Dont pay it and find out for sure.
Yes, the original creditor should have notified you that you had an outstanding balance. The creditor also notifies you that they will be submitting your debt to a "third party" collection agency. This is usually the final notice before your debt is sold. If you never received a notice, it is not required that the original creditor send you notice, all it is is common curiosity that they do.
If someone has a creditor and has a debit balance and a credit balance this means they have a bank account. The bank account provides the debit card and the bank provides the credit balance.
A creditor is an entity that a company owes money to, such as debt to a bank or bondholders. If a creditor has a debit balance, it means that your company paid more than they owed. If there was a credit balance, you would owe money on that account.
Original creditors sale their accounts to collection agencies when the account has been past due and they have not effectively collected. At that time, the original creditor will charge off the balance from their accounts receivable and turn the account over to a collection agency. When the collection agency collects the debt, a portion of the amount received is paid the the collection agency and the remainder is returned to the original creditor as profit.
You pay what is owed after the creditor sells the car for. So if you owed 10,000 and the creditor sells it for 8000 at an auction, then you would owe the remaining balance.
sundry creditor shows credit balance
In the state of Texas, yes the creditor can follow for the deficiency balance.
In 1999 your balance was past due. In 2004 the creditor determined that you where not going to pay and wrote it off as a total loss. Not a good sign.
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.
YES, THE CREDITOR WILL REQUEST FOR EITHER PARTIAL PAYMENT OR FULL PAYMENT. ASK FOR A LETTER STATING THAT THIS COLLECTION WAS PAID IN FULL AND THAT YOU HAVE A ZERO BALANCE. ALSO; REQUEST THAT THIS LETTER STATES THAT THIS ACCOUNT NEEDS TO BE DELETED IN ERROR, SO THAT YOU COULD SEND THIS LETTER TO THE BUREAUS AND HAVE THEM DELETE THIS ACCOUNT OFF YOUR CREDIT REPORT AND RAISE YOUR CREDIT RATING.
Yes.. always it's in the fine print on the documents you signed.
A creditor will usually accept a lower payoff amount when requested. Usually a lump sum payoff will result in a lower due balance.
You can find your garnishment balance by contacting the court who issued the garnishment or the creditor who put the garnishment on your wages. You could also pull a credit report to see your current balance.
Debt collectors are under no obligation to take a lesser amount than what you originally owe. Most will agree to and acceptable payment plan or offer a settlement if the original creditor allows it.
goods in transit a debtor(customer) could also be a supplier(creditor)
The additional, if any, generally will become an unsecured claim and paid, reduced or dismissed depending on the other assets available to that class of creditor.
Yes. If there is a balance due on the loan and the creditor has obtained a court judgment.
Yes. It doesn't matter how much the account balance is, it only matters if the creditor can collect the money owed after wining a lawsuit
the original creditors claim should drop off and the CA claim stay. Double?? Likely, the unterest and fees are building up. Try to settle this somehow. They WILL deal.
If it is too difficult to maintain payments on a car loan, it is possible to voluntarily give it back to the creditor or dealership. In some states, however, a creditor can sue for the remaining balance owed on the loan.
looks like 6 years. AFTER they get a judgement, they can garnishee your wages, ect. NO JAIL.
Yes. Their receivables will be sold to someone. That someone (assignee) will now own the debt from the assignor and will have all of the same legal rights of the assignor. This new group will then look to you, the debtor, to make good on your original contract with the assignor. If you do not they then come come after you just as if they were the original creditor.
A charge off with a zero balance means that a creditor has written off your account as a bad debt. This will show up as a negative mark on your credit report.
With FEW exceptions, YES. that is the lenders usual option to collect.
If the other party has insurance, then their company needs to pay off the balance. you are but you can sue their insurance for the loss but the creditor will expect you to owner the contract(the loan)