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What else can I help you with?
Why does a business written off debt as bad?
When a business has debt to collect, it is listed as accounts receivable on their books. This is considered as asset. When it becomes clear that the business cannot collect the debt, it must be written off as bad debt. This is done to remove it from the AR listing.
I didn't sign a contract with the debt collection agency do I have to pay them?
If they bought the debt legally and they can produce the contract you signed with the original creditor, than that's what's called validating your debt. If they are pursuing you you have a couple of options. 1. you can send them a C&D and @. you can request that they validate the debt, that is usually done within 30 days of them initially contacting you.
What can be done to you if a debt goes into collection?
AnswerFind out who the collection agency is, if you don't know, and pay the debt off immediately. As soon as the debt is payed get it cleared from your credit report.If you debt is business to business, then plays different rules compared to consumer debt, laws and rules applied to debtor and protect also the business that place the account to a commercial collection agency, if you have a lawyer ask him to talk to the collectors if not, talk to them, explain your situation and offer work with them to pay off the debt
If you pay taxes on a charged off account can a debt collector still collect that account?
If a 1099-C form was received then you are required to pay taxes on the amount shown. This is done when a debt is considered cancelled. A cancelled debt cannot be pursued for collection. ALthough there is no guarantee that unethical collectors wouldn't make an attempt to do so.
Do most business periodically remove bad debt from their books?
Yes, most businesses periodically remove bad debt from their books through a process known as debt write-off. This is typically done to reflect a more accurate financial position and to comply with accounting standards. By removing uncollectible accounts, companies can improve their financial statements and focus on more productive assets. Regularly assessing and writing off bad debt also helps in managing cash flow and maintaining accurate financial reporting.
What can be done to help the uk national debt?
The United Kingdom has been in debt ever since the first World War. Some say that the answer is to invest properly, which has not been done right and that is why the United Kingdom is still in debt.
What does third world debt mean?
Third world debt means the debt of the US Parliament. No, no it refers to the money which the richer nations of the world have loaned to the nations of the Third World. The First World, if you like, is the old established European nations which became the colonisers of the world. The new World is the Americas, north & south. The Third World are the countries of Asia & Africa which, so far, have not been pre-eminent in economic power. For example, China & India are rapidly no longer going to be in the Third World because of massive economic growth. Japan has a powerful economy, as has Singapore. Zimbabwe on the other hand is now amongst the poorest of nations. it is a very debatable point whether those of us that live in wealthy nations should loan these countries money at all. Personally I believe we should simply give them all the aid we can. It is pointless asking someone who has little wealth to repay a loan they cannot afford to take in the first place. Which is exactly what 'Freddie Mac & Fanny May' have done with the US economy which is why we are now all in the doo doo. But that is a different Q altogether.
Is Gordon brown in debt?
he will when im done with him!!
Why is there 4 activities missing on my map on saints row the third ive done all missions 47 out of 47 and all gang operations?
also ive done all the gang operations AND also missions and all activities exept 4 because they are not coming up ? , help
What is a tatle tale?
A tattle tale is a person which notifies another of a third party's activities. It is often associated with children who tell an adult of things another child has done.
Persons who committed themselves to work for a sponsor for a few years in exchange for the cost of passage to the new world?
So a person wants to go to the new world they pay the richer person a debt of lets say 3 years of farming for them in the new world. once the 3 years is over the debt is done
What is a debt service?
Debt service refers to payment of money owed to a bank or other institution. Debt service may be done all at once or in stages.
How would you compare your pulse rates in the two activities you have done?
how would you compare your pulse rate in the two activities you have done
How can debt counselling prevent foreclosure?
Debt counselling, if done right, has the ability to condense your debt and reduce your monthly payments. This makes it easier to pay your monthly mortgage.
What is a debt -for nature swap?
Debt for nature swap is a transaction in foreign exchange which debt owed by a developing country is transferred to another organization. This swap in done in money.
What is the national debt line?
The National Debt Line is an organization located in the UK. It is a line where people with debt problems can call and ask for help. This is done as a charitable organization.
Why done you put everybody that own money in jail forowning a debt?
Because, Comrade, owning a debt is not actually illegal.
