balances. A trial balance should always total zero
What is outstandanding balance in a credit card?
The outstanding balance is very simply the amount of debt that you have charged on the credit card. You owe that amount to the credit card company.
What is outstanding liabilities?
The outstanding liabilities are which are not paid yet. These outstanding liabilities are due on company's balance sheet and we have to pay them. Muhammad Asif MBA (Finance)
Can a company who closes your account try to collect interest three years after closing the account?
Yes, if you still owed a balance at the time the account was closed. Just because a company closes an account does not mean that any balances that are owed to them disappear. If your account was closed and there was still a balance outstanding and you did not pay that balance, the company has every right to collect the balance and any interest outstanding.
What do you mean by number of outstanding shares?
Number of shares held by investors for a company. For instance, if a company goes public and issues 100,000 shares, then the number of shares outstanding is 100,000. This number can be found on the balance sheet of a company!
If your insurance gets cancelled for non-payment can you get insurance with another company or do you need to pay the outstanding balance first?
Is there really an outstanding balance? Did the company give you insurance beyond any grace period for some sort of promise-to-pay? If not, there should be nothing owed to the old company, and you could probably get re-instated with them. A new company will cover you as soon as you pay their first premium.
What is the amount of money you owe to the credit card company called?
It's called the outstanding balance - or more accurately... debt !
What is the amount of money you still owe to their credit card company called?
It's called the outstanding balance - or more accurately... debt !
Can your car loan increase if sold to another finance company?
Absolutely ! The new company can pretty much charge what they like in interest on the outstanding balance - meaning your debt will be more..
What is credit card debt cancellation?
Debt cancellation is a type of credit insurance service provided by the credit card company usually for a monthly fee. In most cases, the card company will wave the outstanding balance on your card in case of your death or long term illness. The fee charged is a fixed percentage of your monthly outstanding balance. Debt cancellation is usually sold in conjunction with debt suspension and is termed DCDS. Debt suspension is a similar type of service, but instead of canceling the outstanding debt, the monthly payments may be suspended for a short period of time such as one year in the case of involuntary unemployment or some other type of unexpected life events.
Where do you find positive and negative numbers in finance?
In a company balance sheet.In a company balance sheet.In a company balance sheet.In a company balance sheet.
How does it work debit card or credit card?
A credit card - is a temporary 'loan' from the card company with a 'promise' to pay back the amount spent over a period of time. The card company pays the retailer immediately, and the card-user is billed at the end of the month, with interest charged on the outstanding balance. A debit card - is a form of electronic 'cash'. The transaction can ONLY be completed if there are already sufficient funds in the bank account that the card is linked to. The amount 'spent' on the card is usually transferred from the users's account the same (or next) working day.
How do you calculate Book value per share?
Look in the Company's Balance Sheet. Total Assets -Total Liabilities ______________________ = Book Value per share Outstanding Shares
