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When a statement is send to account owner and showing credit at the end?
When a statement is sent to the account owner showing a credit at the end, it indicates that there is a positive balance or an amount available for the account holder. This could result from payments received, adjustments, or overpayments made to the account. The credit may also suggest that the account owner has funds that can be used for future transactions or withdrawals. It's important for the account owner to review the statement for details regarding how the credit was applied.
What does the phrase 'Sundry Debtors' mean against a debit entry on a personal current account statement?
The phrase 'Sundry Debtors' on a personal current account statement typically refers to amounts owed to the account holder by various individuals or entities. It indicates that there are multiple small debts or receivables that the account holder is expecting to collect. This entry suggests that the account holder has extended credit or has outstanding payments due from these debtors.
Is an additional credit card holder liable for the whole debt on the credit card account?
ia an additional credit card holder liable for the whole debt of the credit card account
Is a secondary credit card holder resposible for debt?
Depends on what "Type" of Credit Holder you are. Here is how that will go: If you are what is known as an authorized user on the account. (i.e. - The Primary account holder has given you permission to make charges on the account), the answer is No. The primary account holder is responsible for any charges he/she has allowed you to make on the account. If you are a Secondary account holder (i.e. -your name was put on the account APPLICATION at the time the card was applied for), then your answer is YES. If the Primary account holder defaults on the account, then the credit card company will turn to try and collect from the Secondary account holder. BEWARE of becoming a secondary holder on anything that has to do with credit. If you know that the Primary holder may default, you could get stuck with a huge amount of debt on your hands, and if you can't pay, your nice credit score of 783 could very quickly go down the drain to 535 or lower.
How do you get any credit card benefits if one of credit card holder has died?
If you are a joint account holder you can still use the card. The creditor should be notified of the death of the other account holder. They may simply remove the person from the account or require you to open a new account in your name. However, if you are the joint holder you are responsible for the entire amount owed on the account.
What does a credit score of 9001 mean?
Account holder deceased
What does 'name of account holder' mean?
Name of account holder refers to the name of the person who owns the account. This can be for bank accounts, credit accounts, loans or utility services.
Can you be removed as a joint account holder when you have not placed any debt on credit card?
No you must close the account.
What doe Cb mean on a bank statement?
"Cb" on a bank statement typically stands for "cashback." It indicates a transaction where a certain percentage of the purchase amount is returned to the account holder, often as part of a credit card rewards program. This can also refer to a "credit back" for refunds or adjustments made to an account. Always check with your bank for specific terminology used in their statements.
Is a wife who is not a joint account holder responsible for her husband's credit card debt in Illinois?
Illinois is not a community property state, therefore a spouse who is not a joint account holder is not responsible for the credit card debt of the other spouse.
Can an authorized user on a credit card become the sole account holder?
No, credit card accounts are not transferrable. It might be possible for the person to become a joint account holder, but that would depend upon the card issuer's lending policy.
How can you have your former husband's name removed from a line of credit that is linked to your personal checking account so he is not responsible for liablilty or credit reference?
A joint account holder cannot be removed from the account, the account will have to be closed.
