answersLogoWhite

0

Creditors do not dismiss debt due to the fact that the debtor is unable to pay. This does not necessarily indicate the lender is unsympathetic, it is simply the way business is done. Some creditors will work with a consumer to perhaps lower interest rates, lower payment amount, allow the debtor to pay only interest on the account, and so forth. Such actions are generally have a specified time limit. Hardship dismissals are adjudicated at the discretion of the court and usually pertain to student loans rather than credit card or other such debt(s).

User Avatar

Wiki User

20y ago

What else can I help you with?

Continue Learning about Accounting

How do you remove a unpaid phone bill off credit report after nine years?

Write a letter to the credit agency. I will warn you that getting things changed on the credit report is hard. They often don't do it even after several attempts.


What is a write off on a gas bill?

A write-off on a gas bill refers to an amount that a utility company has deemed uncollectible and decides to remove from its accounts. This typically occurs when a customer fails to pay their bill for an extended period, and the company concludes that further collection efforts would be futile. While the debt is written off for accounting purposes, it may still impact the customer's credit rating and could lead to collection actions.


Would stamp duty required or not on bill of exchange of 90 days in Import Letter of Credit?

Yes, it must be charged as per local stamp duty act....normaly 0.2% of local bill amount for any usance or d/a bill l/c.


Are you responsible for a bill if you never receive a statement?

Apparently so.I recently received a letter informing me that I was being sued for a hospital bill from 2005 that I had never received a bill for.Luckily I was able to set up a payment plan and keep it from going to court and becoming a judgment against me.


How do you write a paragraph about Bill Gates?

WikiAnswers will not write your homework for you, but we WILL help you learn how to do it yourself! Click on the Related Questions for even more information. Write sentences the way you speak - just pretend you are telling this to a friend, and write down what you would say. What would you tell them about this topic? Look up some facts about Mr. Gates! How would you describe this man to your friend? If you just start writing, you will be through with your assignment before you know it!

Related Questions

How do you write a hardship letter for an ambulance bill?

Explain that you're in financial difficulty, and that you're not able to pay the bill that was required for your hospital stay. If needed, you may have to go through a credt agency or another related agency that have skilled individuals that will be able to assist you with creating a letter. Good Luck!


Can you write a letter to Bill Murray?

yeah, I can.


How do you write a hardship letter for my sisters?

Hardship Letters are written when you are going through financial problems.You write this letter to the broker, bank,or financial institution asking for loan.That means this letter is very official kind of letter.So be very careful while writing it. Be formal in words.Be specific in what exactly your problem is.If you are writing hardship letter asking for permission to pay the college fees or medical bill in installments,then specify the reason why you want so.Also tell when will you be manage to pay all the money. You can ask solution to your financial problems in the form of request to grant mortgage loan,debt consolidation loan,etc. Be polite and show patience. Thank you,All the best.


How do you write Bill Watterson a letter?

Just like any regular letter.


Is it possible to write a letter to bill gates?

I think it was around 170 170


Write a letter to sanction of increment after vasectomy?

Please sanction of telephone bill amount


How do you write a Internet bill dispute letter?

An internet letter is a soft copy of a complaint written to creditors. It's written to the creditor reporting company concerning bill disputes.


Write your own Bill of Rights?

Write your bill of rights.


How do you write a letter showing proof of residence for a family member?

In the letter, you can state that the family member resides at your home. If you have a bill or other mail addressed with their name on it, you can include it in the letter.


How to write a hardship letter for work transfer?

Well, writing a hardship letter for a work transfer is all about expressing your genuine feelings and reasons for needing the transfer. Start by explaining your situation clearly and honestly, and then kindly request the transfer while highlighting how it would benefit both you and the company. Remember to keep a positive tone throughout the letter, and trust that your sincerity will shine through. Just take a deep breath, put your feelings onto paper, and believe that everything will work out in the end.


Who can write a proposed bill?

Anyone can write up, or draft a bill, but only a member of Congress can introduce it


Did hamilton write the bill of rights?

His name is not stated in the bill of rights.