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Can lawyer representing a creditor drop the interest on a judgment without creditors permission?
Wiki User
∙ 15y ago
Sometimes. It depends on the contract with the lawyer and what his powers of representation entail. Usually he/she will have certain "powers of attorney" implied in the position as your representative. Negotiating terms of payment and specific interest is usually discussed with a client before any action is taken.
Wiki User
∙ 15y ago
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Can a creditor still charge interest rates if they are garnishing your wages?
If you have a garishee against your salary can the creditor still charge interest. Thanks Theo
What do firms owe their creditors?
Firms will owe their creditors a debt and usually some type of interest.
Do you have to pay the creditors attorney fees and assorted fees tacked on to the original debt if sued or can you still settle for less at that point?
Possibly, but only if the creditor suing is willing to do so. A settlement is purely voluntary. If the creditor believes it has an open and shut case against a debtor for both the debt and fees, the creditor might have no reason to accept less than it would get in a judgment. It is always worth it to try to settle for less than the total amount sued. There are several reasons that motivate creditors to take less. Creditors almost always will take something less than the full amount if the case can be closed. If a creditor gets a judgment and has to garnish wages, it will take some time before the amount is paid, there will be lots of bookkeeping involved and the judgment amount will earn a low rate of interest. It is better for the creditor to take even 70% or less of the debt just to close the file and move on. Also, keep in mind that sometimes, creditors throw in those extras like interest and attorney fees to inflate the amount sued for just to scare the debtor into "settling" for the full amount of the original debt. Some creditors know they will not be awarded these extras but they sue for them anyway hoping the debtors do not know this.
How does nonprofit debt consolidation work?
Nonprofit debt consolidation works by combining a debtor's debts into one loan. The creditor then takes out a lower interest loan to pay the combined debt so that the debtor has lower interest rates to pay.
Do Assets always equal the financial interest of creditors plus the financial interest of the owner?
I am wanting you to provide an answer
Can a lawyer charge interest on a judgment?
The lawyer doesn't charge interest on a judgment.Once the creditor wins a lawsuit and the court issues a judgment lien, the creditor is legally entitled to interest from the time the judgment is issued until it is paid. The debt can grow quickly. In Massachusetts the interest rate is 12%.
If a judgment creditor over charged you on a writ of garnishment increasing the interest and the amount to be garnished can the judgment be vacated?
If a judgment creditor over charged you on a writ of garnishment increasing the interest and the amount to be garnished can the judgment be vacated?
What does a times interest earned ratio indicate?
the margin of safety provided to creditors
Can a bankruptcy judge make a creditor lower the interest rate?
In cases of bankruptcy, it is quite common for interest rates to be renegotiated.
If multiple interest is signed over to one interest on property can judgments remain if the sole owner is not the debtor?
If the debts arose prior to the transfer of title they will remain on the property. Generally it is illegal to transfer the title to real estate in order to avoid creditors. It is relatively easy for the creditor to prove the transfer was made to avoid a debt and the court can nullify the transfer. On the other hand if the creditors recorded attachments or liens in the land records those travel right along with the title and the grantee takes title subject to those liens.
If a company takes a longer period to pay creditors is it favourable?
No. Paying late is a bad thing. The most important thing is to pay on or before the due date. Paying late will hurt your credit score, but might help you earn a little extra interest in a high-interest environment (consider time value of money). Paying early does not get you any extra points, but might make the creditor happy.
If you haven't paid on old debts and start making payments will other creditors see this and try to collect?
What actually happens is that creditors are monitoring your credit report for hits and activity. When you reopen old debt meaning that that old dormant account shows new activity such as a repayment other creditors will pick that up. More importantly than the fact that you have started to pay other creditors is an interest in updated information you may have provided regarding new address, employers, banking info etc you may have given in an attempt to satisfy the creditor that you are trying to repay which is used to locate you and your money in an attempt to collect their debt also.
