That is a decision made by the lender. It might be possible depending upon the circumstances. For example, the offer made to pay off the vehicle loan is a larger amount than the lender would receive by making a claim against the estate of the deceased.
An offer in compromise represents the most a person could be expected to pay of what taxes they owe. It allows a person to settle their tax debt with the IRS for less than the full amount they owe.
while you are disgussing the settle amount ask that it be remove from the debt collection notice..and that your agreement be in writing.if you do not get it in writing at the time ofthe payment of the settle amount.most likely you wont get it in writing afterwards.so be clear to him or her that this is your request to settle the debt pay off.
To settle a debt with usually, it generally requires a phone call or written contract. The debt owner agrees to a settlement amount to be paid immediately and the rest is written off. Unfortunately, the amount written off is subject to income tax!
Credit card companies typically settle for around 50-60 of the total debt amount in debt negotiations.
form_title=Settle Your Debt form_header=Work with your creditors to consolidate and set up a debt repayment plan. What is the total amount of debt you owe?=_ Do you own your home? = () Yes () No Have you ever filed bankruptcy?= () Yes () No
The amount of credit card debt a person has may hurt them from receiving credit when they apply for loans. It is called debt to income ratio.
They usually will. they will give a minimum amount they will settle for.
About debt consolidation, you can talk to the personnel of Debt dot org. Share to them your concerns regarding your debt consolidation. They could help you how to settle and manage your debt plans.
By paying the total amount that has to be paid back from retailers to debt collectors.
Only if that person was also a co-owner of the card prior to the marriage. If you were the only owner of the card (and consequently the debt) prior to the marriage, then no, you are the sole owner of the debt.
The first step a person should take to find out how to get out of debt is to find out what debt they have. After they find out what debt they have, they should contact the companies that they owe money to and see if they are willing to settle.
If there a will of intent then that person assumes all debt and capital gains ... if there no will of intent is NO ones reasonable ... the person's assets can be sold off to settle that debt in an auction ...