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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.

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20y ago

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If you paid your debt and they credited the full amount back to your account 7 days later are you still liable for this debt?

Whoever you paid the debt to must have not had the account with them, therefore they returned the payment. So to answer your question, yes you are still liable until there is a zero balance on the debt you owe.


What is paid in full as a journal entry for accounting?

"Paid in full" means that the debt has been met. It's settled.


After a debt is reduced by a collector is it settled?

If the full settlement amount offered is paid in full by the debtor, the debt is considered paid. When entering into a settlement of a debt the debtor should obtain all the pertinent data in writing and not agree to anything unless he or she understands the agreement in full.


Can a company put a lien on your property if the debt is paid in full?

Not legally.


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.


If can prove you paid your debt can you still go to jail?

Get a lawyer. Fast. If you paid, you shouldn't have to go to jail.


What happens to bad check charges after the debt is paid in full in NJ?

it gets banked


Will you have to pay the full amount?

Creditors trying to get you to pay the full amount of a loan. That they paid pennies or a dollar for. What law can, I use to pay the amount. The debt collector paid to get the loan.


If you write Account paid in full on a check doesn?

Writing account paid in full on a check is a statement that could hold up in the court of law stating a debt is paid. Be careful when writing this as it can be attributed to fact.


Is an unsecured non priority still a debt owed?

It is owed until it is discharged in bankruptcy or paid, either in full or as a settlement. Technically, the debt is owed after discharge in bankruptcy, but the creditor or its agents and successors in interest are permanently enjoined from any collection activities.


If you request a voluntary dismissal can a debt listed in the bankruptcy still be paid off?

Yes.


How long can wages be garnished in Massachusetts?

Basically, until the debt is paid. In some U.S. states the garnishment order must be renewed after a specific time, in most an writ of garnishment will continue in the debt is paid in full.