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It will vary depending on where you live. In the US it varies by state and ranges from 2 to 8 years. And as long as you are making payments, the time frame does not start being counted.
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What does being held accountable mean?
Being held accountable for something or some action means that you are responsible for that thing or action. If you are held accountable for, for example, unlocking the doors at the beginning of the day, it is your job to see that they are unlocked. If they are not unlocked at the designated time, it will be considered your fault and you may get a negative response from your employer.
Are you responsible for fraudulent credit card charges?
As a general rule, . The federal government mandates that you can be held liable for only $50 of unauthorized charges, and many credit card companies even waive that. This is if the credit cards were stolen. What may be the sticky point
Can a credit card company hold an authorizes card user responsible for a business account?
Possibly. If the business refuses to authorize the charges, the card user could be held responsible. If the card user signed an agreement of accountability, he will definitely be held responsible. Your best course of action is to try to work with the business who contracted the card to resolve this.
When you sell an asset at a price higher than the original cost of asset how is it treated in the books?
If it's a fixed asset, it's treated as a gain. The amount of gain is booked in the "Gain on Sale of Assets" revenue account (or something similar). The typical entry would be: Debit Cash (or Accounts Receivable) Credit Fixed Assets (or whatever account held the asset you're selling) Debit Accumulated Depreciation (if your asset had any A/D) Credit Gain on Sale If you're talking about selling inventory, that's a different matter.
If you have perfect credit what will happen if you dispute charges on a credit card and the company wants you to pay them and sends it to collections?
A collection account is a significant derogatory item on your credit report. Any late payments, collection accounts, or legal items on a consumer's credit report cause deductions in their credit score. It would be in your best interests to read your card holder agreement, specifically sections pertaining to disputes. Many companies allow a dispute process, but if such a dispute is not resolved, you may have liability on the debt. The exact terms would be laid in that agreement. The agreement/contract is what you will be held to.
In NJ Can your husband be held responsible for your credit card debit that was incurred before you were married?
no
Does online booking for a hotel need any credit card?
In general, booking a hotel will require a credit card. Debit cards may be used, but a large amount may be held.
Who is responsible for a dependent's credit card debt?
The dependent's estate is required to resolve all debts. If there are co-signers on the credit card, they may be held accountable. If there are not enough assets to pay off the debts, they are not resolved.
Can a child with power of attorney be held responsible for opening a credit card and amounting debt in parents name?
Yes, they can be held accountable. Any actions must be to the benefit of the principle.
Do car rental agencies accept secured credit cards?
Yes, Car Rental Companies accept Secured Credit Cards. There are two types of cards. "Secured" and "Prepaid". Prepaid cards will be accepted at rental companies (or will be treated like a debit card). SECURE cards on the other hand are not like a credit card. The rental company has no way of knowing rather the card is secured or not.All secured cards say "debit", and have a Visa, Mastercard logo, etc. However, as with any credit card (secured or su-secured), they will take a deposit out on the card that covers the rental fee for your expected term. This will not be "charged", but "held" to your card until you return it, at such a time you can choose to authorize the payment to go through or pay the balance with a debit card, allowing the hold on the credit card to release.
My wife has been using a credit card of her deceased fathers credit I also used the card but did not know it was on his credit can i be held responsible for credit card fraud?
Yes!
What sort of information could be held on smart card?
- Used to store data on debit,credit, loyalty,phone and other cards. - Used in financial transactions and saves the user from carrying cash.
What does accountabillty mean?
Accountability means that you can be held accountable for your actions. People know that you will except the blame or the credit for something that you did.
Where is the ATM PIN located on a debit card?
The PIN is not held on the card ! It is stored (in encrypted form) on the computer system of the bank where the customer has the account !
If your spouse dies do you need to pay off their credit card debt if the accounts were only in their name and there is no estate?
Only if it's a jointly held account. Otherwise, a person's credit card debt dies with him. * One exception might be a surviving spouse where the couple lived in a community property state. He or she is sometimes held accountable for debts made by the deceased spouse depending upon the circumstances under which the debt was incurred.
What happens to the co-signers credit if the owner of the vehicle doesn't pay?
As the co-signer, you have vouched for the loan and can be held accountable for the balance.
What are the differences between debit and credit cards?
Credit. Every time you use a credit card, you are actually borrowing money that is made available to you by a bank or other financial institution. The institution pays the debt to the vendor, and in turn, you pay the money back to the institution. By signing up for a credit card, you agree to pay back the money that you borrowed, in addition to any interest drawn on the amount you borrowed. Debit. Issued by your bank, debit cards take funds directly from the money that you have in your bank account--in a sense acting like a check, just faster. With a debit card, you don't have to carry cash or checks, and it is very convenient to shop at a variety of places including gas stations, grocery stores, restaurants, and retail stores. They provide instant access to your money and are accepted worldwide. Debit. instant access to your money, lack of a PIN number, and not having to drag out your photo ID when you use it--make fraud that much easier. Unless reported quickly, theft of your debit card can quickly devastate your bank account. Credit card companies are held to strict liability laws; the law limits consumer liability for credit card fraud to $50. For example if you notice suspicious charges on your credit card statement such as double billing or an incorrect charge, the credit card company is obligated to investigate if you send in a written request within 60 days.
