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this is were you agree to pay the debt that you originally signed with the creditior this usually happens when someone is filling bankruptcy.
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∙ 12y ago
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Will disputing a old debt on your credit report restart the statute of limitations in NY?
No, only making a payment, promising to make a payment, or providing a letter of reaffirmation of the debt can reset the statue of limitations.
What is a debt that is subtracted from the balance of your account?
Account payeable
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 a debt that will be subtracted from the balance of your account?
Account payeable
In Colorado who can levy bank account?
In Colorado it is possible for a debt collector to levy a bank account. It is necessary for the approval from a court in order for a debt collector to place a levy on the bank account.
What is a Reaffirmation agreement in chapter 7 bankruptcy?
A reaffirmation agreement is an agreement between the debtor and the lender that the underlying debt with not be discharged in bankruptcy. The debtor will remain personally liable for repaying the debt even after the bankruptcy.
What is certificate of an ongoing debt In relation to Bankruptcy petition.?
This is not a term used in US bankruptcy courts. In a Chapter 7, when a secured debt is to continue as a debt, the debtor must file a Statement of Intention with regard to secured debt and may also have to sign a Reaffirmation Agreement which the lender files with the court. Many court require a hearing to determine if the reaffirmation will defeat the purpose of the bankruptcy.
If you call a credit card co and ask when you made your last payment to find out if the statute of lmitations has passed is that reaffirming the debt?
No. Reaffirmation only applies when ANY money is paid on the debt owed.
Will disputing a old debt on your credit report restart the statute of limitations in NY?
No, only making a payment, promising to make a payment, or providing a letter of reaffirmation of the debt can reset the statue of limitations.
Can you reaffirm unsecured debts when filing a chapter 13?
No. Reaffirmation of debt is an option only in Chapter 7. Your unsecured creditors are paid according to your plan in chapter 13. Five requirements exist under the Bankruptcy Code in order to determine whether a reaffirmation agreement is valid: 1. The reaffirmation agreement must be entered into prior to discharge and it must then be filed with the court; 2. The agreement has to state that the debtor has the right to rescind the agreement either within 60 days after it�s filed or prior to discharge (whichever comes later); 3. If the debtor is represented by an attorney, the attorney has to sign and provide an affidavit verifying that the agreement is voluntary and does not impose an undue hardship on the debtor; 4. The debtor did not rescind the agreement within the required time; 5. That the agreement complies with the requirements of �524(c); and 6. If the debtor is not represented by counsel then the court will approve the reaffirmation agreement if no undue hardship is imposed and the reaffirmation is in the best interest of the unless it�s a consumer debt that�s secured by real property. Reaffirmation agreements are usually signed when the debtor wants to keep property that is security for a loan such as a house or car. It would be very unlikely for a court to approve the reaffirmation of an unsecured debt. However, there is nothing to prevent you from voluntarily paying the debt despite the discharge of the debt.
Can a creditor add attorneys fees to an existing loan if it has been reaffirmed during bankruptcy?
Usually the debt is reaffirmed under the same terms and conditions as originally agreed. Most of those allow attorney's fees to be added, along with costs. If the original agreement did not allow those expenses, they are not allowed in the reaffirmation unless the reaffirmation agreement allows them. Did you not read your reaffirmation agreement before you signed it? Do you even have the original agreement?
What is a debt that is subtracted from the balance of your account?
Account payeable
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.
Can a debt collector pull funds out of a joint account if the person holding the debt is not the primary account holder?
yes. i had it happen to me
How can you reaffirm a mortgage that was mistakenly included in a Chap 7 after the bk has been discharged?
You would need to re-open your bk case and hope the court will allow the entry of debt reaffirmation.
What is a debt that will be subtracted from the balance of your account?
Account payeable
Is bad debt expense account and allowance for uncollectible account is same account?
Bad debt expense account is the actual expense account for bad debts while allowance for doubtful account is the provision for account in case of any bad debts occurs in future.
