Whether you're borrowing money or providing a loan to someone else, a Promissory Note is usually the best way to establish a record of the transaction and make sure that repayment terms, for example, are clear and fair.
However, an “IOU†is generally regarded as only an acknowledgment of a debt, not a promise to pay the debt. However, this form is a written promise to pay a debt.
When it comes to credit card debt relief, it's important to dispel a common misconception: There are no government-sponsored programs specifically designed to eliminate credit card debt. So, you should be wary of any offers claiming to represent such government initiatives, as they may be misleading or fraudulent.
$5,000 in credit card debt can be quite costly in the long run. That's especially the case if you only make minimum payments each month. However, you don't have to accept decades of credit card debt.
If you're carrying a significant balance, like $20,000 in credit card debt, a rate like that could have even more of a detrimental impact on your finances. The longer the balance goes unpaid, the more the interest charges compound, turning what could have been a manageable debt into a hefty financial burden.
Settling is always better than going to court. A court-ordered judgment is SERIOUSLY life-affecting. Your wages could be garnished and the judgment will forever be on your record. You may even find the court case in various places on the internet.
O Any person 18 years or older may file a Small Claims Complaint with or without a lawyer. People under 18 must have a lawyer. o A corporation can also file a Small Claims Complaint. However, it must be represented by a lawyer.
Generally, when you are served, you are considered to be on notice that the plaintiff has filed a lawsuit against you. Being on notice of the lawsuit triggers your responsibility to respond to the lawsuit within a certain time period or risk the plaintiff winning by default because you did not answer.
You can attempt to negotiate a settlement. Unfortunately, you cannot force the creditor to settle; however, if you may an offer they accept then it will settle. If you can settle the case quickly and well before the response deadline then you may not have to file a response.
Which debt solutions write off debts? Bankruptcy: Writes off unsecured debts if you cannot repay them. Any assets like a house or car may be sold. Debt relief order (DRO): Writes off debts if you have a relatively low level of debt. Must also have few assets. Individual voluntary arrangement (IVA): A formal agreement.
: very thankful for something that someone has done for one.
Indebted, bound, owing, grateful, obliged, in debt, obligated,
