0
Can a company demand payment on an account that has already been stated on your credit report as a charge-off?
Of course. Charge off is simply an accounting term. It is a shortened version of "chraged off to profit and loss". Companies will frequently charge off debts to clear their books. It has no bearing on a consumers' liability. If you did not pay the debt, you still owe, regardless of what it is called. For a consumer, charge off = collection account.
What else can I help you with?
What is an account receivable?
account receivables reflects those amount which the company has sold and payment for that sold items has not yet recieved so that amount will be booked as account recievables
Which accounts are affected when the company provides services to a cash customer?
When a company provides services to a cash customer, the cash account increases due to the receipt of payment, while the service revenue account also increases, reflecting the income generated from the service. This transaction is recorded as a debit to the cash account and a credit to the service revenue account in the company's financial records. Additionally, there is no impact on accounts receivable, as the payment is received immediately.
How do you remove payment from suspense account to customers account?
payment in suspense to customers account as receivable account
What is the definition of the term 'charge off'?
The term "charge off" is used when a company or creditor clears a persons account due to lack of payment at loss to the company. No further charges can be applied to the account.
What happens when cash is received in payment of an account?
Received cash from a customer as payment on account
Will having a payment plan with a collection agency greatly reduce your credit score?
No. Once a person is being threatened by a collection agency, there is a high liklihood that the damage to the credit report is already done - a chargeoff or collections transline will already be in your credit report. Having a payment plan merely gets the debt paid and on-time payments are usually NOT reported (however, if you miss a payment, that company can and will send a negative tradeline to further damage your credit reputation).
Why is my credit card payment not showing as paid even though I have already made the payment?
There could be a delay in processing your payment. It may take a few days for the payment to be reflected in your account. Contact your credit card company to confirm the payment was received and to inquire about the status of your payment.
Can a stop payment be issued on a check that has already been paid from an account?
No. It has already been paid.
Can you pay a debt to the original company once it has gone to collection?
The only person that can accept payment once an account has been charged off is the purchasing agent. When a collection agency purchases your debt, they purchase all legal rights to it, including any payments made towards the account. If you were to pay the original creditor after a chargeoff, they are required to forward that payment to the purchasing agency and this can be a rather lengthy process. Understand that many debts that go to collections are interest bearing and the longer a payment takes to get to the correct party, the more you may be paying in the end.
How can I make an online payment?
To make an online payment, you typically need to visit the website of the company or service you want to pay, log in to your account, navigate to the payment section, enter your payment information such as credit card details or bank account information, and confirm the payment.
Can capital one sue me for non-payment?
Capital One can sue someone for non-payment of their account. It is very unlikely that you will be sued by the company.
What is the payment of damages by the insurance company directly to the insured?
Payment of damages by the insurance company against your Householders' policy is paid directly to your account through NEFT,instead of cheque as was customary earlier.
Why should a company open a business savings account?
A company open a business savings account because it makes transaction and payment much easier. You can read more at www.citibank.com/savings
What is the account entry should do for a car company which is installment?
The account entry that you should do for a car company, if it's an installment payment, is a debit. This means that you have paid the bill and you deducting it from your bank balance.
What is an account receivable?
account receivables reflects those amount which the company has sold and payment for that sold items has not yet recieved so that amount will be booked as account recievables
Which accounts are affected when the company provides services to a cash customer?
When a company provides services to a cash customer, the cash account increases due to the receipt of payment, while the service revenue account also increases, reflecting the income generated from the service. This transaction is recorded as a debit to the cash account and a credit to the service revenue account in the company's financial records. Additionally, there is no impact on accounts receivable, as the payment is received immediately.
How do you remove payment from suspense account to customers account?
payment in suspense to customers account as receivable account
