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This makes no sense, unless you already paid the debt. Even if you filed bankruptcy and got a discharge, or the statute of limitataions has run, you, the debtor, can always voluntarily make a payment.
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∙ 16y ago
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Is there a limit to how long a creditor can try to collect a debt in England?
it was that if the creditor had not tried to collect within 7 years it was expired
If a debt is not reaffirmed by a creditor is the debt discharged in a bankruptcy?
The creditor is the lender. The bankrupt is the debtor. The lender never has to re-affirm he wants to get paid back.
Does the creditor have to get a court order each time they levy money out of an account once they took money out the first time?
It depends on the circumstance. If for the same account or debt then no, the creditor has the right to exercise said levy until restitution is made upon that debt. If there are multiple debts with the same creditor, each debt should carry its on legal action unless consolidated by court, or your personal agreement with the creditor.
If a creditor owes you more money than you owe him is he really a creditor?
Yes. No right to offset exists. You would show your debt to him as a liability and his debt to you as an asset. As that asset may (or may not) be used by the court to pay that specific debt, offsetting would be giving preference to that creditor and is not allowed.
Which term is defined as the money you owe to a person business or institution that extended a loan to you?
debt
What is creditor account with debit balances?
A creditor is an entity that a company owes money to, such as debt to a bank or bondholders. If a creditor has a debit balance, it means that your company paid more than they owed. If there was a credit balance, you would owe money on that account.
Can a debt collector sue for debt purchased below dollar value from original creditor in Texas?
If the debt was a secured debt, yes...if it was unsecured, doubtful they will do this unless it's a large sum of money.
If a debt on your credit report says 'bad debt write off ' can the creditor still sue you or collect the money?
= If your credit report reports that you have a bad debt write-off, then it means that the original creditor has written off the debt, but they can still sell the rights to the debt to a collection agency and they can contact you and take legal action.
Obligation to pay to another a certain amount of money which has collateral that the creditor may seize?
secured debt
What describes any kind of money a creditor must accept by law in payment of a monetary debt?
Legal Tender
If a pereson is promised money in a will but the person dies before putting the person in their will can the person still get some money?
Not if the money was meant to be an inheritance or gift to that person. If the deceased promised the money in payment for a debt, and there is a valid contract, the creditor can get the debt from the estate.
What is debt?
Outstanding balance in your loan account or credit card account that remains unpaid beyond the due date. It's the debtor's obligation to repay such dues to the creditor.
