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What is a debt?
owe money
What happens when parents die and their debt is more than the assets by over 60000 in credit card debt and is this debt cancelled?
the debt dies with them... you owe nothing
When you owe money to someone it is called?
debt
What the meaning of if you die in debt you have made a profit?
Profit is when you increase the amount of money you have at someone else's expense. If you die in debt, then the money that you owe will never be repaid - so in terms of your life, you have made a net profit. You have received money that you will never repay.
What does it mean if you are in debit?
It means you have money. But if you're in DEBT, you owe money.
What information can you gather from a debt collector?
A debt collector can tell you and is required by the FTC to provide you in writing the name of the person or company you owe the money to, the amount of the debt, and what you can do if you think you do not owe the debt. If you need to know more information about debt's you owe,contact the FTC.
If you owe money to a person what is your economic condition called?
Debt.
when is the right time to do a debt iva?
To be eligible to do a debt iva you need to owe at least $2000 and owe money to at least two creditors, incuding banks, credit cards, etc. The best time do a debt iva is before you get too far in over your head.
What is a debt ceiling?
Debt ceiling is the limit on how much money the US Federal government can owe.
Can you challenge a debt?
Absolutely! It is your right as a US citizen to challenge anybody who says you owe them money. If they cannot produce the proof that you owe them that debt, then they cannot legally attempt debt collection on you.
Can debt collectors take settlement money?
Debt collectors can indeed take settlement money from someone if they owe debt. These collectors may take from what they need to.
What does it mean to be in the red with expenses?
To be in the red is to have overspent, to be in debt, to owe money.
