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What else can I help you with?
Is it true that creditors cannot report delinquency as long as you pay at least 10 dollars?
No, this is not true. Creditors and collection agencies have a legal right to report any amount owed regardless of payments being made. It is beneficial, however, to negotiate with a creditor or collection agency in this respect. If you agree to pay a certain amount of money each month, they may hold off on credit reporting. Talking with collection agencies and creditors is always advised. It can eliminate stress and sometimes debt!
What meant by sundry creditors?
When amount from more than one small creditors are join and shown together it is called sundry creditors.
What is the amount owed to creditors called?
liability
Can your benefits be attached by law?
Unemployment benefits can be garnished for spousal or child support and may be reduced by any amount of overpayment of previous unemployment benefits. Creditors cannot attach the benefits, however.
Can the amount of a past due credit card balance be reduced?
Original creditors will not accept a settlement for less than the amount owed. Collectors who purchase an account will usually be willing to accept an amount for less than the full balance of the account rather than pursue lengthy and expensive litigation procedures.
What has reduced the amount of ozone in the atmosphere?
The amount of ozone has reduced. It is due to CFC.
How can I effectively negotiate my medical debt to lower the amount owed?
To effectively negotiate your medical debt and lower the amount owed, you can start by contacting the billing department of the healthcare provider to discuss payment options, ask for a discount, or set up a payment plan. Be prepared to provide information about your financial situation and be persistent in advocating for a reduced amount. It may also be helpful to seek assistance from a medical billing advocate or financial counselor.
Can you explain how debt settlement companies work?
Debt settlement companies negotiate with creditors on behalf of individuals to reduce the amount of debt owed. They typically require clients to make monthly payments into a special account, which is used to settle the debts once a negotiated agreement is reached with the creditors. This process can help individuals pay off their debts for less than the full amount owed, but it can also have negative impacts on credit scores and may not always be successful.
What are the instruments used in settling debts?
Instruments used in settling debts include promissory notes, which are written promises to pay a specified amount, and bills of exchange, which are orders to pay a certain sum to a designated party. Other instruments include loan agreements that outline the terms of repayment and collateral agreements that secure the debt with assets. Additionally, debt settlement agreements can be used to negotiate reduced amounts owed between creditors and debtors.
liquidators has rs.: 2,10,000 to pay to creditors. he is entitled to get 5% remuneration on the amount paid to creditors. in such a situation liquidators remuneration will be?
1000000
A credit to a liability account?
indicates an increase in the amount owed to creditors.
What is Creditors Collection Period?
The creditors' payment period is an activity ratio. It measures the average amount of days the business takes to pay its creditors i.e. suppliers. The more days available to pay the better.
