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What should you do if a detective agency is chasing you regarding a debt you had seven years ago and how can you find out if the original lender has written this off?
Wiki User
∙ 16y ago
please can you tell me if say after 5/7 years is your debt written off
Wiki User
∙ 16y ago
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Is depreciation charged on the original cost or the difference between original cost and salvage value in written down value method?
Under written down balance method depreciation is charged from original value and after that on written down balance until useful life of asset and any amount remaining at the end of useful life is the salvage value.
How can you find out if a debt has been written off?
The term "written off" does not mean the debt has been cancelled/forgiven. The term indicates that the original creditor will no longer continue to collect the debt in the usual manner. The debtor will receive a notice from the original creditor of whatever further action will be taken with the account.
What is the formula for the rate of written down value method?
R=1- n√scrap value/original cost x100
Do collection agencies have to have a written agreement between themselves and the original creditor?
No they don't, usually the OC hires or farm out their accounts that are in collection status to CA's.
What is the difference between book value and written down value?
Book Value: It is the value of item at time of purchase of asset or called original cost. Written down value: it is the depreciated value from time of purchase to current period after providing deprecitiation from purchase time to current period.
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