0
What else can I help you with?
What does it mean for credit balance of a debtors?
A credit balance of a debtor means that the debtor has paid more than what they owe, resulting in a positive balance on their account. This situation can arise from overpayments, returns, or adjustments. Essentially, it indicates that the creditor may owe the debtor money or that the debtor has a prepaid amount available for future transactions. It reflects a favorable position for the debtor in terms of their financial dealings with the creditor.
What will be the journal entry Paid creditor on account?
Debit accounts payableCredit cash / bank
What is the correct double entry to transfer rent paid?
12345678910987654321 abcdefewfrtrewagd. thanks for your time
Can the original creditor agree to recall the account from collections who is reporting it once it is paid in full in effect having it removed from the credit report?
Negative entries will remain on a credit report until the required time period of seven years has elapsed. Neither the original creditor nor a collector can have the entry removed, but it can be noted as "paid as agreed", "paid in full" "satisfied" and so forth.
What is the double entry for dividends paid?
DR Retained Profits (in BS) CR Cash/Bank (in BS)
If a debt is not reaffirmed by a creditor is the debt discharged in a bankruptcy?
The creditor is the lender. The bankrupt is the debtor. The lender never has to re-affirm he wants to get paid back.
What is the definition of deed to secure debt?
This sounds like another way of saying mortgage--the conveyance of property by a debtor to a creditor which, if the debt is not paid, can be kept by the creditor.
What does it mean for credit balance of a debtors?
A credit balance of a debtor means that the debtor has paid more than what they owe, resulting in a positive balance on their account. This situation can arise from overpayments, returns, or adjustments. Essentially, it indicates that the creditor may owe the debtor money or that the debtor has a prepaid amount available for future transactions. It reflects a favorable position for the debtor in terms of their financial dealings with the creditor.
What will be the journal entry Paid creditor on account?
Debit accounts payableCredit cash / bank
Who are the parties to credit card?
There are basically two parties involved with credit cards - the creditor and the debtor. The creditor is the organisation who pays the shop or business the debtor (ie you) are buying from. They then collect the money from you in installments adding interest each month until the bill is paid.
What are the rights of a guarantor against a creditor?
A guarantor has certain rights against a creditor, primarily the right to be indemnified for any amounts paid on behalf of the principal debtor. This means that if the guarantor fulfills the debt obligation, they can seek reimbursement from the debtor. Additionally, the guarantor may have the right to request that the creditor pursue the principal debtor before seeking payment from the guarantor. Lastly, the guarantor can challenge any actions taken by the creditor that might unfairly disadvantage their position.
What can happen in the state of Georgia if a debtor can not afford to pay a judgment?
The creditor can file a civil lawsuit. If the creditor wins, he/she may be able to attach against property or garnish wages until the debt is paid.
What can a credit card company do if an Alzheimer patient fails to pay off the balance?
The creditor can seek a court judgment and if successful can record a lien against the debtor's property. The lien must be paid before the property can be refinanced or sold. The creditor can also file a claim against the debtor's estate.
Can a lien be placed on an investment property in fl owned by a person who has not paid off a promissary note?
Yes. The creditor must sue the debtor in court and if they are successful they can request a judgment lien. The lien can be recorded in the land records.Yes. The creditor must sue the debtor in court and if they are successful they can request a judgment lien. The lien can be recorded in the land records.Yes. The creditor must sue the debtor in court and if they are successful they can request a judgment lien. The lien can be recorded in the land records.Yes. The creditor must sue the debtor in court and if they are successful they can request a judgment lien. The lien can be recorded in the land records.
What type of attorney can place a judgment lien?
The creditor must obtain a judgment lien from the court. They must sue the debtor and if they win they can request a judgment lien from the court. The lien can be recorded in the land records and the debtor's property cannot be mortgaged or sold until the lien is paid.The creditor must obtain a judgment lien from the court. They must sue the debtor and if they win they can request a judgment lien from the court. The lien can be recorded in the land records and the debtor's property cannot be mortgaged or sold until the lien is paid.The creditor must obtain a judgment lien from the court. They must sue the debtor and if they win they can request a judgment lien from the court. The lien can be recorded in the land records and the debtor's property cannot be mortgaged or sold until the lien is paid.The creditor must obtain a judgment lien from the court. They must sue the debtor and if they win they can request a judgment lien from the court. The lien can be recorded in the land records and the debtor's property cannot be mortgaged or sold until the lien is paid.
How can you garnish someones wages?
To garnish someone's wages, a creditor must first obtain a court judgment against the debtor, proving that the debt is valid. Once the judgment is secured, the creditor can file a wage garnishment order with the court, which then notifies the debtor's employer to withhold a portion of the debtor's earnings. The employer is required to send the specified amount directly to the creditor until the debt is paid off or the garnishment is lifted. It's important to follow legal procedures and limits, as there are regulations governing how much can be garnished based on the debtor's income and local laws.
If your chapter 13 was dismissed how can you find out which creditors were paid off with the money that was paid to the trustee?
After the entry of the dismissal, the Chapter 13 trusee will send you a final accounting of how much was paid to each creditor.
