Debt

A collection agency or debt collector can only withdraw money from your bank account if it obtains a judgment against you, according to federal law. According to Section 809 of the Fair Amount Collection Practices Act, the collection agency must give you 30 days to pay the debt via written notification. Following the 30-day period, […]

Assume you are a director of a struggling firm that owns and operates a small business that has suffered considerable losses over the last three years and is unable to pay its creditors. You and the other directors, as well as management, are considering applying for bankruptcy protection, but believe that if the firm can

You might be asking how to erase paid collections from a credit report if you don’t want to wait seven years for them to disappear from your credit record. When a debt is “sent to collection,” it means the lender has given up trying to collect the amount from you. Instead, they’ve enlisted the help

If you’re being requested to pay a time-barred obligation that isn’t yours, was already paid off, or is otherwise illegitimate, you can dispute the debt in writing. Can a statute barred debt be enforced? You might be wondering if you still have to pay an old loan. Is it really possible for your creditors to

If you violate this condition, your visa may be revoked, and you may be barred from receiving future visas. Debts incurred before to November 18, 2017 are unaffected. A debt is acquired when health care is provided rather than when it is billed. Only services given on and after the beginning date may be considered

When a debt’s status on credit reports is changed to make it appear as a newer debt, this is known as re-aging. Debt collectors are prohibited from re-aging credit accounts. The Fair Credit Reporting Act considers re-aging to be a significant violation. Credit accounts that have been re-aged make older negative accounts appear newer, which

Is it possible to boost shareholder wealth by altering capital structure? The first question to answer is what capital structure entails. A company’s capital structure refers to the combination of stock and debt financing it employs to finance its assets. Some businesses may be entirely funded by equity and have no debt, while others may

Unsecured obligations, such as credit card debt, medical expenses, and unsecured personal loans, are often discharged in a Chapter 7 bankruptcy. At the conclusion of the process, which usually takes four to six months, the court will discharge these debts. Some unsecured obligations aren’t routinely discharged in a Chapter 7 bankruptcy, including: Your creditor may

In the United Kingdom, debt is not inherited, therefore relatives, friends, or anyone else cannot be held liable for the obligations of the deceased. If you had a joint loan or arrangement with the deceased individual, or if you offered a loan guarantee, you are only accountable for their debts. In other words, you are

Losing a loved one is a particularly tough experience. While money is likely the last thing on your mind as you grieve, it’s critical to understand how the assets and obligations left behind will affect you and others. The majority of the time, a person’s debt is not passed on to their spouse or family