If it is designated a charge off the debt is still valid and collectible by any means allowed under state law including a lawsuit against the debtor(s).
If the debt is designated as cancelled or forgiven the debt is not collectible. A cancelled debt is considered taxable income, the debtor will receive a 1099-C and the amount stated must be claimed on the person's IRS tax return.
If the creditor writes off interest on the original amount is this taxable?
The coin is still legal tender, but If you mean get more than face value, no. Banks do not "cash in" collectible coins or paper money.
Yes, there write off or charge of, is only for their companies accounting and tax purposes.
If you are still making payments to the bank, then legally it is the property of that bank. If you fail to make the payments, the bank reserves the right to take back their property. Property can usually be returned to the purchaser if the the purchaser can make the payment in full, within a certain amount of time set by the bank.
You may solely own a bank account whenever you turn 18 or are legally able to contract with the bank. Otherwise, your parent or guardian will have to be on the account with you and accept responsibility for the account.
Alliance and Leicester Bank was a UK bank that was legally acquired by Santander in 2010. The branches now carry the name Santander but the international branch still uses the name Alliance and Leicester Bank. This international branch is located in Douglas, Isle of Man.
it is up to the bank to decide. Legally, as little as 1 cent.
The bank can sell the property for any price they can get for it. No one is going to be willing to pay more than it is worth.
When you can legally get your own bank account. I had one at 15. And the checks were legal and binding.
She writes about family, the West Bank, and Jerusalm.
Nothing. Just because a bank is legally entited to reposess a car doesn't mean they have to do so immediately. They can choose to wait and see, and reposess it later if you're still delinquent on the loan.
No. The bank is liable to pay back all our deposit money irrespective of its economic status
No one. It is still Bank of America.
Debit, withdraw, deficit, charge, collectible, settle, etc., D
Of course! The money is still owed to the bank and you cannot legally sell it without satisfying the mortgage.
Yes, Wachovia Bank is still in business and has been since 2009.
legally it is called a "withdrawal" Illegally it is called "robbery"
If someone writes a letter to have an ATM card reissued, it is important to put contact information in the letter to the bank manager. Information for the bank account should also be added.
The joke answer is Ten Dollars. Value as a collectible is zero. If you have the other half, a bank will give you Twenty Dollars for it.
Somerset Savings Bank is still exists. it was not taken over by another bank. Somerset Savings Banks are located in New Jersey.
The Bank of Bonifay is the oldest bank that is still in operation in Florida. It was established in 1906 and is located in Bonifay, FL.
A bank loan write-off is when the customer doesn't pay the loan and the bank writes it off as a bad debt. In a write-off, the bank includes a bad debt as an uncollectible loss on its tax return.
This is legal as long as the person cashing/depositing the check is the payee and it is signed by the owner of the bank account or an authorized signer on the account. It doesn't matter who writes out the check, it matters who signs it.