Yes, a voluntary repossession does not mean the buyer is not responsible for any of the remaining loan debt according to the original contract terms or for any additional fees.
They will look to you for the remaining balance
The car will be sold at auction. Whatever it sells for at auction will be deducted from the balance remaining. The credit company may initially offer to accept a reduced amount on the balance, but, if you're unable to pay that, they will turn it over to collections for the full amount of the balance remaining.
If commission is received or paid and benefit of which has already taken by company then it is an expense or income of company and will come in income statement but if the benefits are already not taken then it will be asset or liability and will be shown in balance sheet.
If the finance company has sold it, you have you answer. How can you be so stupid?
What I know about this is that a mortgage company that forecloses your house has no right to get the remaining balance to you.
In a company balance sheet.In a company balance sheet.In a company balance sheet.In a company balance sheet.
While most creditors will allow you to have your vehicle voluntarily repossessed, some lenders will not accept them. Your best resolution in this case is to contact the finance company and determine why they will not collect the vehicle. Ensure that they are indeed accepting the voluntary repossession. You will still be required to pay the remaining balance unless you are told otherwise.
Creditors are interested in balance sheet to check that how much money company has already taken as a loan from other creditors and how much assets are pledged and will company be able to return credit or not.
The company sponsors the charity drive, but participation by employees is voluntary. Some staff meetings are mandatory and others are voluntary.
The company physically takes possession of the car. They sell the car, and apply the sale price to the outstanding loan. You are then responsible for the remaining balance.
if the company has overdrawn it balance that means the company ow the bank' in other words the company had made an overdraft, it is the liability to the company..
A mortgage loan is obtained when one is purchasing a house. In return for using the value of the house as collateral, a mortgage company will provide a loan for the remaining balance.
Yes, you can cancel the card even if there is a balance remaining on it. You contact the credit card company and request the card be cancelled. You will no longer be able to use the card, but you still pay the balance, either in monthly payments or in a lump sum. But you do not have to pay the balance in full when you cancel the card.
What do you understand by "compulsory" and "voluntary" winding up of a company
call the finance company and tell them that you want to do a voluntary repossession and they will take it from there.
You are jointly liable with your other co-signer. The finace company can, and will, come after both of you.
Prepaid Expenses:These are expenses for which company has paid in advance but the benefits has not yet received that's why it is an asset of company and shown under current assets in balance sheetPrepaid Revenues or unearned revenues:These are revenues for which company has already received the payment from clients but services or products has not yet supplied so it is a liability of company and shown under current liability section of balance sheet.
The trial balance of a company is a list of all the accounts (income, expense and balance sheet) with their current balances. A trial balance should always total zero
Voluntary insolvency, also known as voluntary liquidation, is a type o liquidation or bankruptcy that is supported by the members of the Board of the company and is not forced by Chapter 7 bankruptcy.
Very possibly. Contact Blockbuster immediately to try and resolve.
If guess you mean "refinance" when you say "reprocess", the answer is repossession. Loans in DEFAULT are subject to repossession of the collateral and payment of the balance owed by voluntary or legal means.
Prepaid expense is the expense for which payment has already made but the actual benefit has not yet taken by company so it is the asset of company and shown as current asset in balance sheet.
Yes,debenture in the balance sheet because debentures is liability for the company so it comes debit side in balance sheet in the books of the company.