0
Can another company purchase a charged off account and accumulate interest on that account?
Yes, another company can purchase a charged-off account, typically for a fraction of its original value. Once they own the account, they may attempt to collect the debt and can potentially charge interest, depending on the terms of the original agreement and state laws. However, the ability to charge interest may be limited by regulations governing debt collection practices.
What else can I help you with?
What is another name for credit sales?
Another name for credit sales is "sales on account." This term refers to transactions where goods or services are sold to customers with the agreement that payment will be made at a later date, rather than at the time of purchase. Such transactions create an accounts receivable for the seller.
Can my account be sold to another collection agency?
Yes.
What is take-over in business?
In business, a takeover is the purchase of one company (the target) by another.
Can you transfer your IRA account to your other IRA account with another broker?
Yes, you can transfer your IRA account from one broker to another. This process is typically done through a direct transfer, where the funds move directly from one IRA custodian to another, avoiding any tax implications. It's important to ensure that the transfer complies with IRS rules and that you follow the procedures outlined by both brokers. Always check for any potential fees or account requirements before initiating the transfer.
What are some examples of planned inventory investment?
An example of a planned inventory investment might be the purchase of inventory at a reduced price to gain a larger profit margin. Another example of a planned inventory investment might be the purchase of shelving or another cash register.
How much interest is earned on the account?
A $5000 investment at an annual simple interest rate of 4.4% earned as much interest after one year as another investment in an account that earned 5.5% annual simple interest. How much was invested at 5.5%?
Ryan wants to place 700 into a savings account for five years He wants to deposit 400 at 4.0 percent interest and the rest in another account at 6.5 percent interest What would his amount of interest?
177.50
What is another word for invoice?
* statement * demand * proof of purchase * account * bill
Shaun wants to split his 500 into two accounts He wants to deposit 125 at 4.9 percent interest in one account and the rest at 5.0 percent interest in another account?
24.88
Double entries for settlement of hire purchase loan?
In a hire purchase agreement, the settlement of the loan involves two key entries in the accounting records. First, when a payment is made, a debit entry is recorded to the hire purchase liability account to reduce the outstanding loan balance. Simultaneously, a credit entry is made to cash or bank to reflect the outflow of funds. Additionally, if there are interest charges, these would also be recorded as an expense, creating another debit entry to the interest expense account.
What is a 6 letter word for accumulate?
Another word for "accumulate is "gather."
How can one obtain the best interest on savings?
One might obtain the best interest on savings by looking at the different interest rates banks offer and opening a savings account with that bank. Another way to obtain the best interest on savings is to open a Tax Free Savings Account.
How do you change credit cards to another PayPal account when you don't know what account your card is bound to?
I used my card for a quick account to make a quick purchase, and Id on't know what account that would be. So now it's not letting me use my card for another account. Any solutions?
Does a mazin hamster make your webkinz account expire?
A Mazin' Hamster does not cause your account expire. However, as far as I know, it does not extend your account for another year. If you want to keep playing Webkinz for another year, purchase a Webkinz, as a Mazin' Hamster will not count.
You are intrigued with having a savings account online for convenience sake Does anyone know how does it work?
The Online Savings Account is designed such that you earn high interest but still have your money available at call. You can access it anytime using Phone and Internet Banking. Simply link your Online Savings Account to another bank account, whether with ME Bank or another Australian financial institution. The account must be in the same name as your Online Savings Account or, where the account is held jointly with another account holder, at least one account holder.
Where can I find the best interest rate?
Do you invest in your 401 k? The interest rate is typically much better there especially if you are saving for retirement. Also another option is to purchase a CD which the interest rate is always high on. Good luck.
Is it good for something to be interest-free?
Sometimes. When you are buying something on credit, interest free means you do not pay interest on the purchase. However, if the sale price is much higher than another store selling the same thing, but charging interest, it might not be a good deal.
