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What else can I help you with?
What are debtors?
A debtor is any person, or entity, with outstanding loans owed to a creditor.
What are the classification of debtors?
what are the classifications of debtors? what is the meaning of debtor exceeding 6 months & debtors for the year? how to calculate this?
What percentage of unsecured debt is paid to the debtors involved in a chapter 13 bankruptcy?
The percentage paid to unsecured creditors in a Ch 13 is determined by your disposable income. Secured creditors get paid at 100%, house and car payments remain the same. What's left over gets paid out to those unsecured creditors who file proofs of claim. If a creditor does not file a claim, then that creditor does not get paid.
Can a creditor keep selling the debt to new collection agencies and start the clock ticking again as soon as it gets close to the 7 year limit?
I am assuming you are referring to the debtors CR. In which case the answer is No! The time limit for a debt to be removed from a CR, generally begins six months after the date of last activity on the account.
What you meant by Self balancing system?
when separate ledgers are maintained for trade debtors and trade creditors ,the debit and credit aspect of certain transactions will note appear in the same ledger Eg: in case of credit sales ,the credit aspect (Sales account) will appear in general ledger whereas the debit aspect (personal account of debtor)will appear in debtors ledger .Take another Eg.like cash discount allowed by a creditor .The credit aspect (personal account of the creditor )will appear in creditors ledger .Thus no ledger is self balancing and it is not possible to prepare a separate trial balance for each ledger .Hence in ,in order to make each ledger self -balancing it is necessary that the corresponding debit and credit aspects are fully "adjustment accounts " in each ledger . the adjustment account helps in completing the double entry in each ledger and making it self balancing . The adjustment account opens in various ledgers are; 1 ) general ledger adjustment account(in debtors ledger) 2 ) general ledger adjustment account(in creditors ledger) 3 ) debtors ledger adjustment account (in general ledger) 4 ) creditors ledger adjustment account (in general ledger)
If creditor received a judgment and you make arrangements to pay the bill can the creditor still repo your car?
"debtors" can never repo cars, LENDERS can, even after you make 'arrangements". As long as you are in "default", they can repo.
What are people that owe money called?
A person who is owed money is called a creditor.
What is the definition of debtors and creditors?
Debtors are people who owe money to creditors. Creditors are people who are owed money by debtors. For example, the bank is a creditor allowing people to take out loans and the people taking out the loans are the debtors.
What are debtors?
A debtor is any person, or entity, with outstanding loans owed to a creditor.
What is debtors allowance?
Debtors allowance refers to a reduction in the amount owed by a debtor, often granted by a creditor in response to financial hardship or as part of a negotiated settlement. This allowance may take the form of a discount, forgiveness of part of the debt, or an extension of payment terms. It helps debtors manage their obligations while allowing creditors to recover some of the owed amount. Such arrangements are commonly seen in business transactions and financial negotiations.
What kind of education do you need in order to become a creditor?
None. You only money to loan to debtors.
When does a debtors account have a credit balance?
goods in transit a debtor(customer) could also be a supplier(creditor)
How soon can the creditor garnish the debtors wages after the judgement has been made in court?
within 90 days
What is the moral of the two debtors parable?
The moral of the two debtors parable is that forgiveness should be extended to others regardless of the magnitude of their sins. Just as the creditor in the parable forgave both debtors, we should also be willing to forgive others and show compassion towards them.
What is a possessory lien?
A possessory lien is the right of the creditor to retain possession of his debtors property until his debt has been satisfied.
What is debtors?
A debtor is any person, or entity, with loans owed to a creditor. It is not a crime to fail to pay a debt. Except in certain bankruptcy situations.
Can a country have two set of interest rate one for commercial lending and the other for personal lending and mortgage?
An entity (country, corporation, individual creditor) can lend at rate n1 to certain debtors and at rate n2 to certain other debtors.
