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Can you request a full accounting of an alleged debt against you?
Wiki User
∙ 12y ago
Yes you can and make sure to get the dates when these debts occur and all of the contact numbers so that you can communicate about the matter. Sometimes 3rd parties get there hands on it and may not have complete and accurate info. Keep in mind to be kind because you never know if the debt is accurate and you may need to negotiate a few things down the road.
Wiki User
∙ 12y ago
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Accounting-what is a collateral security?
Lying alongside a debt
Is an accouts receivable account in accounting a debit or a credit balance account?
Accounts receivable has a debt balance as normal accounting balance because it is an asset of company.
Do debt collectors have to send you a written statement validating the debt?
Upon your written request for validation, yes. This is covered under the Fair Debt Collection Practices Act (FDCPA).
How accounting provide relevant data?
Accounting provides the business with data such as debt, growth of the company and the effect of added investment. Accounting data can allow the decision makers in a company to make decisions that will not endanger the financial direction of the company.
What is paid in full as a journal entry for accounting?
"Paid in full" means that the debt has been met. It's settled.
If your credit card debt was sold to another company and that company is suing you can you request to see the original contract agreement?
Yes. Anytime you have doubts about the validity of a debt, you should ask for confirmation. Since this is not the original creditor, they have to by law, give you a full accounting of the debt. The fact that you are being sued, is even more important for you to get the details in writing. The creditor has thirty days from the time they receive your request, to comply. Send your request by registered mail, get and keep the receipt, that's very important.
Accounting-what is a collateral security?
Lying alongside a debt
Why is debt a burden on the treasury?
Treasury debt is a liability in the accounting books. This means they will have to re-pay that debt at some point.
What if the collector ingnores a request to validate the debt?
Without valid debt there can not be liability. In amity.
Accounting where would you put a bad debt entry?
In the Journal Proper
How is bank overdraft a liability?
It's an accounting expression that basically means a debt
What are the accounting journal entry to record the exchange of debt for equipment?
[Debit] Debt Account xxxx [Credit] Asset/Equipment xxxx
What happens if the creditor does not charge off a debt after a chapter 13?
Charge off is an accounting term referring to entries made on the creditors accounting books. His accounting makes no difference to the debtor.
When a debt is charged off will it effect bankruptcy?
"Charged Off" is an accounting term applicable to the accounting for (that is the charging the loss that is being taken against income - reducing income) by the one who gave the credit. As it is entirely something by the creditor, it doesn't effect the debtor (you) or the bankruptcy (or what you actually owe) in anyway.
Can your home be taken for debt owed?
If it is a debt against the house.
What if activity is reported and date changed to a previous date?
Write the creditor or reporter of the information and request verification of the debt, including the date of last activity. Ask for a detailed accounting of how that date was established. If you can establish another previous date, the reporting company would have to change it. But, note that you might be acknowledging the debt...and this could have its' own repercussions.
In what situations can a credit card company force you to sell your home in Wisconsin?
If you have made a debt to them and you are not able to satify the debt they request the court take your property to repay the debt.
