Debt

If you haven’t paid your medical expenses for a long period of time, this cannot happen. However, that is the case. You can be sued by a medical debt collector. Lawsuits are possible if you do not pay the collection agency. Can you ignore medical debt? The norms and procedures governing medical expenses may change […]

The legal process of dissolving a business necessitates meticulous execution. The following is a brief description of the process. Shareholders’ Consent In order to dissolve a federal corporation, two-thirds of its shareholders must agree. A two-thirds majority vote is required for the dissolution of a corporation if it has distinct “classes” of shares. Settling Debts

If you have a little balance on your credit card and pay your minimum payments on time, your mortgage application will not be affected by this debt. In contrast, a history of late payments or a big credit card debt, especially when paired with other forms of debt, can significantly restrict the amount of money

If you don’t pay back your debts, you won’t be sent to prison. Can you get imprisoned for not paying debt? If you can’t pay off your credit card debt, will you go to jail? No, that’s the short answer to your query. Non-payment of debts is exclusively a civil matter and cannot be used

Many people believe that filing for bankruptcy does nothing to eliminate one’s tax debts, whether they are owing to the Canada Revenue Agency (CRA) or to the province. Contrary to popular belief, this is not true at all!! Only a few of debts are exempt from discharge in bankruptcy. Bankruptcy will wipe off all of

As separate legal organizations, limited liability corporations, or LLCs, are distinct from their owners. This means that the owners of the firm are not personally accountable for the company’s debts or obligations. In the same way, the business is not liable for the personal debts and responsibilities of its owners. If the obligation is a

Creditors can take your earnings if you don’t pay your bills, but what if your only source of income is Social Security? Depending on the nature of the loan, the answer is yes or no. Social Security cannot be used to pay most sorts of debt, including credit cards, medical expenses, and personal loans. In

SSI payments cannot be garnished or levied against. If you owe money to other federal agencies, such as the Department of Education, Treasury’s Financial Management Service can use your Social Security income to offset or lessen those debts. Can debt collectors garnish SSI? Debt collectors can’t take your Social Security or Veterans Administration benefits directly

For unpaid federal student loans, taxes, and court-ordered payments, a portion of your Social Security income might be garnished. Can they take student loans out of Social Security? For unpaid debts like back taxes, child or spousal support, or a federal student loan in default, the U.S. Treasury can garnish your Social Security income. Garnishing

In the event that you default on your student loans, your creditors might seize your salary. A creditor’s ability to garnish your wages and file a lawsuit depends on whether or not your loan is a federal student loan. Garnishment laws for federal and private student loans are outlined in the following sections of this