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Can a company that purchased your charged off account from the original lender file a suit against you?
Wiki User
∙ 14y ago
YES, they purchased a debt contract. The original creditor does not forgive / eliminate a debt by selling it to a collector -- they simply gave-up on collecting a worthwhile settlement from you.
Wiki User
∙ 14y ago
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Can a company who bought a charged off account try to collect interest on the account?
Yes, interest and fees are still charged when an account is sent to collections or purchased by a third pary collector.
If you have a card being charged off is your spouse responsible for the debt?
She is only responsible if she is an actual joint account holder. Having a second card on the account does not make her liable for the debt. The person(s) making the original contract is the one who is the sole debtor
Can you still be charged any fees after you close a credit card account?
You can be charged any fees that were applicable to the account when it was still open. Yes, fees and interests will still be applied as long as there is an account balance.
Reserve Is a charge against profit or not?
no.it is not charged against profit
What is bank account interest?
interest charged to bank accounts
Can a company who bought a charged off account try to collect interest on the account?
Yes, interest and fees are still charged when an account is sent to collections or purchased by a third pary collector.
How do you refund donuts on the simpsons tapped out?
You cannot 'refund' donuts, they must be purchased in the game which will be charged to your apple account.
What does 'Transferred Account charged off' mean?
It means the original creditor has given up the account and sold it to a collection agency. It does not mean the debtor is relieved of the debt. Someone wants the money and they will get it, somehow.
If your bank account says EFT Charged Off does this mean that the account is closed?
If an account is charged off it is automatically closed. It is listed as uncollectable debt.
If you settled a charged off account with a collections agency for less than the full amount can they resell the difference to another agency?
Yes unfortunately they can. Companies today want the charged off account money and will sell it to another agency in order to get this. It will show up on your credit report under another company...so you have 2 listings on your credit report for the original account.
You had a credit card account which they charged off and sold to a collection agency ca Now you have that charge off which carries a balance and a CA collecting on the same debt What could you do?
It is unlikely that the account was "sold" to a collection agency. Rather, the agency was contracted to recover the debt. The "charge off" of the account only affects the original creditor, and represents a loss reported against the company's taxes. If the collection agency has attempted to recover the debt and has been unable to, the original creditor will likely pull back the account and refer it to another agency in hopes of greater success.
If depreciation is charged on original cost than which method of depreciation should be used?
kavita purchased machinery of rs 5 lak on 1 jan 2007 she also paid instullation charged rs 5o thousand, she sold the machinary 2011 rs 4 lack depreciation is charged at 10 % on 31 dec pass the necessary journal entry under original cost method.
Do I legally owe the company that purchased my charged off account from the original lender who has closed the account and it no longer appears on my credit report?
Yes. Your signature for the first debt obligation transfers to the second when it was assumed by the second creditor. It may not be on your credit report because you may not be late. Their policies may also be different than the first. But you will eventually be reported to whatever credit agency(agencies) they report to.
Do you get charged for creating an itunes account?
No.
What is the Journal entry for gain on sale of equipment?
debit accumulated depreciationdebit cashcredit assetcredit gain on sale of assetDebit to Cash (or Accounts Receivable) for the sale Price. Debit to Accumulated Depreciation for the total amount of depreciation charged against that piece of equipment since its original purchase date. Credit to Equipment account for the original purchase price. Credit to Gain on Sale of Fixed Asset (or Other Income) for the difference needed to balance the entry.
Bank account debt collection?
I have a charged off account at the bank of 146.00 how do I pay that off when I'm unemployed I have a charged off account at the bank of 146.00 how do I pay that off when I'm unemployed
If you have a card being charged off is your spouse responsible for the debt?
She is only responsible if she is an actual joint account holder. Having a second card on the account does not make her liable for the debt. The person(s) making the original contract is the one who is the sole debtor
