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In North Carolina, zombie debt refers to old debts that are no longer enforceable in court due to the expiration of the statute of limitations, which is typically three years for most consumer debts. These debts often resurface when collectors attempt to collect on them, even though the debtor is not legally obligated to pay. Consumers should be cautious and verify the age of any debt before making payments, as acknowledging or making a payment can sometimes reset the statute of limitations.
What else can I help you with?
Are dividends considered debt?
Not debt, but they are income.
What is credit card debt considered?
revolving debt
Are car loans considered unsecured debt?
No, car loans are considered secured debt because the car itself serves as collateral for the loan.
What is credit cards are considered?
unsecured debt
Is a loan considered debt?
Yes, a loan is considered debt because it involves borrowing money that needs to be repaid with interest over a specified period of time.
Are dividends considered debt?
Not debt, but they are income.
Is equity considered debt?
No it is the opposite of debt.
What is credit card debt considered?
revolving debt
Are you responsible to pay a debt in NC if your spouse dies and has a will and leaves credit card debt with cards in her name only?
No. NC is not a community property state. Therefore the debt belongs completely to the deceased. Probate procedure for collecting and distributing assets and paying debts, are governed by state law.
Can a judgment be filed on you in NC for credit card debt?
Yes, judgment can be obtained against any person in the US in any state for an unpaid debt. How recoverable that debt is by North Carolina law is another matter. Where you run into a problem is that the credit card company is not likely in NC, and may have other recourses to recover the debt, such as filing in their state of occupancy.
Are you responsible for a spouses debt if not a joint account and are still married in the state of nc?
Yes
How do you put a lien onsomeone's house in NC?
you cant't, a lien is a debt owed not applied.
Is having debt good or bad?
To be in debt is usually considered bad.
Is a credit card considered unsecured debt?
Yes, a credit card is considered unsecured debt because it is not backed by collateral.
What is considered a solely incurred debt?
if i need a car and i am in bankruptucy how can i get a letter of incurred debt
Would any part of a 5-year auto loan be considered a current liability?
The portion of payments due in the current period (1 yr) are considered the current portion of long term debt; the remainder would be considered long term debt, though this is difficult to justify, given that auto loans are consumer debt - that is debt that is not tax deductable. The portion of payments due in the current period (1 yr) are considered the current portion of long term debt; the remainder would be considered long term debt, though this is difficult to justify, given that auto loans are consumer debt - that is debt that is not tax deductable.
Are car loans considered unsecured debt?
No, car loans are considered secured debt because the car itself serves as collateral for the loan.
