Questions tagged [debt]

Liability or obligation to pay or render something to another

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1answer
20 views

If our nation takes on debt now that will have to be paid by gen z later isn't that taxation without representation?

We have representatives but gen z does not. How is it fair to spend their money before they are even old enough to have a say? Was the idea of pushing debt onto future generations so unthinkable that ...
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1answer
86 views

What can be done about unlawful garnishment?

A debt collector claims that you owe a debt. You dispute the debt. The debt collector "garnishes" your debt without the requisite court order. Your employer agrees to do so, and deducts the ...
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1answer
77 views

Can I have a collections report removed from my credit history?

I have a collections report on my credit history. The credit card company raised the minimum payment without notifying me or raising the automatic payment I set up for the minimum amount. I hadn't ...
2
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1answer
30 views

Does settlement of an HOA liens wipe the slate clean?

A house in Missouri was being sold and the owner wanted to negotiate a lower payment to settle the HOA liens because the buyer would not offer him enough money to cover both the HOA dues and the ...
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2answers
71 views

Does Unsecured Debt Have Implicit Collateral?

I am thinking of a simple case. For example, suppose I bought a home, but there is a mortgage where the contract stipulates that if I default, the bank can seize up to 95% of the home value. This 95% ...
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5answers
5k views

What if you and a restaurant can't agree on who is at fault for a credit card issue?

This question established that, if a restaurant is suddenly unable to take all credit cards, and you don't have cash, then it is not a criminal matter and the debt would just be resolved through civil ...
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1answer
84 views

What is the process if a debt collector is unable to identify someone?

What is the process if a debt collector is unable to identify an individual of which they have purchased debt on? I am aware that many of these debt collectors often don't get much information to go ...
2
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1answer
61 views

How is interest calculated on a debt?

For the notice of payment hearing forum it has a section for "payment order" and "interest". How is interest calculated? What percent is it? What time does it start counting from, ...
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4answers
154 views

Bob occupies Anna's parking lot. How could Anna prove it?

Anna owns a parking lot. However Bob frequently uses it as his guests' parking lot for two years. The average rental rate for a parking lot is about $40 a month, totaling about $1000 for the two years ...
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1answer
134 views

Any chance of getting back money I lent?

A few years years ago I lent 50,000$ to a friend in financial trouble and we agreed he'd pay me back when he was able to (though I have no evidence of this other than the bank transaction). We had an ...
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0answers
46 views

Tour operator asks for undue money

Some time ago I purchased a trip from a leading tour operator in Germany (I’m resident of a close-by country). They asked me to provide them with a credit/debit card details so they can collect €1000 ...
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1answer
17 views

Third Party Liability for representations

(I suspect this looks a bit like a homework question. Its not. I have tried to distill the question as much as possible). I'm interested in how this would typically be answered in countries based ...
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1answer
65 views

Odds of credit card debt issuer failing [closed]

Let's say I owe debt to capital one. They fail as a business and the debt passes to another bank. There is a massive banking catastrophe and most banks fail. Now, what are the odds that the debt would ...
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5answers
5k views

Can an estate be forced to sell real estate to cover debt if the home was bequeathed to an adult child?

My mother died in West Virginia. I am her son and the executor of her will, in which the home was bequeathed to me. The estate has insufficient funds to pay medical and other debts. Can WV probate ...
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1answer
145 views

How do courts actually verify a debt case is legitimate

Say someone forges a capital one credit card contract, says they bought the debt from Capone and sues. Will the court just assume the debt is real? Are they seriously going to call Capone and ask? ...
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1answer
67 views

What regulations specify the loan and what regulations specify the credit under US law?

What is a difference between loan and credit in the law system? Let's say US law. What does it mean to grant a loan, use a loan or to have a credit? What regulations describe both credit and loan?
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1answer
34 views

Recourse loan state and Non-Recourse loan state which one prevails?

Someone that lives in a non-recourse state buys property in a recourse state. All signatures where done by mail in their home state. Is it automatically a recourse loan since the property is located ...
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2answers
114 views

Is a patient legally obligated to pay for non-emergency medical services that were not requested by the patient?

Is a patient required to pay for non-emergency services they did not request from a medical provider? For example, a radiology clinic takes an x-ray and then sends it to a 3rd party radiologist for ...
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0answers
21 views

Negative pledge covenants

I am a layperson trying to better understand negative pledge covenants. Is following a correct example of a negative pledge covenant? John borrows $500 from Jane. Jane makes John sign a contact ...
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1answer
97 views

To what extent are a creditor's rights attenuated when debt is sold?

Sometimes a person, A, will run up debts that can't be paid. In these situations, a creditor, X, will often sell the debt to a third party, Y. My understanding is that it will be much easier for A to ...
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3answers
236 views

Is a debt owed by an adult who is supported by parents recoverable?

I am owed money by a 37 year old drug addict. We grew up together and I tried with his father to get him healthy. Over the years, I lent him small sums that added up over time, which we kept track ...
2
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1answer
58 views

Does fraudulent conveyance only apply to bankruptcy?

Say creditor has a judgement and before the judgment I transferred assets to someone else. Can the creditor go after the fraudulently conveyed assets? Or is that only for bankruptcy?
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2answers
47 views

Do federal student loans come with IRS-like arbitrary levy power?

I have a nelnet loan for 10k. If it was tax debt I understand the irs could bypass the courts, give no service and seize my bank account. Does this apply to student loans as well? Or is it limited to ...
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2answers
98 views

Which state's statue of limitations for debts applies, for credit card debt?

I used to live in South Carolina, USA and lost my job. As a result I defaulted on credit card debt. I have not paid anything on it for the last year and the debts were "Charged Off", and are in ...
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1answer
112 views

United Utilities claim for outstanding balance with no move out date

Earlier after signing in to check my credit report, I noticed it had been dropping and discovered that there appeared to be United Utilities (UU) payments in arrears. I contacted them and have ...
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1answer
110 views

I Paid my friend's phone bill now there is a debt collector coming after me

A few months back I had purchased a phone for my friend. The agreement between us was that I would pay for one month and that would be it. The store employee assured me it would not have any recurring ...
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2answers
177 views

What happens to loans issued by a startup if the startup fails?

I live in the U.S. Suppose that I invest $50,000 in a startup company, signing "typical" paperwork for a 55% stake. The founder then uses the money to issue a $20,000 loan at a minimal interest rate ...
4
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1answer
271 views

Credit card debt after the death of the cardholder

Question pertains to United States: California. I am including as much information as may be pertinent. My mother died a few weeks ago. I was estranged from her as my parents divorced when I was a ...
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1answer
39 views

What might be the consequences of not declaring foreign student debt when applying for a mortgage abroad?

When moving to a foreign country I know of many people who have decided not to declare their foreign (United Kingdom) student debt. What might be the consequences for doing so and how might a provider ...
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2answers
5k views

Can my UK debt be collected because I have to return to US?

I am a US citizen residing on a UK work visa and due to a horrible work environment I have decided to resign. Due to the limitations of my visa I am only allowed to work for this specific company in ...
34
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7answers
12k views

What if a restaurant suddenly cannot accept credit cards, and the customer has no cash?

If a restaurant normally accepts credit cards, and a customer eats a meal there, then tries to pay with his valid credit card, and the cashier says the credit card system is down and they can only ...
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3answers
162 views

I lent someone money then they moved out of state and stopped communicating. How do I track down this individual for prosecution?

Against my better judgement I tried to help a fellow renter, my housemate, in a time of need. I had him sign a promissory note and lent him $1200 in Virginia. After the deadline passed I followed up ...
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1answer
90 views

Fraud if a director lies about being unable to pay

Context: Canadian Law; contractor; fraud Would it be considered fraudulence on behalf of the director (specifically CEO) of a company if they were to lie about being unable to pay a contractor, but ...
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1answer
181 views

Possibility of credit card trolling strategy

Let's say I owe 100k in CC debt. The cc company goes to sue. Correct me but civil trials take months, more.for low priority crap like debt collection. Just before the trial date, I find one of the ...
5
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2answers
739 views

Is a surviving spouse responsible for the medical bills of the deceased spouse

My wife died last December and the hospital where she had been receiving treatment is sending bills to the home, in her name, asking for payment. I called them and told them that she was deceased and ...
6
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1answer
3k views

Is this story about US tax office reasonable?

Ages ago I read a nice story that sounds quite reasonable, but might be complete nonsense. Here it goes: A private detective in the USA has lots of lawyers as customers. And they are notoriously ...
12
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2answers
2k views

Student Loan from years ago pops up and is taking my salary

Summary: For decades I had my student loans paid by automated payment from my bank without a problem; just take it out of my bank and there's a small benefit in interest for it. Recently, my ...
2
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1answer
125 views

What's the next step if a debt collector doesn't respond to my debt dispute?

A month ago I received a debt collection letter about an alleged unpaid tax bill. I did not recognize the bill, and had definitely never heard of it before this, so I sent them a letter within a few ...
5
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2answers
959 views

Wet Ink Signatures

Recently I've been pondering something. A lot of encounters with debt collector videos appear on YouTube and various other sites. These videos typically feature people arguing with debt collectors/...
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1answer
225 views

Dispute unpaid debt of a deceased family member

My elderly relative died in December 2018. Her gardener has now (January 2019) sent us an itemised invoice. The items begin in March 2018 and end in November (my relative last left the house in ...
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2answers
31 views

Cancellation of debts in different countries

In my current jurisdiction debts are "cancelled" after ten years unless the creditor has "reminded" the debtor about the debt before that ten year period. If, however, the credit sends a reminder ...
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2answers
55 views

Can I make a contract on behalf of a company before it's incorporated with myself as the liable party?

I'm starting a company and I have investors willing to lend my business partner and I some early capital, but they want a debt convertible instrument in the form of a convertible promissory note. I ...
23
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4answers
11k views

Is a debt canceled if the creditor refuses a settlement offer?

I've been told by several people on several occasions -- in several jurisdictions within the US -- that if you owe someone money, you can offer some stupidly low amount of cash (most versions include ...
0
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1answer
146 views

Is there statutory interest on an unpaid debt, or can I only recover the principal?

I made a no-interest short term loan to a family member and have documentation of the debt, and he did not pay me back in the stipulated time frame. If I take legal means to recover the money owed, ...
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3answers
228 views

Can a debt collector legally demand payment and threaten a credit score effect without validation of the debt until requested?

I live in the state of Maryland. Several years ago I went to the ER to have an injury treated. I presented my insurance at the time of the injury. About a month ago (several years after the ER visit) ...
5
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1answer
525 views

Do legal tender laws prevent “no cash” restaurants?

This story about restaurants that only accept electronic payment set me wondering. I know that under legal tender laws a business can set a policy on what forms of payment it will accept, but that ...
2
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3answers
216 views

Trump offered E. Warren $1 million - can she collect?

Trump said he would donate $1 million to Elizabeth Warren’s favorite charity if she was Cherokee. Since she has evidence for it now, can she collect? What court(s) would/could she sue in if possible/...
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2answers
343 views

What to do about evasive debt collection agency I hired

Please excuse this question if I've overlooked obvious options, but I'm not an American citizen and I live outside of the USA, so I'm not familiar with American legal system, or agencies who might be ...
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3answers
76 views

Is publication of an unpaid debt considered to be libelous?

In the United States, if a debtor is in default, is it considered libel if the creditor publishes the fact that the debtor is delinquent? My understanding is that normally truth is a perfect defense ...
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2answers
41 views

Financial Debt Transaction question, Compliance/accounting laws

I am an IT Database person at our company. Our company does not have a financial transaction interactive program for business users, to log customer debt payments or debt increases. So they are ...