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Due to your financial situation and the heavy burden of debt you haven't made a credit card payment in nearly 3 years what is the likelihood you'll be sued?
Factors that determine whether or not a lawsuit will be initiated vary from creditor to creditor. If the account is sold to a third party collector and that agency believes it can collect on the debt a lawsuit is possible. If the person is gainfully employed and/or has nonexempt assets that can be seized a lawsuit is more likely. The SOL for the state of residency also plays a part in when a lawsuit might be filed. However, the suit can be filed the day before the SOL expires, but might not reach court for another year or more. It is best to be prepared in the event of legal action. The person involved should find out what property exemptions they are entitled to under the laws of their state. More importantly if they are a homeowner, they need to be absolutely positive the homestead exemption is filed, or is already valid under the state's laws....Macky (macky83@juno.com)
What else can I help you with?
What are the advantages and disadvantages of opting for a lump sum lease payment structure?
Opting for a lump sum lease payment structure can provide the advantage of potentially saving money in the long run by avoiding future rent increases. However, the disadvantage is that it requires a large upfront payment, which can be a financial burden for some individuals or businesses.
What are the potential consequences of rollover debt on an individual's financial situation?
Rollover debt can lead to higher interest payments, increased debt burden, and a cycle of borrowing to repay existing debts. This can result in financial stress, damage to credit score, and difficulty in achieving long-term financial goals.
What is the penalty for nhif late payment?
The penalty for late payment of National Health Insurance Fund (NHIF) contributions in Kenya typically includes a fine of 5% of the amount due for each month the payment is delayed. Additionally, the total amount owed may accrue interest, further increasing the financial burden on the contributor. It's important for members to pay their contributions on time to avoid these penalties and ensure continued access to health services.
What is the meaning of cost-prohibitive?
It means that a solution is possible but the financial burden of it is significantly greater than the benefit.
What is a form of protection that eases the financial burden people may experience as a result of illness or injury?
insurance
What is the formula of burden coverage?
Burden Coverage Ratio = EBIT/Interest Expense+[Principal Payment*(1-Tax Rate)
What are the advantages and disadvantages of opting for a lump sum lease payment structure?
Opting for a lump sum lease payment structure can provide the advantage of potentially saving money in the long run by avoiding future rent increases. However, the disadvantage is that it requires a large upfront payment, which can be a financial burden for some individuals or businesses.
Have you ever experienced the stress and financial burden of crashing a rental car while traveling?
No, I have not personally experienced the stress and financial burden of crashing a rental car while traveling.
What are the potential consequences of rollover debt on an individual's financial situation?
Rollover debt can lead to higher interest payments, increased debt burden, and a cycle of borrowing to repay existing debts. This can result in financial stress, damage to credit score, and difficulty in achieving long-term financial goals.
What is quarterly payment means?
Quarterly payment refers to a financial arrangement where payments are made four times a year, typically at the end of each quarter. This schedule is commonly used for various types of expenses, such as loan repayments, insurance premiums, or taxes. Each payment covers a portion of the total amount due and helps to spread the financial burden across the year. By paying quarterly, individuals or businesses can manage cash flow more effectively.
Why your financial situation can affluent your use of leisure time give two reasons?
Your financial situation can significantly influence your use of leisure time in several ways. Firstly, having more disposable income allows you to engage in a wider range of recreational activities, such as travel, dining out, or hobbies that require financial investment. Secondly, financial stability can reduce stress and provide the freedom to take time off work, enabling you to enjoy leisure activities without the burden of financial worries.
If your payments are up to date but you want to turn the car in early because the payments is a financial burden what will this do to your credit?
It will make a repo appear on ones CR and subsequent loans will require a higer interest rate and possibly higher down payment.
What puts a burden on another person?
Many things can put a burden on another person. The biggest burden tends to be financial need. For example, if an elderly person or sibling who lost a job needed help to support themselves, this could be a big burden on you.
What is the meaning of burdened?
of Burden
When there is a question of back child support where is the burden of proof?
The burden of proof is on the payee (the one receiving payments). If a support order was filed - the payee contacts the state agency to "go after" the payor. The burden will then shift to the state as they are the keeper and overseer of all payment records. They can then garnish IRS tax refunds and issue additional child support payment amounts to repay the arrearage.
When should you get life insurance?
The moment you either: get married, have a child, or enter into any situation where someone will be left with a financial burden without you. That answer can be answered with all sorts of "great" financial reasons but the only answer is based on your personal preferences. The bottom line is, do you care what happens after you die? If you do not, then your life insurance needs are on big zero!
What is the estimated annual financial burden attributed to alcohol abuse in BC Canada?
1 billion
