Archive for the ‘Debt’ Category
Can debt collectors charge interest on purchased credit card debt?
A web user asks, I would like to know if interest can be charged. It wasn’t supposed to be in the past but with the increase of purchased debt it seems debt collectors are making their own rules as they go.... read more
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Why are the debt to equity ratios so high for banks compared to other companies generally?
A web user asks, For example, the net gearing ratio (debt-to-equity) for banks like ANZ or NAB are in the high numbers (1000 something %). Why is this? How does this high ratio indicate how the bank is performing financially compared to other companies within the industry or to other companies generally?... read more
How does a debt collector work, if I trasfer a debt for a discounted cash payment, when do I pay them?
A web user asks, Do I pay them straight away or when the debt is covered? What happens to the debt? when and how is it paid?
I have a trade debt, $10K and transfer it to debt collector for $8K cash, do I pay them immediately or after they collect the debt?... read more
How to confirm if you have a legitmate debt when debt collectors are sending letters?
A web user asks, How to check to see if the debt is really legit? I know there’s a statute of limitations of 7 years that prevents debt collectors from contacting you but what happens to the debt after that time frame?... read more
does disputing a debt on your credit report re-start the statue of limitations?
A web user asks, I disputed some items through Experian and Equifax. Does simply disputing the debt re-start the 7 year count down?... read more