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Is a short sale better for your credit than a voluntary foreclosure?

I spoke with a lawyer...Voluntary foreclosure could be better because it would only be 1 hit on your credit instead of having to go 180 days past due. You can offer the deed to your house if the bank will take it to prevent the bank from placing a judgment for any amount uncollected at the sale.


What is uncollected credit?

Uncollected credit refers to the amount of credit that has been extended to customers but remains unpaid or uncollected. This often occurs in business transactions where goods or services have been provided on credit terms, but payment has not yet been received. Uncollected credit can affect a company's cash flow and financial health, as it represents revenue that is not yet realized. Companies may need to implement collection strategies to recover these funds.


What is uncollected funds hold?

An "Uncollected Funds Hold" means that the funds were in the account at the time the check was presented for payment. However, the funds were on hold and could not be released. This is considered the same as an NSF, or Not-Sufficient Funds.


What does it mean when a check is returned and it is stamped Uncollected funds hold?

If you receive a check that is stamped with "uncollected funds" or "insufficient funds," it means there was not enough money in your account to pay the amount the check was written for and the bank will not honor your check. Likely, you will be charged a bounced check fee that varies according to your bank's policies.


Can you cancel a finance company contract within 30 days?

Not unless it was an unsolicited sale.

Related Questions

How do you calculate days' sales uncollected?

By dividing accounts receivable by net sales and multiplying by 365 days.


When was Uncollected created?

Uncollected was created in 500.


What is uncollected premium?

Premiums not yet received by the insurance company. However, to carry the uncollected premiums as an asset on the insurance company's books, the premium must also be due. The due and uncollected premium asset can include premiums that are unpaid for upto 90 days (3 months).


When was Uncollected Stars created?

Uncollected Stars was created in 1986.


Is a short sale better for your credit than a voluntary foreclosure?

I spoke with a lawyer...Voluntary foreclosure could be better because it would only be 1 hit on your credit instead of having to go 180 days past due. You can offer the deed to your house if the bank will take it to prevent the bank from placing a judgment for any amount uncollected at the sale.


How do you calculate the average collected balance?

The definition is: the daily ledger balances less uncollected checks divided by the number of days in a period.


What is the antonym of collected?

Distribution


What is uncollected credit?

Uncollected credit refers to the amount of credit that has been extended to customers but remains unpaid or uncollected. This often occurs in business transactions where goods or services have been provided on credit terms, but payment has not yet been received. Uncollected credit can affect a company's cash flow and financial health, as it represents revenue that is not yet realized. Companies may need to implement collection strategies to recover these funds.


What is DAUD checks?

checks "drawn against uncollected deposits"


Is uncollected revenue an implicit cost?

Yes, uncollected revenue can be considered an implicit cost because it represents potential income that a business does not receive due to factors like credit sales or uncollected accounts. Implicit costs are the opportunity costs of forgoing alternatives, and uncollected revenue reflects the lost opportunity to use those funds for other productive purposes. Therefore, while not a direct cash outflow, it still impacts the overall profitability of the business.


Is IBM a sale oriented company?

Now a days every company is sale oriented..


What is uncollected funds hold?

An "Uncollected Funds Hold" means that the funds were in the account at the time the check was presented for payment. However, the funds were on hold and could not be released. This is considered the same as an NSF, or Not-Sufficient Funds.