0
A debt typically becomes due on its specified due date, which is outlined in the terms of the agreement between the borrower and lender. However, in some cases, a debt may become due upon notice if the lender invokes a clause that accelerates the debt—this often occurs when the borrower defaults on the agreement or fails to meet certain conditions. In such situations, the lender can demand immediate payment regardless of the original due date.
What else can I help you with?
If a debt collector takes money out of your account before the date that you agreed upon can you have the money placed back into your account?
yes.reason is that if the debt collector return the money in question, you can as well pay it back into your account.thank you
When a notice of completion is filed how many days is payment due?
i believe it is due upon delivery of said notice. I include my payment with the notice.
When an old account is sold to another collection agency does the account become new again?
No. The state SOL begins approximately 6 months after the debt is defaulted upon. (Usually the last activity on the account). If any money is paid on the account, the debt is considered to be reaffirmed.
If you become power of attorney for a deceased sibling can you be held responsible for their debt?
No. There seems to be some confusion as a POA becomes null and void upon the death of the grantor. However, the POA grantee is never responsible for the debt of the grantor beyond said grantor's financial assets.
Does a loan become a gift if the lender dies?
Not unless there was such language in the promissory note or the lender directed that loans would be forgiven upon her death in her will. Otherwise the debt would be owed to the decedent's heirs.
Definition of primary promise?
promise to pay another's debt that is not conditioned upon the other person's failure to pay promise to pay another's debt that is not conditioned upon the other person's failure to pay
Do debt collectors have to send you a written statement validating the debt?
Upon your written request for validation, yes. This is covered under the Fair Debt Collection Practices Act (FDCPA).
How many days does a debtor have to dispute their debt?
It depends on the contract language but you should file your dispute immediately upon learning the debt exists. The law work on the "reasonable person doctine". You should be good if you filed the dispute within 30 days upon learning of the debt.
What does notice of litigation threshold means?
Notice of litigation threshold means that someone has legal proceedings about to be brought upon them and that the notice is to make them aware of those proceedings beforehand.
What does notice board is negotiable mean?
it means it can be talked about and debated upon.
Why would someone agree to become an indentured servant?
It gave them a free passage to America and promised them food and shelter upon arrival.
How can you clear my debts?
Debt settlement is highly successful and gets you out of debt quicker than any other method (12 - 36 months on average). Debt settlement is the process of negotiating with your creditors/debt collectors for a lower, agreed upon, amount to get you out of debt faster.
