Questions tagged [debt]

Liability or obligation to pay or render something to another

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1answer
79 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 ...
4
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3answers
226 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
49 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?
2
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2answers
37 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 ...
2
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2answers
68 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
53 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 ...
-2
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1answer
94 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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0answers
17 views

Where to get regulations that regulate debt recovery for utility customers in EU or USA

I am from Latvia and I am researching debt recovery from utility(heat, water, energy) customers. I have no clue where to search for regulations about debt recovery. I would greatly appreciate if ...
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2answers
95 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 ...
2
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1answer
144 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 ...
0
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1answer
35 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 ...
13
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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 ...
32
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7answers
11k 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
155 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
74 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
172 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
288 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
107 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
340 views

Wet Ink Signatures

Recently I've been pondering something - when you see these videos on YouTube and various other sites of people arguing with debt collectors about warrants, one of the most common things they say is "...
6
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1answer
184 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
52 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 ...
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1answer
115 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
181 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) ...
4
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1answer
453 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 ...
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3answers
209 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/...
2
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2answers
231 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
72 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
39 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 ...
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2answers
119 views

Is social security constitutionally protected public debt?

Section IV of the 14th Amendment to the US Constitution says "The validity of the public debt of the United States... shall not be questioned." The Social Security trust fund is currently projected ...
2
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2answers
205 views

What legally happens if the person being sued cannot pay the amount owed. (Special Case)

Here's a situation related to a story that's been in the news lately. I have no experience with any legal situations, so apologies for using incorrect terms/vocab. Conditions: The person being sued ...
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2answers
105 views

Can a tax debt owed to an EU country cause me any trouble in another EU country?

I have recently left my country (Greece) and moved to Germany. While I am employed and everything functions perfectly, I have some debts to Greece's tax collection bureau. While I will be able to pay ...
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1answer
46 views

Deficiency judgement period after foreclosure in IL

A friend entered in foreclosure in 2014, for a condo in Chicago, IL (Chase Bank). Some time later he received a form 1099-C for cancellation of debt for around $9K. I know there's a deficiency but, ...
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2answers
134 views

Can a hospital, or other entity, legally file collections on a debt incurred by a minor's parents?

Say a child goes to the hospital for whatever reason and, because hospitals are expensive, incurs a debt onto the parents. The parents, for whatever reason, elect not to pay. The hospital then ...
6
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2answers
147 views

What can I do about an employer witholding my final paycheck for “damages”?

So I accepted a 2nd job about 8 months ago as an elderly care taker for my landlord's parents. After a year their mental condition had deteriorated enough that I informed by landlord/employer that ...
2
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2answers
208 views

Can a creditor double their money after a default by joint debtors?

Can a creditor double their money after a default by joint debtors? In other words, lets say that two people jointly owe a bank $100,000 and both are fully responsible for the loan. The loan goes ...
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1answer
66 views

General bankruptcy inquiry in Germany

A person lives in Germany and owns a business which is in debt. They are afraid they will lose their child and be sent to "debt jail". Is this a real possibility? Is there any liability protection ...
2
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1answer
836 views

Does tolling apply to the statute of limitations in New York State?

More specifically, for a private unsecured debt with a statute of limitations (SoL) of 6 years in New York State, will the SoL be tolled (paused) if the debtor leaves the state, or the country (or ...
0
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1answer
75 views

Ch 13 Bankruptcy: What happens if you owe too much to repay in 5 years

As I understand it, Ch 13 bankruptcy protects a person by letting them repay their debts over a period of some 5 years. What if a person has more debt than they can repay in 5 years? (In Georgia.) (...
6
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1answer
119 views

Do economic sanctions prevent repaying debts?

Suppose that I lend money to a business or individual associated with the government in Russia, Venezuela, or some other country. Suppose that by the time the debt is due, my country of citizenship ...
3
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1answer
1k views

What rights do second lienholders have in foreclosure actions by primary lienholder?

It is common for real property to have multiple liens against it. The primary or "senior" lien is typically a mortgage lender. Subordinate liens may have attached to a property through loans or ...
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0answers
58 views

Is it possible to sue a UK based company from the US regarding debt collection?

I have a US-based LLC. The LLC is a service oriented company as opposed to product oriented. And all work is performed in the US. A UK-based client is delinquent in payments. The amount in dispute is ...
1
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2answers
129 views

Cell phone with zero usage sent to collections agency

A year ago I briefly had a phone plan in Alberta, Canada where I used absolutely zero data and no calling minutes. I called the phone company in order to cancel the plan on a Saturday, when they ...
9
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1answer
389 views

What would be the consequence of unpaid debt to a French company to a British person?

I live in the Scotland. Leaving out the details, I (allegedly) owe some money to a French company under a contract in French law. If I did not pay this money and was taken to court in France and lost, ...
4
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1answer
266 views

Is a B2B blacklist legal

We have a business client who is a non-payer and we've had enough. Is it legal to share details of this non-paying business to other businesses like mine? It wasn't mentioned anywhere in the ...
1
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1answer
137 views

Collections from a dissolved entity in Florida

If a corporation in Florida owes a business money, but the the debtor entity is now dissolved, what collections avenues are available to the creditor? Furthermore, can the creditor pursue the ...
1
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1answer
524 views

If the damages from a lawsuit force the defendant into bankruptcy, are they forgiven?

Say Bob throws a pool party, and because he's secretly homicidal, he decides to poison the pool water, and many of his guests end up in the hospital. He hires a good lawyer to defend him in criminal ...