0
If you make minimum payments on a credit debt and the statute runs out after four years the remaining amount gets written of as bad debt and you don't have to pay it anymore?
Wiki User
∙ 15y ago
if you are making payment ever payment you make restarts that statute. It would have to be four or five years from the time of default to the statute to run out.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
If you settle for less amount on back taxes with the IRS can you still make payments?
If you make an Offer in Compromise with the IRS, there are generally three options: 1. Cash Offer: Pay 20% up front when you submit the Offer. The remaining must be paid within five months of written acceptance. 2. Short Term Deferred Offer: You make monthly payments for 24 months of the amount you offer. Note that you must make the first monthly payment when you submit the offer, and you must continue making monthly payments while the IRS is considering the offer. If the IRS rejects your offer, they keep the money and it is applied towards what you owe. 3. Long Term Deferred Offer: You make monthly payments for however long is remaining on the 10 year statute of limitations. Note that the option you choose will change your settlement, because the IRS calculates each one slightly different. The cash offer will be the lowest settlement.
What is the statute of limitations on a credit card debt Arizona?
The SOL starts on the last date of activity on the credit card. So, don't make any payments or you will restart the SOL. In Arizona, the SOL is 6 yrs on credit cards.
Statute of limitations colorado?
The statute of limitations for civil cases in Colorado is two years.
Is there a statute of limitations on California collecting income taxes that are owed?
There is a statute of limitations on assessing income taxes, but once the taxes have been assessed there is no statute of limitations on collecting them.
Are workmanscomp benefits taxable?
If an employee is injured on the job, he or she may be eligible to receive worker's compensation benefits. These benefits are not taxable if they are paid under a state or federal worker's compensation statute. No exclusion is available if the payments are for nonwork connected disabilities or if the amount of the payment is based on age or service.
What is the statute of limitations for minimum wage?
There is no statute of limitations of the minimum wage. If there was it would be very unusual.
What is a long-arm statue?
A "Long arm statute"is a state statute that permits a state to obtain personal jurisdicition over nonresident defendants. A defendant must have "minimum contacts" with that state for the statute to apply.
Is there a statute of limitations for child support payments prior to the July 1997 law in GA?
Georgia law decreed all child support payments after or on July 1, 1997 have no statute of limitations. Any case before that is terminated when a child turns 18 years old.
What is the statute of limitations for breach of written contract in Arkansas?
Arkansas's statute of limitations on a written contract is 5 years. Payments toll the statute of limitations. And be aware that the state law that applies could be different based on the actual contract language.
How long can a debt be collected by a debt agency in Wisconsin?
The statute of limitations starts on the date of the last activity on the account. So, making any payments at all restarts the statute of limitations period. In Wisconsin, the statute of limitations is 6 years. After that, they cannot collect.
What is the Minnesota minimum wage and the federal minimum wage?
As of July 2010, federal minimum wage is $7.25 and Minnesota minimum wage is the same because federal law prevails. However, by statute, the minimum wage in Minnesota is $5.25 or $6.15 depending on annual sales.
Do you have to sue in the state the crime took place assuming do not live there anymore but the statute of limitations has not expired?
In most cases, yes.
Is a fixed penalty binding in law?
If a statute imposes a mandatory minimum sentence of incarceration, then yes, it is "binding" meaning a judge cannot impose a sentence less than that minimum.
Does a federal district court judge have the authority to sentence less than the mandatory minimum in a felony drug case for a 1st time offender?
No. A "mandatory" minimum is exactly what its name implies. The judge has no discretion and MUST impose the minimum set by the statute.
How much time you do on an seven year sentence in Illinois?
Seven years. This is likely the minimum. Check your paperwork or state statute for the maximum.
What is the Statute of Limitations on an unpaid car loan in California?
I believe that when the car is turned in and the remaining balance is owed the month of last activity would start the running of the statute of limitations. However in California I believe it is 4 years from the date they say you owe them money.
What is the statute of limitations for remaining balance on a reposessed vehicle?
That would be a civil debt collection action. it will vary from state to state and could be as long as ten years..
