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The lender can take no actions until they have a judgment against you.

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โˆ™ 2011-09-12 21:27:32
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Q: If one of two signatory debtors has made payment arrangements can the creditor garnish attach or do anything of that nature to the non paying debtor?
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Related Questions

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 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 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 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.

Can a lien be placed against jtwrs property when only one of the owners has a judgment?

The interest of a co-owner can be attached by a creditor. That creditor can then petition the court to partition the land if the debt isn't paid and the debtors interest could be sold.

What is sundry debtor and sundry creditor?

If we provide some services to the vendors they are paying for our services therefore the person who are paying us becomes our sundry debtors.

Does Australia have prisons for debtors?

You cannot go to prison for being in debt in Australia, however you can go to prison for fraud. Fraud must be proven in a court of law by a creditor who writes the suit, which is no easy thing to do. Short answer = No. Australia does not send debtors to jail.

Can heir property be tied up if one of the heirs has a suit against them if property is not divided?

Yes. The creditor may file a petition for partition or the debtors share may be taken by the creditor. In any case, it can slow down the probate process.

Pledge of Stock?

Pledge of Stock(Download)_____________, referred to as OWNER, and _____________, referred to as CREDITOR, agree:OWNER is indebted to CREDITOR in the sum of $______(________________&___/100 dollars); to secure repayment of the debt, OWNER pledges to CREDITOR ______ shares of ______ stock of __________________.OWNER agrees to execute all necessary documents to perfect the pledge.So long as OWNER is indebted to CREDITOR, the CREDITOR shall have the right to vote the shares.CREDITOR shall be entitled to any dividends, and CREDITOR shall credit the debt with the amount of the dividends collected. CREDITOR may optionally reinvest the dividends, and any shares so purchased shall be subject to the pledge.If OWNER is current in the obligation underlying this pledge, CREDITOR will release portions of the pledged stock as follows:$______(_______________&____/100 dollars) per share.A copy or copies of the stock certificate or certificates are attached.Dated: _______________________________________________________________________________________________________Creditor______________________________________________________________OwnerPledge of StockReview ListThis review list is provided to inform you about this document in question and assist you in its preparation. Pledges of stock can be used by creditors to get more collateral from debtors behind in their obligations. This is an interim step that creditors can use to protect their interests without unduly upsetting a debtor. From the debtors point of view, they are usually better off liquidating part of their stock in order to pay the creditor rather than go through all of this. Once the debtor gives up the stock, then the creditor assumes control over its liquidation should the debtor continue to be in default or go into default.1. Make multiple copies. Give one to each signatory. As a creditor, be sure to get the actual stock certificate (s) and get the proper paperwork in order in case you need to liquidate them.

Can a creditor apply bankruptcy for a 7500 amount?

Creditor don't apply for bankruptcy...debtors do. Bankruptcy is not for any particular must be for everything you owe and everything you owe. All of the last is used to pay all of the first, and then any excess MAY be reduced or dissmissed.

What is the difference between trade debtors and sundry debtors?

The difference between trade debtors and sundry debtors is trade debtors are specific debts like credit cards. Sundry debtors are a wide variety of debtors that can be from any source.

What is a creditor?

Creditor is a person from which we purchased goods on credit. It is the liability of company and creditors are shown in liability side of balance sheet.A creditor is a person who is owed money, but not necessarily one who lends money. If you go into your local diner, order a meal and eat it, but then don't pay, the situation becomes clear; the owner is not a money lender, but he is your creditor.If you owe money, then your creditors are all the people you owe. Your debtors are all those that owe money to you.Someone you owe money to

What often happened to debtors in England?

Debtors in England were sent to debtors prison.

Can debtors collect from a deceased's life insurance policy?

I think you mean "creditors," those who are owed money. Debtors are the ones who owe the money. In Texas, the proceeds from life insurance policies are exempt if a dependent is named as the beneficiary. Otherwise, the funds are not exempt. Of course, the creditor must know about the policy to collect from it.

What are the advantages of debtors?

what are the advantages of debtors?

If a creditor gives account to attorney for a judgment-can the creditor freeze the debtors business bank account-or just his personal accountCreditor account in my name only co-signed business acc't?

They can legally freeze anything with your name on it. Also know if they can prove your spouse has a checking account with the same bank you do they can take it too. They don't actually freeze it. They take out the balance and refund whatever is left after all their costs. ONLY IF IT IS A JUDGMENT!!!!!

What are the differences between trade debtors and sundry debtors?

sundry means "various". Sundry debtors means various debtors which not only include credit sales, but also include all other debtors(related to financial and other debt). So Trade debtors was part of sundry debtors. ok

Can a creditor force a debtor into an involuntary chapter 7 bankruptcy?

Yes, involuntary bankruptcy is available under both chapter 7 and chapter 11. However, it is not available against certain types of debtors.

Why was Georgia called a debtors' colony?

Georgia is called a debtors' colony because it was created for debtors.

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?