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What else can I help you with?
Can a credit card company reopen a charged off account?
No, a credit card company will not reopen a charged off account. They may choose to grant you a new line of credit, but this would be rare.
Payments which are due to the company but which have not yet been collected is called what?
Account receivables
What is the term for the interest charged by the credit card company or the business that maintains the charge account?
The term for the interest charged by a credit card company or the business that maintains a charge account is called the "annual percentage rate" (APR). This rate represents the cost of borrowing on the account, expressed as a yearly interest rate. It can vary based on the cardholder's creditworthiness and the terms of the account.
What does account impounding mean?
Account impounding is an accounting term used to describe an account that is maintained by a mortgage company. This account collects hazard insurance, property taxes, private mortgage insurance, and other required payments.
What transaction would cause decrease and increase liability account?
A liability account is money owed by a company. Such as Accounts Payable and Notes Payable.A transaction that would increase a liability account is if you purchased an item on account. This would increase either the Account Payable or Note Payable accounts.A transaction that would decrease these are actual payments you make to the person/company you owe, hence lowering the balance of how much is owed.For example, I purchase a truck costing $15,000, that transaction has increased my liability in notes payable. Once I begin making payments on that truck, each of those payments will decrease the liability.
Can your mortgage company attach your savings account if you are behind on payments?
No.
Can a credit card company reopen a charged off account?
No, a credit card company will not reopen a charged off account. They may choose to grant you a new line of credit, but this would be rare.
Payments which are due to the company but which have not yet been collected is called what?
Account receivables
Can you close your credit card account and continue to make payments?
No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments
Can a company who bought a charged off account try to collect interest on the account?
Yes, interest and fees are still charged when an account is sent to collections or purchased by a third pary collector.
If you quit your job is it legal for your boss to forward your emails to somebody else in the company?
If you use a work email account, your correspondence is legally the property of that company.
Can a company take money from your bank account without permission?
It depends. If:you have a monthly loan repayment agreement with the company wherein the company automatically deducts your monthly payments from your savings account oryou have defaulted on your loan payments for more than 2 or 3 months and haven't contacted the company reg. the sameThen, the company can withdraw money from your account (if there is any cash available) towards your loan repayment. Otherwise the company cannot deduct any money from your account without intimating you.
Can a credit card company close your account charge it off and still continue to add late fees and interest to the account?
they can if it contains a balance. if they charged it off and gave you a zero balance and a pay off letter then they cannot. If they closed the account and reduced the amount you owe you are still responsible for the payments including late fees and interest.
How are credit accounts affected when another company buys them out?
When often another company buys a credit card company, they have purchased your account. Most often, it is business as usual, and payments are directed to the new owner of the account.
How can you stop a website from taking monthly payments from your credit card after repeatedly asking them to cancel your subscription?
First of all, contact the issuer of the account that the payments are being taken from. You may want to do this by phone and in writing, just to document all correspondence. I would send the request certified, request receipt requested. [If you contacted the company, that is charing your account, did you get the name of the rep? If not, call again to request that the charges be stopped and the account credited for the full amount charged.] When contacting the credit card issuer, dispute the charges, again, in writing. Use the address on the back of a current statement. You should receive a confirmation of the dispute, from the card issuer. If all else fails, contact your State's Attorney General to file a complaint. Another good site to access is FTC.gov. If the company that is charing your account is a bank or 'N.A'., you can also contact the Comptroller of Currency to file a complaint.
What is lock box system and explain lock box system?
A service that a bank provides in which is processes payments for a company. The company directs its customers to send payments to a lockbox at the bank, whose employees then collect the payments and deposit them directly into the company's account. A lockbox reduces time between the receipt and processing of payments, which can be beneficial for the company using the service. On the other hand, it opens the possibility of fraud by bank employees, who could theoretically steal the payments by taking the funds from the payments and not depositing them.
What is the term for the interest charged by the credit card company or the business that maintains the charge account?
The term for the interest charged by a credit card company or the business that maintains a charge account is called the "annual percentage rate" (APR). This rate represents the cost of borrowing on the account, expressed as a yearly interest rate. It can vary based on the cardholder's creditworthiness and the terms of the account.
