The lender will get a JUDGEMENT for the balance due and put THAT on your CR. And then use their OTHER legal options.
The car will be sold at auction. Whatever it sells for at auction will be deducted from the balance remaining. The credit company may initially offer to accept a reduced amount on the balance, but, if you're unable to pay that, they will turn it over to collections for the full amount of the balance remaining.
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
The 'balance' of his statement is the monetary value of his account with the credit card company. In this case it is the amount he owes the company.
Accounts payable is a credit balance, because that is how much you owe to another company. Accounts receivable (the amount you will receive from another company) is a debit balance.
When company spend more cash then it actually has will cause credit balance of cash book.
The outstanding balance is very simply the amount of debt that you have charged on the credit card. You owe that amount to the credit card company.
No, they have to offer you the balance transfer.
Building is a fixed asset of company and like all fixed assets building also has debit balance as default balance while all liabilities has credit balance as default balance which is reverse of assets.
Yes divident payable has credit as a normal balance because it is the liability of company to pay to it's shareholders.
A credit card balance transfer happens when on person opens a new credit account in a different company and use it to pay off the debt in his or her old credit card.
Yes. All of the credit cards are reducing credit and it doesn't seem to have any thing to do with the balance. They are just protecting themselves.
Accounts payable is the amount which is payable by company for the merchandise purchased by company but payment is due in future, as it is the liability of company so like all liability accounts it has credit balance as normal balance.