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A promise or obligation to pay to another a certain amount of money which has no collateral?
unsecured debt
What is a bank mortgage?
It is a security agreement used as eveidence of debt secured by real property and a promise to repay the debt at certain terms agreed to by both the lender and borrower.
What can happen to your debt after your car is repossessed?
Your debt is then written off as the car covers the cost of the debt.
What's a partnership when debt incurred before the date of his admission comes due?
What's partnership when debt incurred before the date of his admission comes due?
Can debt collectors who buy a debt from another debt collector change the open date to make the debt look newer?
The is YES they can, but! They are not supposed to. Unless you effectively complain and point out to the Credit Bureaus what the debt collector is doing, they will get away with it. Additionally, the same debt "cannot" legitimately be reported with an "outstanding" balance more than once on your credit report. For example, lets say that a debt has been bought and sold three different times. The debt cannot be listed as due and owing by the original creditor and the three subsequent debt buyers. You must remain ever vigilant in keeping your Credit Reports clean. It is illegal for debt collectors to change the date of last activity in order to keep negative records on your credit report longer. The original debt that was charged off as well as all related collection records must be removed exactly 7 years after the date of last activity. The date of last activity is the charge-off date, which is the date that the debt became 6 months delinquent.
Definition of primary promise?
promise to pay another's debt that is not conditioned upon the other person's failure to pay promise to pay another's debt that is not conditioned upon the other person's failure to pay
A promise to pay someone else's debt is called what?
Foolish
What is the Statute of Limitation period for a credit card debt in Ontario?
For a written agreement; which involves a credit card debt is 4 yours from the date of last activity or last payment. Once this expires, the debtor can no longer collect on this debt, or sue you for this debt.
What is the meaning of A promise made is a debt unpaid?
When you make a promise to someone, it is equivalent to you taking a debt from that person. And the debt is paid back, only when the promise is fulfilled. So think before making a promise. The quote itself is from Robert W. Service's poem, "The Cremation of Sam McGee." If perchance you have never read that poem, you must find it (it's out there on the Internet) and read it. Read it aloud, to your friends, at night.
How do you use misery in a sentence?
The promise of relief from misery of overwhelming debt.
What is indemnity?
an unconditional promise to completely assume another person's debt
What is the total account debt as of the statement date called?
The total account debt as of the statement date is called the balance.
What is meant by a pledge?
A pledge is a promise or a agreement to do something. It also can be a payment of debt.
Can someone add a debt onto their bankruptcy even though the debt occurred after they had filed for Chapter 7?
No, this is considered a post-petition debt. It would not be covered by the bankruptcy, you would legally owe this debt. Bankruptcy only covers charges up to the filing date. Not the meeting date,not the discharge date and not the closing date.
A promise or obligation to pay to another a certain amount of money which has no collateral?
unsecured debt
What are the risks involved with having unsecured debts?
Unsecured debts are like making promises to each other about paying the debt, bu there is no written guarantee that it will be paid on the due date or the deadline. It is all about trusting the person who got the debt that they will pay their debt afterwards.
What is the statute of limitation in Minnesota for debt?
The length of time in all states of the US for a creditor to collect on a debt is seven years from the date of last payment, OR in the event a judgment has been obtained the creditor has ten years from the date of judgment or last payment, which ever is later.
