Can collection agency collect or report if charge off accounts are deleted after 7 yrs?
Attempt to collect: yes they can attempt to collect long after the 7yr tradeline expiration date.
Report: no since the very first account default triggers the 7yr deletion timer not when the collection agency receives it from the original creditor.
What happens if you don't go to court when a creditor sues you?
generally speaking, if some one such as a creditor sues you to recover what is asked for in the summons and complaint. Your appearance is mandatory, unless you want to let the plaintiff to win by default, and gets everything he can convince the Judge he is entitled to by whatever proof is presented in court. Its never a good idea to just NOT appear. if you do not believe you can offer testimony to lessen the damages he is seeking, do what you will. why would you consider not going?? you think he'll win anyway? what if he says things that you can contest, but was not there, so he gets it all, like it or not!!!
If a check which has been cleared could it still bounce?
yes many times a bank will indicate that a check is cleared and later the check will come back from the other bank stating that it was not a good check or NSFs. Unfortunaetly there are some banks that will show a check as cleared even before it has as a customer courtesy
Is it legal to have a Canadian Bank account without being Canadian?
Canadian banks require that you visit the bank there in order to open an account
Can a credit card co do force you to pay unsecure debt?
Yes, but, the laws vary from state to state. In order to find out what they legally can do to collect on a debt, you need to check the banking laws of the state where the credit card co's bank is located, NOT the banking laws of the state where you reside! For example, Utah has very lax banking laws for banks. There is not a minimum percentage of interest that the card co can charge you...so, people with slow pays, or delinquent accounts will be charged interest at 47%. The credit card banks can also put a lien on you bank accounts, garnish your wages, etc. If you are struggling to pay your bill, you can always contact a non-profit consumer counseling service to see if they can negotiate repayment of the debt under terms other than the current terms. What this means is that they can put together a proposal so that you have little or no interest on your account, or, they can negotiate repayment of the debt at a lower amount then what is currently owing on the account.
What do you do if the bank freezes your account?
1) Go into the bank and speak with the branch manager where you have the account.
2) Demand to see in writing where the Federal Reserve allows them to hold your funds for that extended period.
3) Send a fax to both the local branch manager and a bank executive [VP], demanding your money. Ask them to show you legal proof that allows them to hold your funds hostage 3) In the fax, tell them if they do not release your funds immediately, you will find complaints with the following authorities: - The Attorney General for Your State
- The State Agency that Regulators the Bank
- The Local Justice of the Peace
Why might the government freeze assets?
Why might the government freeze assets?
To stop crime activity.
Can you use a judgment to garnish a person's tax refund in Ohio?
According to Ohio Revised Code Section 2329.66(3) you can. I'm tying to find out HOW to go about it though....you probably just have to get a court order to garnish the tax refund then send it to the ohio department of taxation before January. The code reads that you can take $400 from the state refund. Here it is:
The person's interest, not to exceed four hundred dollars, in cash on hand, money due and payable, money to become due within ninety days, tax refunds, and money on deposit with a bank, savings and loan association, credit union, public utility, landlord, or other person, other than personal earnings.
It depends on your state. You should definitely get a lawyer!
Which is one way that credit cards differ from debit cards?
With a credit card, you pay later for something you buy.
What are bad checks that customers have written?
Bad checks are checks that customers have written in payment of goods or services that, when presented to the bank for payment, are returned because there is not enough money in the customers account to meet the amount stated on the check. In some countries it is a criminal offense to write a bad check.
Are there state restrictions regarding talking to a spouse when a debt is concerned?
Yes. Minnesota, Iowa, and New Hampshire are spousal restriction states. A debt collector calls your house, and your spouse answers, they cannot discuss the account with your spouse, even if they claim they are your spouse. The reason is because anyone can claim to be your spouse.
Why do banks pay their customers interest on the money in their savings accounts?
The bank charged interest when it loaned that money to someone else. So in return, the banks pay their customers interest on the money they borrowed from their savings accounts.
What is the fastest way o get out of credit card debt?
Getting out of credit card debt can be a challenging process, but there are several strategies you can use to accelerate the process and become debt-free as quickly as possible. Here are some tips for the fastest way to get out of credit card debt:
Stop using your credit cards: This may seem obvious, but it's essential to avoid accumulating more debt while you're trying to pay off your existing balances. If you can't resist the temptation to use your credit cards, consider cutting them up or freezing them in a block of ice to make it more challenging to access them.
Create a budget: To pay off your credit card debt quickly, you need to know exactly where your money is going. Create a budget that includes all of your income and expenses and identify areas where you can cut back. Use the extra money to make larger payments on your credit card balances.
Focus on high-interest debt first: If you have multiple credit card balances, focus on paying off the one with the highest interest rate first. This will help you save money on interest charges over time and allow you to pay off your debt more quickly.
Consider a balance transfer: A balance transfer allows you to transfer your existing credit card balances to a new card with a lower interest rate. This can help you save money on interest charges and pay off your debt more quickly. However, be aware that balance transfer fees may apply, so do your research before making a decision.
Increase your income: If you're struggling to make ends meet, consider finding ways to increase your income. This could include taking on a side hustle, selling items you no longer need, or asking for a raise at work.
Remember, getting out of credit card debt takes time and effort, but it's possible. Stay focused on your goals, create a plan, and stick to it, and you'll be debt-free before you know
Make easy money check link in bio!
What number is 1 followed by a million zeros?
It would be 101000000 = 10^(106), but it has no formal name.
What does foreclosure in a house mean?
its like when you cant pay your rent in an apartment. the people that own it kick you out. or, in this case, the bank does it means that someone cannot afford to pay for their house. therefore the bank forecloses it or in other words takes it away and sells it for the remaining balance of the loan.
15
(15 * 15 - 15)/2 = 105
Who does third world debt effect?
It affects countries that have to pay other countries because they r so poor
What are the services rendered by leasing company?
Financial Products and Services
Equipment Financing
Receivables Financing
Inventory Financing
Finance Lease
Operating Lease
Money Market
Is an IRA considered a liquid asset?
Yes an IRA is a 100% cash convertible liquid asset since there is no mandatory withholding. If you can't repay your IRA account within 60 days, it may incur a tax liability which would need to be worked out with the IRS when you file. If you have to cash out an IRA to meet emergency expenses and can't pay your taxes, the IRS will usually work out a "payment plan" and charge you some interest. Not optimal but technically the asset is super liquid.