Yes. As long as you don't use your overdraft facility and take money out of that account, it is fine. But, if you happen to withdraw money from the OD account, it becomes the money you owe the bank and you must repay the bank the money you took from your OD account. Therefore it becomes a debt you owe the bank.
It means you owe somebody something. "I am indebted to the bank for more money than I'm worth." or "I'm indebted to you for saving my life; I hope I can repay you someday."
Certainly. If you owe them money and have not met your obligation to repay it they have every right to pursue the debt through the court.
You still owe money.
Yes, you can be sued if you owe money.
Yes. As long as you don't use your overdraft facility and take money out of that account, it is fine. But, if you happen to withdraw money from the OD account, it becomes the money you owe the bank and you must repay the bank the money you took from your OD account. Therefore it becomes a debt you owe the bank.
It means you owe somebody something. "I am indebted to the bank for more money than I'm worth." or "I'm indebted to you for saving my life; I hope I can repay you someday."
Profit is when you increase the amount of money you have at someone else's expense. If you die in debt, then the money that you owe will never be repaid - so in terms of your life, you have made a net profit. You have received money that you will never repay.
yes they do actually
Certainly. If you owe them money and have not met your obligation to repay it they have every right to pursue the debt through the court.
When you owe money to another lender, you are a _____.
When you owe money to another lender, you are a _____.
Both indentured servants and debtors owe a debt in the form of work or money. Indentured servants work off their debt through a contracted period of labor, often in exchange for passage to a new country. Debtors owe money that they have borrowed and must repay according to the terms of the loan agreement.
You still owe money.
Yes, you can be sued if you owe money.
The individual will still be responsible for paying back the money they owe even after serving time in jail. Time served does not fulfill their obligation to repay the victim for the property obtained by false pretense. They may be required to pay restitution as part of their sentence.
1. Repay (a person who has spent or lost money). 2. Repay (a sum of money that has been spent or lost).