Debt

A debt amortization proceeding under Section 128.21 is a court-supervised, trustee-administered debt repayment plan that pays 100 percent of scheduled debts over a period of no more than three years and is available to wage earners who are unable to meet their current obligations but can afford the payments under such a plan. What is […]

Mr. A (debtor) and Mr. B (creditor) sign a credit agreement, but Mr. A fails to make his payments according to the terms of the agreement, and he receives a letter demanding immediate payment of the whole amount owed. Mr A is unable to make the full payment and contacts the creditor in the hopes

A foreclosing party (the “bank”) must file a case in court to foreclose in states that use a judicial foreclosure process. As part of that process, the bank—or the bank’s servicer on behalf of the bank—files a “affidavit of indebtedness,” which tells the court how much the homeowner owes the bank. You may have a

Back taxes are taxes that were not paid in full or in part during the year in which they were due. Back taxes might be owed to the federal, state, and/or local governments. Interest and penalties accrue on back taxes on a regular basis. How do I get rid of back tax debt? Tax Debt:

A HECS debt may be considered the same as a conventional loan, depending on the lender. That said, it shouldn’t prevent you from getting a home loan; it’s just something your lender will take into account when determining your borrowing capacity. Take a look at how much you still owe before applying for a house

An investor lends money to a firm in a debt round, and the company commits to return the amount with interest. Is debt financing good or bad? Debt finance has both positive and negative aspects. It is a smart alternative if a corporation can use debt to boost expansion. However, the corporation must be certain

No, if a person dies with a debt, the loan does not disappear. In most cases, the estate of the deceased person is responsible for settling any outstanding obligations. The personal representative, executor, or administrator is in charge of the estate’s finances. Any debts are paid from the estate’s funds, not from the individual’s own

A debt purchase agreement is a contract between a creditor and a collection agency or private debt collection law firm in which the collection agency promises to buy delinquent or charged-off debts for a percentage of the debt’s face value. After then, the debt buyer can repackage and resell sections of the portfolio, collect the

Yes, Navy Federal will settle debt, usually for roughly half of the original amount owed. The settlement percentage is influenced by a number of factors, including the age of the debt, whether Navy Federal has sought the services of a debt collection agency, and the debtor’s financial status. Because creditors are under no duty to

A ClearOne Certified Debt Specialist can negotiate with your creditors to gain you repayment concessions, which often result in you paying less than the amount you owe, allowing you to get out of debt faster. You are not walking away from your debts by using debt resolution. Rather, you’re working out a deal with your