0
What is the difference between paying off and discharging a debt?
Wiki User
∙ 16y ago
I wonder if you mean a "charge off" rather than discharge? If you pay a debt off, you send them enough money to cover the cost of the purchase plus any interest charges, and they send you a statement with a zero balance. If you have a debt charged off, that means the load company has given up hope of ever getting the money out of you, they zero out the balance on their computers, and notify the credit bureaus that you are a deadbeat.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
What is the fine line difference between commercial debt and consumer debt?
Consumer debt is governed by the FDCPA....commercial debt is not.
What is difference between loan and debt?
loan is money borrowed and debt is money owed. :-)
Can you be arrested for not paying your apartment debt?
Yes you could be arrested for not paying your apartment debt.
Can you get out of a deed of trust?
Yes, by paying off the debt.Yes, by paying off the debt.Yes, by paying off the debt.Yes, by paying off the debt.
What is the difference between debt and loan?
A debt is something you owe someone, a loan is something you borrow
What is it called to stop paying off debt?
To stop paying on a debt is to "Default" on the credit agreement.
What is the difference between debt settlement vs bankruptcy?
There is a subtle difference between debt settlement and bankruptcy. Debt settlement allows a person to pay off some of their debt with their creditors. Bankruptcy claims do not result in payment of the debt. Either practice creates bad credit scores for the consumer.
True or false Financial managers prefer to choose the same debt level no matter which industry they operate in?
False, equity has its advantages as well (like paying dividends are not required, but paying interest on debt is), so the debt level can vary widely between industries and even between companies in the same industry.
Difference between debt settlement and negotiation?
No difference, 2 different words for the same thing.
What is the difference between a liquidated debt and an unliquidated debt?
The difference between an unliquidated debt and a liquidated debt is this: Liquidated Debt: A debt that has an exact monetary value. Unliquidated Debt: A debt that is undisputed as to its amount, but still under the liability of the debtor. Each one of these debts has a statute of limitations to it. I believe they stand at 3 years for liquidated debt, and 6 years for unliquidated debt. These numbers are for Colorado and can change from state to state based on their rulings.
How does the world get out of debt?
The world gets out of debt by paying their debts
Distinguish between debt forgiveness and debt retirement?
Debt retirement refers to the paying off of a debt in order to avoid future interest payments, this can only be done if the current funds available are able to clear the outstanding balance of the debt. Debt forgiveness on the other hand can be considered to be an amnesty by lending institution for countries who are heavily indebted, this is usually done to help alleviate the debt burden faced by such countries. Therefore the difference between debt retirement and debt forgiveness is that one is paid off by the country who is able to pay off the debt and the other is an amnesty given to remove the debt for countries who cannot afford to pay it off.
