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Can an unlicensed lending company sue you for not paying your debt?
Wiki User
∙ 11y ago
Yes.
ANYBODY that lends you money can sue you for not paying your debts. The licenses simply means that the company must follow the guidelines of the the fair lending practices of the US (or any other country which has such laws).
Anyone can lend money to anyone they wish (with certain exceptions such as age, mental ability, and usury law restrictions). It may be easier to fight the lawsuit since the lender is working as a company and not as a private citizen lender. The problem is, if you signed a promissory note (contract) saying you will pay the money back, you have entered into a legally binding contract for which you can be sued if you fail to fulfill your portion of said contract.
Wiki User
∙ 11y ago
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Can you still talk to the credit card company directly for paying off an unpaid debt or do you have to talk to the debt collection company?
Once the debt. has been charged off and sold to a outside collection source you must talk to them.
Can you be arrested for not paying your apartment debt?
Yes you could be arrested for not paying your apartment debt.
Why is it that people who are in enormous debt tend to get more credit card offers than the people that have no credit or low credit scores?
Lending companies have calculated that if you have no credit or low scores, that means you are a risk and probably won't be able to pay them back. So they don't offer cards as much to these people. People with large debt (but who still pay more or less on time and therefore have decent credit) are paying huge amounts of interests to the lending companies already. If you are a credit card company, you hope to load these people up with debt and more debt so they will pay lots of interest to you. Of course there is the danger that the debt will become too much, and then you've got problems.
What is it called to stop paying off debt?
To stop paying on a debt is to "Default" on the credit agreement.
How might you measure a company's liquidity and short-term debt paying ability?
CALCULATE CURRENT RATION Type your answer here...
What kind of debt lending does Crescent Direct Lending provide?
Crescent Direct Lending provides senior secured debt to private companies. For the investors of their company, they seek to make them highest returns on their loans.
Is a home mortgage debt considered a federal debt?
No. A federal debt is a debt that is owned to the federal government. A home mortgage is a debt that is owed to the lending agency, be it a bank, a mortgage company, etc.
How are corporate bonds different from corporate stocks?
Stock is a equity ownership in a company. Bonds are a debt instrument: you are lending the company money.
Can you still talk to the credit card company directly for paying off an unpaid debt or do you have to talk to the debt collection company?
Once the debt. has been charged off and sold to a outside collection source you must talk to them.
Can you be arrested for not paying your apartment debt?
Yes you could be arrested for not paying your apartment debt.
Can you get out of a deed of trust?
Yes, by paying off the debt.Yes, by paying off the debt.Yes, by paying off the debt.Yes, by paying off the debt.
Can you file for protection against a company?
What type of protection are you looking for? If you are trying to keep from paying a debt, there is bankruptcy protection.
Why is it that people who are in enormous debt tend to get more credit card offers than the people that have no credit or low credit scores?
Lending companies have calculated that if you have no credit or low scores, that means you are a risk and probably won't be able to pay them back. So they don't offer cards as much to these people. People with large debt (but who still pay more or less on time and therefore have decent credit) are paying huge amounts of interests to the lending companies already. If you are a credit card company, you hope to load these people up with debt and more debt so they will pay lots of interest to you. Of course there is the danger that the debt will become too much, and then you've got problems.
What is it called to stop paying off debt?
To stop paying on a debt is to "Default" on the credit agreement.
How might you measure a company's liquidity and short-term debt paying ability?
CALCULATE CURRENT RATION Type your answer here...
Define the term unlimited company?
the company where in the liabilities of shareholders are unlimited means that in case heavy losses, the personal property of shareholders will also be sold for paying of the Debt's of the company if the assets are insufficient such companies are not found in the wold. the company where in the liabilities of shareholders are unlimited means that in case heavy losses, the personal property of shareholders will also be sold for paying of the Debt's of the company if the assets are insufficient such companies are not found in the wold.
How does the world get out of debt?
The world gets out of debt by paying their debts
