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Can a credit card company you just got a card from argue with the Ch 7 if you recently transferred a balance over to them due to lower interest rates?
Wiki User
∙ 8y ago
Any creditor can ask to be excluded from the bankruptcy discharge. It is up to the judge to decide if it would be allowed. That issue will be addressed in the 341 hearing.
Wiki User
∙ 8y ago
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What exactly are balance transfer offers?
A credit card balance transfer is when someone opens a new credit card account to pay off an old one. The debt plus the interest is then owed to the new credit card company, who most times provides a grace period where a smaller amount of interest is charged on the transferred balance.
What is a balance transfer with regards to credit cards?
A balance transfer is when an amount owing on one credit card is transferred to another credit card. This is usually done to take advantage of lower interest charges. A credit card company usually specifies a minimum/maximum amount you can transfer.
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.
Who is able to do balance transfer?
A balance transfer is done by the credit card company. If you want to transfer all of your balances to one card, you must apply for it, and once approved the credit card company will contact the companies of the cards you want transferred.
Can a credit card company charge you interest if you pay off the balance on your card?
Ask yourself 'what is interest?'. Find out your interest rate and times it by ZERO. How much money do you owe them now?
What exactly are balance transfer offers?
A credit card balance transfer is when someone opens a new credit card account to pay off an old one. The debt plus the interest is then owed to the new credit card company, who most times provides a grace period where a smaller amount of interest is charged on the transferred balance.
What company currently offers low interest balance transfer of other credit cards?
Discover is one company that offers low interest balance transfer of other credit cards. One can compare interest balance rates online at websites such as Nerd Wallet and Credit Cards.
Micro Fish Company recognized 10000 of interest expense in 2007 The balance of the company's interest payable account decreased 2000 The amount of cash paid by the company for interest in 2007?
Company has paid 2000 cash for interest due to which interest payable reduced by 2000.
What is a credit card balance A?
It is the balance on your account, indicating either how much money you owe or if you have some money in the account.
What is a balance transfer with regards to credit cards?
A balance transfer is when an amount owing on one credit card is transferred to another credit card. This is usually done to take advantage of lower interest charges. A credit card company usually specifies a minimum/maximum amount you can transfer.
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.
Does interest payable go on a balance sheet?
Interest payable is the interest which is not yet paid and required payment to be made so it is the liability of the company and that's why it will show as a current liability under liability side of the balance sheet.
Why income is a credit in balance sheet?
In a balance sheet, income is typically not recorded as a credit. Rather, income is typically recorded as a debit to the income statement and then transferred to the retained earnings account, which is a part of the equity section of the balance sheet. The income statement is used to report a company's revenues, expenses, gains, and losses over a specific period of time, typically a quarter or a year. Revenues and gains increase the company's net income, while expenses and losses decrease it. Net income is then transferred to the retained earnings account, which represents the cumulative profits and losses of the company since its inception. Retained earnings are considered part of the equity section of the balance sheet, which also includes the company's common stock, additional paid-in capital, and any other equity accounts. Equity represents the residual interest in the assets of the company after all liabilities have been paid. So, to summarize, income is typically recorded as a debit in the income statement, which is then transferred to the retained earnings account in the equity section of the balance sheet. It is not recorded as a credit in the balance sheet.
Who is able to do balance transfer?
A balance transfer is done by the credit card company. If you want to transfer all of your balances to one card, you must apply for it, and once approved the credit card company will contact the companies of the cards you want transferred.
Why is not effect of operating lease on balance sheet?
Under operating lease company is only responsible to pay the rent of using that asset and ownership of asset is not transferred that's why it is not shown in balance sheet.
Can a credit card company charge you interest if you pay off the balance on your card?
Ask yourself 'what is interest?'. Find out your interest rate and times it by ZERO. How much money do you owe them now?
Which interest method do credit card companies prefer?
The interest method that credit card companies prefer will vary depending on the company. In most cases, they use the average daily balance method or the daily balance method.
