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In New Jersey if your spouse's bank account was levied from a New York tax will it reflect on your credit?
Wiki User
∙ 8y ago
Only if you are a party to the levy execution.
Wiki User
∙ 8y ago
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Why is the balance as per bank statement on the bank reconciliation statement a credit if its a favorable balance but in the bank account the credit means you owe the bank money?
The Debit and Credit on a bank statement reflect the Bank's accounting records, not yours. So when you deposit money into your account, the bank owes you that money to you - it is a liability for them, therefore a credit entry. Similarly, if they charge you a bank fee, it reduces their liability to you, so they would Debit your account (on their books) and Credit an Income account.
How long does it take to reflect on your credit report when you pay off an account?
Probably next month, when your next payment would have been due. -Jesse
What is the difference between debit account and credit account?
There are two main differences that stand out between a Debit Account and a Credit Account, those are;A Debit Account always maintains a Debit Balance, meaning the account increases with a Debit to that account and decreases with a Credit to that account. These are generally Asset Accounts.A Credit Account is just the opposite, A Credit Account maintains a Credit Balance, meaning that the account increases with a Credit and decreases with a Debit, these accounts are usually used for Liabilities and Owners Equity (Stockholders Equity).
Does a Credit to a liability account increases or decreases?
It increases the credit account
Is Accumulated depreciation account is an expense account?
No. Accumulated Depreciation is a contra-account which appears on the asset side of the Balance Sheet. It is a credit balance account which reduces the value of Fixed Assets to reflect their declining value due to age and use. The normal offset to an entry to the Accumulated Depreciation account is a debit to Depreciation Expense.
Are both spouses responsible for charges on a joint credit card when separated?
Yes. That's why you shouldn't share an account.
If the primary creditor defaults on credit card will the secondary's credit rating be affected if they're not spouses?
Credit scores are kept separate, unless the account in default is a joint account. However, if you are a co-signer you will be contacted about the debt. If you are unable to pay or cannot negotiate a settlement. It will turn up on your credit report.
Is it illegal to get your spouses credit card number even though your separated?
It might not be illegal to "get" a credit card number but it would be to use it if you're not an authorized user. If you're not on the account then the provider has no obligation to provide you any information about it.
Why is the balance as per bank statement on the bank reconciliation statement a credit if its a favorable balance but in the bank account the credit means you owe the bank money?
The Debit and Credit on a bank statement reflect the Bank's accounting records, not yours. So when you deposit money into your account, the bank owes you that money to you - it is a liability for them, therefore a credit entry. Similarly, if they charge you a bank fee, it reduces their liability to you, so they would Debit your account (on their books) and Credit an Income account.
Why did your credit card payment reflect in your outstanding balance but not show up in your available balance?
Because you may have changed the account to a savings :L
Does Wisconsin garnish a spouses wages to satisfy a credit card debt?
No, Wisconsin will not garnish a spouses wages to satisfy a credit card debt. Credit cards do not generally seek garnishments unless the amount is very large.
How long does it take to reflect on your credit report when you pay off an account?
Probably next month, when your next payment would have been due. -Jesse
Using a dead spouses credit card?
Using a dead person's credit card is a criminal offense.
What is the practical penalty in California for obtaining a spouses credit report for the purpose of monitoring the credit?
Death penalty.
How do i get credit history?
You can get credit history by having a credit card or line of credit. Anything that reports to the credit bureaus that you are paying each month. You can also get some credit accounts added to your credit history by becoming an authorized user on a spouses or family members account. All this doesn't matter if it isn't paid on time, so a credit history length with a good payment history will help your credit score.
Statute of limitation for credit cards in New Jersey?
New Jersey has set the statute of limitations at 6 years. A credit card is an open ended account. That will be from the last communications from the debtor. Please note that the credit card may be based on a different jurisdiction which could be longer! Check your agreement for the applicable jurisdiction.
Is it better to settle 45000 dollars in credit card debt for 18000 dollars or better to pay it off with 0 percent interest for a year?
Assuming you can pay off $45k in 12 months, go with that. It will reflect on your credit report and your FICO better for you if you pay it off rather than settle the account. Unless, of course, the credit card company agrees IN WRITING that they will reflect on your credit report that the account was PAID IN FULL/SATISFACTORY for the $18,000. If that's the case, take the settlement deal and run!!!
