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A promise or obligation to pay to another a certain amount of money which has no collateral?
unsecured debt
Can wages be garnished by more than one judgment creditor at a time in North Carolina?
When a creditor garnishes your wages they can only take a certain percent. Then when another creditor comes along they cant garnish your wages to because the first one is already taking the maximum allowed.
Can a bank refuse to release collateral if they have excessive collateral?
They can refuse if the loan outstanding is much more than the collateral provided. Ex: If you have a loan outstanding of 100,000$ and you have provided a collateral of 50,000$ you cannot expect the bank to release any collateral. Lets say your outstanding is only $30,000 then you can expect the bank to release a certain portion of the collateral atleast $20,000
What are the examples of financial liabilities?
A financial liability is defined as the obligation to give cash to another entity under certain conditions. Some examples of financial liabilities are accounts payable and loans.
Is is possible for a creditor to garnish an insurance settlement that you are scheduled to receive?
Assets and income that are exempted from creditor lawsuit action is determined by the laws of the state of residency. The property that a debtor can protect from creditor execution is the same property that is noted in a bankruptcy filing. In most cases there are certain federal exemptions that can be used as well as state to stop creditor seizure of specfied property owned by the defendant debtor.
A promise or obligation to pay to another a certain amount of money which has no collateral?
unsecured debt
If creditor has threatened to repossess if a certain amount is not paid and you have paid partial can the vehicle still be repossessed?
As long as the contract is in DEFAULT, the collateral CAN be repossessed. One dollar or one day. Its a GAMBLE you take when you are in default.
Element of obligation?
An element of obligation refers to a requirement or duty to fulfill a certain task or responsibility. It implies a sense of necessity or moral imperative to act in a certain way or to adhere to a particular standard or commitment. Failure to fulfill an obligation may result in consequences or sanctions.
What is condition obligation?
A conditional obligation is a contractual event that depends on certain situations. The obligation only is in place if certain circumstances occur.
What is does it mean for an original creditor to recall their collection?
Recall of a debt by a creditor is when the original creditor asks for the debt to be returned to them after they have sold it, often to a collection agency. This may occur if the debt has not been collected for a certain amount of time, and the debt will be sold to another agency to collect, or if the debtor offers the original creditor a settlement.
Can wages be garnished by more than one judgment creditor at a time in North Carolina?
When a creditor garnishes your wages they can only take a certain percent. Then when another creditor comes along they cant garnish your wages to because the first one is already taking the maximum allowed.
Can a bank refuse to release collateral if they have excessive collateral?
They can refuse if the loan outstanding is much more than the collateral provided. Ex: If you have a loan outstanding of 100,000$ and you have provided a collateral of 50,000$ you cannot expect the bank to release any collateral. Lets say your outstanding is only $30,000 then you can expect the bank to release a certain portion of the collateral atleast $20,000
What the elements of an obligation?
In legal terms, an 'obligation' binds someone to perform or 'do' a certain thing. (e.g.: a contract forms on obligation on the part of the buyer and the seller to perform in certain ways. A court order will obligate someone to do or act in specific fashion.)
What is a conditional obligation?
A conditional obligation is an obligation that is only triggered if a certain condition or event occurs. This means that the obligation to perform or fulfill the duty is dependent on the specified condition being met. If the condition is not satisfied, the obligation may not need to be fulfilled.
What is a sentence with the word obligation in it?
I am obliged to meet you. I am obliged to to do something.
What is a futures stocks?
A futures contract is an obligation to buy a stock at a certain price on a certain date, unlike and option, where there is no obligation to buy, only the right to buy. Check out this website, it might help you get started.
Do parents have a legal obligation to give their children their birth certificate at a certain age?
There are no known laws that state a parent has to give their children their birth certificate at a certain age, so they do not have a legal obligation to do so.
