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What else can I help you with?
Can an overdraft become a debt?
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.
What is a Co owner on a checking account?
A Co-owner on a checking account is someone who has full access to the funds. They are able to deposit and withdraw money from the account, write checks on the account and disperse them. A benefit to having a co-owner on an account is the ability for more than a single person to access the account if, god forbid, the other co-owner becomes sick or dies. A huge drawback is that the co-owner may abuse the account and legally be able to use all of the funds. If a married couple becomes separated or divorced it is encouraged they close their joint account and reopen separate ones.
How does a loan account becomes NP account?
WHEN A LOAN ACCOUNT BECOME np ACCOUNT
What is the condition called when the pericardium becomes inflame?
Pericarditis
When a purchase on account is made the invoice becomes?
When a purchase on account is made, the invoice becomes...
When a purchase on account is made does the invoice becomes a debit or credit memo?
A debit to the vendor's subsidiary account.
When a purchase on account is made the invoice becomes debit or credit?
A debit to the vendor's subsidiary account.
When a parent and child have a joint checking and the parent dies does the child receive the money?
Depends how the account was set up (Joint Tentancy with Survivorship Rights, Grantors Trust, under the UGMA, etc.) The generic answer is no, it would not be treated as income. The money in the account would be included in the decedants estate and be distributed through either Trust or Probate as a qualifying gift.
When a customer opens a bank account the bank essentially becomes a?
depository
A customer who opens a savings account at a bank in turn becomes a?
a lender
Can retirement income be garnished in Arizona?
Social Security income has some protections. (But as soon as it is deposited it becomes like any other asset). Qualified Retirement SAVINGS may have some protections (like your IRA account). (But as soon as you withdraw it, it becomes like any other asset). Retirement income, (which sounds like any income that someone who doesn't work wants to call it), wouldn't be anything special.
Who gets the money from a personal account when that person dies?
If the account was in the name of the decedent only, the money in the account becomes part of the decedent's estate which is then distributed according to the will.
