0
Do California SOL's for debt apply when the debtor has relocated to the United Kingdom?
Wiki User
∙ 18y ago
No. This is the statute of limitations is an issue where consumers need to become well informed. Several state SOL's do not apply if the debtor leaves the U.S., the state itself or commits an act that can be deemed fraudulen. Fraudlent meaning the use of false or misleading information of any sort to deny the creditor the right at an attempt to recover monies owed. It is a myth that someone can "hide out" until the SOL expires and thereby become debt free. This is a ploy used by unethical companies claiming to have the ability to erase debts or "fix" credit reports. A judge can rule an SOL invalid if there is evidence that the debtor(s) committed a deliberate act of fraud as defined by the state laws or in some cases the UCC. In addition, an SOL argument is only valid if it is brought forth as a defense by the debtor. It is not an automatic cancellation of debt obligations. SOL's only pertain to the amount of time in which the creditor can file litigtion to recover monies owed.
Wiki User
∙ 18y ago
Add your answer:
Earn +20 pts
What Banks will open a debtor in possession account?
Union Bank of California
Which states are closed to California debt collectors?
None. A creditor can continue collection actions (including a lawsuit) against a debtor regardless of where the creditor is located or the debtor resides.
Can an illegal immigrant file for bankruptcy in the state of California?
An illegal immigrant can file for bankruptcy in California. The federal bankruptcy code does not limit the filing of a bankruptcy to U.S. citizens or legal permanent residents. The bankruptcy code allows a debtor to be a "person that resides or has a domicile, a place of business, or property in the United States, or a municipality, may be a debtor under this title."Whether it is advisable to file for bankruptcy, will depend on the particular circumstances of that individual.
Is the united kingdom a debtor or donor nation?
We're a donor country ! Despite the UK being in deep recession - apparently our government says we still have BILLIONS of pounds of surplus cash to throw away at 'needy' countries and the EU !
Can a credit card company put a lien on jointly owned property when only one person is the named debtor in California?
yes. as long as the debtor holds interest in the property at the time.
Can creditors call you at work in California?
Yes, but after the initial contact the debtor can request not to be contacted at his or her place of business. If the creditor/collector continues to contact the debtor at their place of employment they are breaking FDPA laws and should be reported.
Is Mexico a debtor nation or a donor nation?
In terms of debtor/creditor status (meaning giving or owing money, borrowed to finance development initiatives), Mexico is one of the largest debtors in the world, owing to several countries including the United States, Spain, France, the United Kingdom and Japan. Current Mexican external debt is around US$353 billion (2012). In terms of debtor/donor status (meaning funding or receiving money for international aid initiatives) Mexico is a debtor nation too, but it receives only US$500 million per year (2013) which is very little for a country with 120 million inhabitants. For comparison purposes, Egypt (population 90 million) received US$5,505 million in development aid during the same year.
Is a lien by a creditor placed on the debtor or the debtor's attorney?
The creditor will execute the judgment against the debtor's non exempt assets or property not the debtor's legal counsel. On the debtor.
Can a credit card company put lien on your property in California?
Yes, if the lender sues the debtor and receives a judgment award, the judgment can be executed against personal or real property owned by the judgment debtor.
What is bankruptcy code 703?
I believe you are referring to local California statute CCCP §703, which refers to California's local exemption rules for bankruptcy. In short, California allows a debtor to exempt up to $3,300 for a single automobile and, more importantly, up to $20,825 in personal property as long the debtor owns no real estate with equity, or if the debtor intends on giving up any real estate with equity up in the bankruptcy. The $20,825 "wildcard" exemption may be used to protect money in bank accounts, CDs, rare coin collections, even timeshares. As long as the total value of property to be exempted is less than $20,825, the debtor should be allowed to keep said property through bankruptcy.
Who is debtor?
A debtor is someone who owes money to you.
What does debtor mean?
A debtor owes money.
