The charging or writing off of a debt is only a required accounting entry by the creditor.
It does not effect you, or change the amount you owe, or that you owe it.
It does not change any of the legal methods to force collection that were available before making the entry. It does not change any of the creditors rights, or change your obligation in it. The debt is NOT forgiven.
All it does is make the creditors accounting statement recognize that an asset (your receivable) that it expected to realize, and already recorded as income, is not going to happen. they are taking the charge to their books for the expense of your not paying, or that it is now considered unlikely you will ay, and the asset does not exist (or in bank terms, is no longer productive). When the charge off occurs depends on many things in accounting parlance...most companies actually establish an account for expected bad debts (an accrual) as a current charge against sales, (expecting some to go bad), and adjust that account on experience...without having to do much on any particular account.
The check rebounds on the sender... And their account gets charged.
That is money you owe someone for services rendered or goods purchased on account.
The simple answer is because it is perfectly legal. Creditors sell defaulted accounts to third party collectors for literally pennies on the dollar. They can then collect the full amount plus interest and penalties until the account is in some way settled or paid in full.
No. once an account is closed, it ceases to exist. It is no longer a valid account that can be used for transactions. So if someone wants to charge you for anything, they cannot use this bank account. Even the bank cannot charge anything on that account.
I believe in Ohio a medical creditor can attempt to collect a bill for 7 years. However, they can hold onto the account as long as they decide.
A managed forex account is one in which someone with financial expertise (a financial planner or manager) trades stocks for an individual so that they do not have to do it themselves. A fee is charged for this service.
It means the original creditor has given up the account and sold it to a collection agency. It does not mean the debtor is relieved of the debt. Someone wants the money and they will get it, somehow.
If someone is 18 or older they are charged as adults. Someone that is younger then 18 can't be charged as adult.
If someone is willing to give their account away, then yes, someone can give you their account.
how do i collect money owed to me from someone in canada
If they passed the check to you in payment AND they KNEW the account was no good they committed "fraud." You should report it to the police, they can be charged with passing bad checks (or whatever the law of your state call it).
You can be charged with murder if there is evidence that you have committed murder - you dont necessarily have to have killed someone - you may be framed. Also, say you are robbing someone and someone is killed in the process, you may be charged with felony murder in it blood?