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Obligation to pay to another a certain amount of money which has collateral that the creditor may seize?
secured debt
What is different about a secured loan application?
A secured loan application is different because the person who takes out the secured loan pledges an asset. An asset must be something of value such as a home or car. They then use that as the collateral, so that way if one does not pay the secured loan the creditor takes possession of the asset.
Can a secured credit card raise your credit score?
Yes it can. A secured credit card is for people who is trying to rebuild their credit or has been denied credit in the past. Most of the time a secure credit card is money that you set aside to give to the creditor as collateral which is $300. Then once approve which is most of the time, the creditor will give you a secured credit card in which you try to use it and pay either the minimum due or the entire balance. If you do not pay any balance, the company that has your collateral will keep the $300.
You are being sued in small claims court by a third party debt collector can you contact the original creditor and pay them?
No, the original creditor has sold the debt and is no longer involved in the collection process.
Can you pay a debt to collector after a judgment?
You can pay the judgement, which will pay the creditor. Or, you can request to pay the creditor directly and negotiate for the judgement to be vacated (removed).
What makes a secured creditor a secured creditor?
A secured creditor is one who has a contract with you that says if you fail to pay, the creditor can take a specified item you own to satisfy the debt. Most common are purchase-money loans, such as mortgages or car loans, but it can be any item.
Obligation to pay to another a certain amount of money which has collateral that the creditor may seize?
secured debt
Can you sue a ex boyfriend for a loan you secured for him to pay his bills if you have all the statements and canceled checks that paid the bills after the loan was secured?
if u have that much info, then you should at least try.
What if the creditor sells the car anyway while automatic stay is in effect?
In a Chapter 7 bankruptcy, a secured creditor has the right to repossess any secured property and sell it. However, if the car does not bring enough at the sale to pay off the entire loan and cost of repo, the automatic stay prohibits the creditor from pursuing this deficiency balance.
What is different about a secured loan application?
A secured loan application is different because the person who takes out the secured loan pledges an asset. An asset must be something of value such as a home or car. They then use that as the collateral, so that way if one does not pay the secured loan the creditor takes possession of the asset.
Can a secured debt be taken from you after it was discarged in a chapter 7?
In most Chapter 7 cases you are not including secured property unless you are surrendering the property back to the creditor. If you are holding on to secured property during a chapter 7 process the property must be reaffirmed with the creditor at time of filing meaning you have an agreement with the creditor to leave the property out of the bankruptcy and continue to make your payments. When you discharge debt through chapter 7 it doesn't make sense that you could keep a secured piece of property and not pay for it. Maybe you were unclear about what you were really doing.
Can a secured credit card raise your credit score?
Yes it can. A secured credit card is for people who is trying to rebuild their credit or has been denied credit in the past. Most of the time a secure credit card is money that you set aside to give to the creditor as collateral which is $300. Then once approve which is most of the time, the creditor will give you a secured credit card in which you try to use it and pay either the minimum due or the entire balance. If you do not pay any balance, the company that has your collateral will keep the $300.
You are being sued in small claims court by a third party debt collector can you contact the original creditor and pay them?
No, the original creditor has sold the debt and is no longer involved in the collection process.
Make a simple sentence using the word creditor?
I owned a creditor.The creditor called me. A company you owe money to is called a creditor.
How does a creditor do a motion of stay to be added to an individual bankruptcy?
All creditors are given notice of whenever a BK is filed. They have the option of filing to block the Bk proceedure for any debt owed them if they believe the debtor is able to pay. Usually this is done by a secured creditor.
How do you pay off a court judgment from a credit card company - pay the court or the lawyer for the creditor or the creditor directly?
You pay the organization/creditor to whom the judgment was granted.
Can you pay a debt to collector after a judgment?
You can pay the judgement, which will pay the creditor. Or, you can request to pay the creditor directly and negotiate for the judgement to be vacated (removed).
