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Can a debt collector in the state of Michigan collect on a debt if they have already charged it off?
Yes, the term is used to indicate a debt being written off as uncollectible by the original creditor. The debt however remains valid and subject to collection by a collection agency working for the original creditor or a third party that buys the account.
What steps should you take to become debt free?
You can start by setting a budget and then using the snowball debt payment plan to pay off your debt.
Which debt should I prioritize paying off first: my car loan or my student loans?
You should prioritize paying off your debt with the highest interest rate first. This will save you money in the long run.
Is there any advantage to paying off an old judgment if it is nearing the 7 year mark?
There is always an advantage to paying off any debt. The seven year rule does not apply to all judgments. Many judgments can be and are renewed until the debt is satisfied.
Should I pay off my 0 interest debt?
Paying off your 0 interest debt can be a good idea to avoid potential future financial stress and improve your credit score.
Can you use your Stafford student loan to pay off debt?
No, you cannot use a Stafford student loan to pay off personal debt. The only debt that should be paid off with an educational Stafford loan is your college debt.
Can a debt collector in the state of Michigan collect on a debt if they have already charged it off?
Yes, the term is used to indicate a debt being written off as uncollectible by the original creditor. The debt however remains valid and subject to collection by a collection agency working for the original creditor or a third party that buys the account.
What steps should you take to become debt free?
You can start by setting a budget and then using the snowball debt payment plan to pay off your debt.
Which debt should I prioritize paying off first: my car loan or my student loans?
You should prioritize paying off your debt with the highest interest rate first. This will save you money in the long run.
How can I use a debt ratio calculator to estimate my finances and investments?
A debt ratio calculator is a great tool to use to figure out how much you should save and how much you should invest. If you have a lot of debt, you should pay that off first.
Under UK law should you pay a debt that has been written off by a company?
If the debt has been written off, it no longer exists and therefore does not need to be paid.
Should you pay off your debt before you refinance?
du yeah who asks that
In the state of Michigan is the executor responsible for the bills of the deceased parents?
In Michigan they are not personally responsible for the debt. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
What is internal charge off?
A bank or a loan company can "charge off" a small amount of debt to get the amount off their books. However, this will affect a person's credit report. And it does not mean the person does not have to pay the debt. A debtor should still work to pay off the charge off, to clear the debt and save their credit rating.
Should you pay a debt that is charged off?
The term 'charge off' does not define the debt as invalid and uncollectible. The term is something that creditors use to signify a debt is in collection status which relates (in a roundabout way) to taxation purposes. One should always honor their debts when it is at all possible. Not paying a 'charged off' debt can subject the debtor to collection action from third parties and/or a civil suit.
Is there any advantage to paying off an old judgment if it is nearing the 7 year mark?
There is always an advantage to paying off any debt. The seven year rule does not apply to all judgments. Many judgments can be and are renewed until the debt is satisfied.
Should I pay off my 0 interest debt?
Paying off your 0 interest debt can be a good idea to avoid potential future financial stress and improve your credit score.
