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When using a credit card you are responsible for paying back the original amount of your purchase plus?
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∙ 14y ago
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Wiki User
∙ 14y ago
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Is a cosigner responsible to pay a credit card debt if the credit card limits are increased from what was originally cosigned?
The creditor would likely claim the cosigner is still responsible, but unless it is in the original agreement that such increases are part of the contract the cosigner could make a case for being relieved of the responsibility or only being responsible for the origninally quoted amount.
What is error of original entry?
You enter the wrong amount You confuse debit and credit You debit or credit wrong account?
If you are a cosigner for someone and they default on the payments and the cosigner pays the debt off can you have the past due amount removed from your credit report?
No, you signed, you are equally responsible for the payments, you are also equally responsible for what happens with regard to default. This is why the lender permitted you to sign as a co-securer of the original loan.
What services are provided by a Nationwide Credit Card?
Nationwide Credit Card allows its users to purchase items on their credit cards and then pay for that purchase at a later date. They must pay back the money with interest attached to the amount of money that they put on that credit card.
Can the amount of a past due credit card balance be reduced?
Original creditors will not accept a settlement for less than the amount owed. Collectors who purchase an account will usually be willing to accept an amount for less than the full balance of the account rather than pursue lengthy and expensive litigation procedures.
Are you responsible for your dead spouses credit card debt if you own a house together?
Your dead spouse's estate is responsible for the credit card debt. In practice, this may amount to "you are responsible for it."
What is the source document used for a credit purchase?
The original of tax invoice
Is a cosigner responsible to pay a credit card debt if the credit card limits are increased from what was originally cosigned?
The creditor would likely claim the cosigner is still responsible, but unless it is in the original agreement that such increases are part of the contract the cosigner could make a case for being relieved of the responsibility or only being responsible for the origninally quoted amount.
Is the joint owner on a credit card responsible for the debts?
Answer credit cardfrom past experience with my mother in law, you are responsible for the credit card balance The surviving joint account holder would be responsible for the entire amount owed.Credit Card DebtUnfortunantly you will be responsible for all of it.
What is the Journal entry for gain on sale of equipment?
debit accumulated depreciationdebit cashcredit assetcredit gain on sale of assetDebit to Cash (or Accounts Receivable) for the sale Price. Debit to Accumulated Depreciation for the total amount of depreciation charged against that piece of equipment since its original purchase date. Credit to Equipment account for the original purchase price. Credit to Gain on Sale of Fixed Asset (or Other Income) for the difference needed to balance the entry.
If your father gets an extra credit card for you on his account to purchase items for him can you be held responsible for his debt?
No, unless you are responsible for his account already.
What is error of original entry?
You enter the wrong amount You confuse debit and credit You debit or credit wrong account?
If you are a cosigner for someone and they default on the payments and the cosigner pays the debt off can you have the past due amount removed from your credit report?
No, you signed, you are equally responsible for the payments, you are also equally responsible for what happens with regard to default. This is why the lender permitted you to sign as a co-securer of the original loan.
Is it illegal for a store to set a limit on the amount you must purchase on your credit card?
No, it is not illegal. That is what they do when they find, or suspect, that you have maxed out your credit card.
What are the effects of debit memo or credit memo on invoice for the purpose of collection?
Credit memo basically is raised to discount off the original invoice, so the original invoice amount gets reduced and the customer needs to pay only the reduced amount.
Is it better to purchase on credit or purchasefor cash?
Cash purchases are better because an individual pays the full amount for a good and might be lucky for a discount where as in a credit purchase the individual tends to pay monthly installments and an amount of interest in every installment
Who is responsible to ensure a legal government credit card transaction occurs when making a purchase?
using card holder.
