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If a debt on your credit report says 'bad debt write off ' can the creditor still sue you or collect the money?
= If your credit report reports that you have a bad debt write-off, then it means that the original creditor has written off the debt, but they can still sell the rights to the debt to a collection agency and they can contact you and take legal action.
How is bad debt different from good debt?
Good debt is an investment helps to build credit. Bad debt is the amount that the entity has lost.
What are some pros and cons to debt consolidation?
"Some pros to debt consolidation is that it can help you get your debt under control, and you may only have to make one payment. The con's are that it will look bad on your credit."
Bad debt on a balance sheet?
No, bad debt is an expense and is reflected on the P&L Statement.
How can you get rid of bad credit?
Get a credit card, max it out and put all the money on black. Double your money, keep doing this till you have enough to clear your debt. Easy.
What do you mean buy bed debt?
I think the question should be 'buy bad debt'. You buy bad debts at a deep discount and make money when the debt was actually paid.
What is a bad debt?
A bad debt is a debt which cannot be recovered from the debtor, either because he does not have the money to pay it or because he cannot be found and/or forced to pay.
Why doubtful debt is treated as an asset and Bad debt as an expense?
Doubtful debt is treated as asset because it is reduction in accounts receivable before it happen and at actual bad debt time it is offset against bad debt account. Bad debt is expense because this is the loss which business incurred due to bankruptcy or not receiving money from debtors.
What best describes a bank's Texas Ratio?
Texas Ratio FormulaTo calculate the Texas Ratio, you divide a bank's bad debt on the books by the amount of money it has to absorb the bad debt.
What are your feelings about debt?
In my opinion it's extremely bad. It's very shameful to have debt in most cultures. There's nothing you can actually gain, as you have to earn that money anyway so you can pay back your debt. Why not just save money?
If you buy gm now and they go bankrupt you lose your money?
That's generally what happens when you make a bad investment. Stock is equity...ownership....not debt or a loan to the Company.
If a debt on your credit report says 'bad debt write off ' can the creditor still sue you or collect the money?
= If your credit report reports that you have a bad debt write-off, then it means that the original creditor has written off the debt, but they can still sell the rights to the debt to a collection agency and they can contact you and take legal action.
Is third world debt a good thing or a bad thing and why?
Its funny third world debt is bad because it affects use as it cuts down are money which is hard for use to get the stuff we need x
In English Law What happens to credit card debt after the death of The card holder?
The Debt goes to be paid by his estate, if there is no money to pay the debt it just bad luck for the credit card company.
Is striping bad?
stripping is not bad but im going to tell you this make the money dont let the money make you
Is having debt good or bad?
To be in debt is usually considered bad.
Can someone with bad debt get a payday advance?
Yes, someone with bad debt can get a payday advance. You are required to link the advance to your bank account, in most cases, so the money will be automatically withdrawn from your account on the agreed to date.
