They can refuse any payment offer that is different than the amount specified in the contract. And don't think of the statement that they will garnish 30% of your wages as a threat. It's a warning, but they will need to sue you and get a court order to do it.
Negotiated debt settlement is when a creditor agrees to close a debt and consider balance zero by accepting less than the full balance that is owed. Let's say you owe capital one $10,000. You have $3,000 and offer them to consider the remaining balance forgiven. If they accept, you have a negotiated debt settlement.
A creditor will usually accept a lower payoff amount when requested. Usually a lump sum payoff will result in a lower due balance.
Yes, if the creditor chooses to sue the borrower and receives a judgment award the borrower's wages can be garnished. Please be advised, once a lending contract has been defaulted the lender can take whatever action they choose, the fact that they may accept a lower payment then originally agreed on does not mean they cannot pursue a lawsuit.
legal tender.
Legal Tender is a forced tender payment that should be not refused in settlement of a debt. http://en.wikipedia.org/wiki/Legal_tender
You would have to negotiate that with the creditor. Many are willing to accept settlement agreements to have the deficiency paid off.
Maybe, you would have to negotiate with them and see if they are willing to accept a different offer; if they are not interested then the decision stands.
They can refuse any payment offer that is different than the amount specified in the contract. And don't think of the statement that they will garnish 30% of your wages as a threat. It's a warning, but they will need to sue you and get a court order to do it.
Negotiated debt settlement is when a creditor agrees to close a debt and consider balance zero by accepting less than the full balance that is owed. Let's say you owe capital one $10,000. You have $3,000 and offer them to consider the remaining balance forgiven. If they accept, you have a negotiated debt settlement.
A creditor will usually accept a lower payoff amount when requested. Usually a lump sum payoff will result in a lower due balance.
Yes, if the creditor chooses to sue the borrower and receives a judgment award the borrower's wages can be garnished. Please be advised, once a lending contract has been defaulted the lender can take whatever action they choose, the fact that they may accept a lower payment then originally agreed on does not mean they cannot pursue a lawsuit.
legal tender.
Legal tender. In plain English, it's the currency that is in use in a particular country. US dollars in America, Sterling in the UK and Euros in much of Europe for example.A creditor is normally free to accept other forms of payment if he chooses to. The creditor may decide to accept a foreign currency rather than wait for the payment in the legal tender of the country. The creditor is normally not obliged to accept anything other than legal tender.
the failure of creditor to accept proper performancewhen tendered by the debtor
Legal Tender.
Yes, if you have a coupon code for Bose, they will accept it. You just have to use it on or before the expiration date.