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Debt is an amount of money that has been borrowed and is supposed to be repaid (metaphorically, the term is also sometimes used to refer to other obligations; you saved my life, therefore I owe you a debt of gratitude). A debtor is a person who owes a debt. The person to whom the debtor owes a debt is a lender.
What else can I help you with?
Can debt collectors find out where debtors work?
They can and will.
As depreciation is to fixed assets what is the same analogous to debtors?
Bad debt
What sort of letter do you write to have a slowly paid-off debt removed from your credit report?
The debt will only be removed when it is paid in full. Or when the SOL of the debtors state of residency applies.
Is there a sample letter to notify debtors of bankruptcy?
There are letters that attorneys use to notify creditors of a debtors bankruptcy. This letter states that the individuals have filed bankruptcy and the creditors are to cease all contact and attempts to collect their debt.
How do you prepare the adjusting journal entry to record bad debt expense?
The bad debt is recorded against the asset, which is the debtors control account, or account recievable, for example company A is owed $1000 by company B, during the year, company B approaches company A and states that it is going out of business and can only pay them $600, therefore the bad debt is $400 Credit the debtors account of company b with $400 and debit bad debt expense $400
Why is Georgia called debtors colony?
Georgia is called a debtors colony because it was created for debtors. In England, there were debtors clogging up the prisons. So people in debt where sent to Georgia to work off their debt. People were unable to pay off their debt and that is why Georgia came about. They took debtors out of the prisons and gave them a second chance. It worked and that is where debtors went.
What was the name for a society where debtors were bound to their creditors in servitude?
That system was called debt bondage or debt servitude, where debtors were forced to work for their creditors until the debt was paid off.
Can debt collectors find out where debtors work?
They can and will.
What are the differences between trade debtors and sundry debtors?
sundry means "various". Sundry debtors means various debtors which not only include credit sales, but also include all other debtors(related to financial and other debt). So Trade debtors was part of sundry debtors. ok
As depreciation is to fixed assets what is the same analogous to debtors?
Bad debt
Can 2 people get garnished for the same debt?
If they are co-debtors, then, yes.
Is provision for doubtful debt subtracted from debtors in the balance sheet?
Yes it is.
Who's is responsible for debt when a person dies in Oregon?
The estate or co-debtors.
What is a debtors petition?
The one declaring bankruptcy, or in debt, is the debtor. Any thing they file or claim in the proceeding can be called a petition. Normally it is used to mean something they are asking the court to do. "The debtors petitions the court to discharge their obligation to pay the debts listed...."
Where can I find debt collection software where I can find debtors information and prior collection notices?
You can find debt collection software where you can find debtors information and prior collection notices at www.debtsoftware.com. Another good site is www.collect.org/partners.html
Why were people sent to debtors prison?
people who could not pay a debt to a collector
How long will debtors seek collection of debts?
They won't. The debtor is the one who owes the debt.
