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In Kentucky how old do you need to be before you cannot be sued for defaulted debt?
Wiki User
∙ 15y ago
There are no laws concerning the age of the debtor that prohibits a creditor lawsuit with the exception of those that relate to minors. An individual under the age of majority for their state of residence (usually 18) cannot legally enter into a financial contract and therefore could not be sued for debt. The exception to this rule is if the minor obtained credit, goods, monies by the use of deliberate fraudulent actions, such as using false indentification/information to procure a credit card.
Wiki User
∙ 15y ago
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Who do you contact to get information on your debt from a Military Enlistment Bonus Recoupment that you defaulted on?
DFAS
How do you know if your lender bought your mortgage as a bad debt?
Perhaps if they bought it after you defaulted or had a history of late or missed payments.Perhaps if they bought it after you defaulted or had a history of late or missed payments.Perhaps if they bought it after you defaulted or had a history of late or missed payments.Perhaps if they bought it after you defaulted or had a history of late or missed payments.
What does the term notice of default mean?
A notice of default is used to notify a borrower that they have defaulted on their debt. To default on a debt means to fail to repay it. So a notice of default reminds the borrower that he has not made a payment on his debt on time.
What is a bad debt?
A bad debt is a debt which cannot be recovered from the debtor, either because he does not have the money to pay it or because he cannot be found and/or forced to pay.
Can a creditor sue you if you are trying to pay them?
It would depend on what the term "trying to pay" means. Once a debt goes into default it is due and payable in full. Any creditor that takes payments on a defaulted debt is doing so outside of the bounds of that contract as a courtesy. So, if the debt in question has been defaulted, then yes, the creditor may sue you and take all remedies available to them under law.
Repo how long will it take to get on credit report?
If your vehicle is already up for repossession, it is already on your credit report as a delinquent or defaulted debt.
What if you paid debt in full and it still there?
The debt will simply be marked as such if it was in default it will remain on the CR for the required seven years. An account that has not been defaulted on will remain indefinitely and show a zero balance when it is paid off.
What has the author John Andrews King written?
John Andrews King has written: 'A case study of a dispute over defaulted debt and appropriation'
If a debt was not listed on chapter 7 4 years ago and it was paid before discharge can the money be recouped?
No you cannot
If you cosigned for your fiance's car loan and she defaulted on the payments can you sue her for the balance of the loan?
Yes, anyone who is owed a debt and can prove that a lending agreement existed between the involved parties has valid grounds for a civil suit. A cosigner would need to prove to the court that he or she paid the remainder of the debt before a judgment would be awarded
What is the statute of limitations when you default on loans and credit cards?
SOL's for debt are determined by the laws of the state in which the debtor resides. In some US states the SOL differs depending upon the type of debt that has been defaulted.
Will a creditor in California prior to a defaulted debt being charged off ever consider settlement of the debt for less ie 1000 for 6000 balance?
== == Yes. A debt can be negotiated, and a discount agreed upon between the two parties. Better to get something than nothing, is the idea for those who are owed the debt.
