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If the debt is contractually valid, and you are not disputing the debt, it will be based on the initial contract, and the Statuate of Limitations (SOL). Each state may vary on the SOL. In addition, some Medical Providers (original creditor:e.g., hospital, physician, etc) and individual States, have specific guidelines on the collection of medical debt. Reporting on credit history may be for 7 years, again based on the Medical Provider, and the state's guidelines.
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What is net new borrowing as it relates to determining the cash flow to creditors?
Net new borrowing is the difference of the long-term debt on the balance sheet. Cash flow to creditors = Interest paid - difference of the long-term debt
Can creditors garnish wages on a secured debt?
The long and short of it is--Yes. You signed a promissory note--you promised to pay and you haven't.
If attempting to pay a debt can a person still be taken to court?
If you are attempting to a pay a debt, a person can still take you to court under certain conditions. As long as you are attempting to make payments, most creditors will work with you.
How long can a debt collector come after you in the state of Oregon?
A debt collector can come after you until the debt is satisfied. However, most will to persist beyond 3 years and few will persist after 7.
What is the statute on medical debt collections in Florida?
In Florida that would be a fairly long 5 years. Medical debts are normally documented in writing. That gives them a fairly long period of time in which to collect. And it will be measured from the last acknowledgment of the debt, payment or letter from the person who owes.
When do creditors stop sending the repo man?
Until you satisfy the debt you owe against the collateral. As long as you own the collateral and don't pay, they'll continue to attempt to repossess it.
How long can a collection agency come after you for 70 dollars?
Until you pay your debt
What is the Statute of limitations on medical debt in Illinois?
In Illinois that would be 10 years. Medical debts are normally documented in writing. That gives them a fairly long period of time in which to collect. And it will be measured from the last acknowledgment of the debt, payment or letter from the person who owes.
Statute of limitations for medical debt in Wyoming?
In Wyoming that would be 10 years. Medical debts are normally documented in writing. That gives them a fairly long period of time in which to collect. And it will be measured from the last acknowledgment of the debt, payment or letter from the person who owes.
What is the SOL on medical debt in Ohio?
In Ohio they have set it at 15 years! That is the longest in the US. Medical debts are normally documented in writing. That gives them a fairly long period of time in which to collect. And it will be measured from the last acknowledgment of the debt, payment or letter from the person who owes.
Do you have to be behind on payments to your creditors to file bankruptcy?
No. You can file any time. You actually don't even have to have any debt to file. Anyone can file anytime as long as you meet the minimum reqirements for each chapter.
How long is the statute of limitations for medical bills in Pennsylvania?
That would be four years in Pennsylvania. The time runs from the last acknowledgement of the debt.
