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When a settlement on a debt has been reached and paid to the minimum are you still liable to pay the remainder of the amount owed on a debt?
Absolutely not, and keep your settled in full letters. Make sure you get one too!!
The exception to what I just said though, is most agencies will (legally) 1099-C you for the unpaid amount. This means you need to pay taxes like you would on earned income, on the remaining amount.
Experience: I own a collection agency.
What else can I help you with?
When I Access My Credit Line What Is The Minimum Amount I Have To Request?
No. There's no minimum amount whenever you transfer cash out of your credit line.
What is the Charles Schwab minimum amount required to open an account?
The minimum amount required to open an account with Charles Schwab is 0.
What is the minimum FHA loan amount?
$5,000
What are the disadvantages of using a debt settlement agency?
There are many disadvantages to using debt settlement agencies. One of these disadvantages is that they will charge a certain amount of the money amount being disputed for their services.
Is debt settlement a good choice?
AnswerDebt settlement helps you in reducing your debt amount significantly, the debt settlement company negotiates with your creditors to reduce your debt amount. It is a better option than filing bankruptcy. I took help of Freedom Debt Relief and their debt reduction program helped me in reducing my debt amount.
Will a cash advance company accept settlement for debt?
They usually will. they will give a minimum amount they will settle for.
What are some ways one can clear up their bad debt?
One is to contact the company to whom the debt is owed and negotiate a settlement. Once a settlement amount has been reached, the debtor (the one that owes the debt) pays the "settled" amount and requests a letter or some kind of verification from the company.
What states Expose the minimum number of people to the minimum amount of explosives for the minimum amount of time?
principle of explosives safety
What is the amount left called?
The remainder.
How do you use the word minimum in a sentence?
He did the minimum amount of work possible.Most people want the minimum amount of yard work possible.
Does a saturated solution contain minimum amount of solute?
No, on the contrary: it contais the maximum amount of solute (in the minimum amount of solvent)
What is the minimum amount to sue someone in federal court?
what is the minimum amount you can sue someone at a federal level
What is the minimum amount of work required to complete this task?
The minimum amount of work needed to finish this task.
What is the minimum amount you can sue for in the small claims court?
There is no minimum.
How long does it take to receive a settlement check after arbitration ruling on a settlement amount?
$268million
What is the minimum limit of rtgs?
The minimum limit for Real Time Gross Settlement (RTGS) transactions varies by country. In India, for example, the minimum amount that can be transferred through RTGS is ₹2 lakh. Other countries may have different thresholds, so it's essential to check with the specific financial institution or regulatory authority for accurate information.
What can you do if you paid a pending debt and obtained a letter from the creditor saying settlement in full but later find out that it was reported as charge-off?
Probably not much. If the lender settled for less than the total amount due, the remainder was charged off.
