Debt-To-Income Ratio The percentage of a person's monthly gross income that is spent on paying debts, such as housing and credit card payments.
An amount of money due and payable, from one person to another.
Related Terms: Abatement, or, Creditor ...
Means something that is owed must be repaid such as particular amount of money that has been borrowed.
anything owed is a . This could be bonds, mortagages, promissory notes, etc. could be money outstanding or services/duties which are due.
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"Debt" means any monetary obligation for which a garnishment may be issued under ORS 18.605 (Debts subject to garnishment).
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Financing: A method of financing where the company receives a loan and gives its promise to repay the loan.
Debt is a more extensive remedy for the recovery of money than assumpsit or covenant, for it lies to recover money due upon legal liabilities, such as for money lent, paid, had and received, due on an account stated for work and labor, ...
Bankruptcy, and Consumer Law Legal Terms
BBankruptcyThe process by which federal bankruptcy courts help consumers and businesses in financial trouble to eliminate some debts or repay them under the protection of bankruptcy courts.
debt collector - Someone who is employed in the collections department of a creditor or a collection agency to locate debtors and obtain payment from them.
debtor - A person or entity who is obligated to repay money to a creditor.
. Whatever one owes. Rodman v. Munson, 13 Barb. 197 (1852). See Debet. A sum of money due by certain and express agreement. 3 Bl. Com. 154.
n. 1) a sum of money due to another. 2) obligation to deliver particular goods or perform certain acts according to an agreement, such as returning a favor. 3) a cause of action in a lawsuit for a particular amount owed.
RELIEF AGENCY (also see Assisted Person)
Any person who provides any bankruptcy assistance to an assisted person in return for the payment of money or other valuable consideration.
DEBT, contracts. A sum of money due by certain and express agreement. 3 Bl. Com. 154. In a less technical sense, as in the "act to regulate arbitrations and proceedings in courts of justice" of Pennsylvania, passed the 21st of March, 1806, s.
An arrangement for dealing with unpaid debts that is less formal and intrusive than bankruptcy (q.v.).
Debt backed by a mortgage, pledge of collateral, or other lien; debt for which the creditor has the right to pursue specific pledged property upon default. Examples include home mortgages, auto loans and tax liens.
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Secured - In bankruptcy proceedings, a is secured if the or gave the creditor a right to repossess the property or goods used as collateral.
Secured signature bond - A signature bond secured by mortgage or real property.
Secured Debt - In collection or bankruptcy proceedings, a debt is secured if the debtor gave the creditor a right to repossess the property or goods used as collateral.
Definition - Noun
[Old French dette, ultimately from Latin debita, plural of debitum , from neuter of debitus, past participle of debere to owe]
1 : something owed: as
a : a specific sum of money or a performance due another esp.
Debt Relief Legal Clinic of Michigan PC 4710 West Saginaw Highway Suite 7, Lansing, MI
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A person who works in the in-house collections department of an original creditor or a collection agency to track down ors and get them to pay what they owe.
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A that is not paid on the due date adds up and accumulates as "arrears". For example, if you do not pay your rent, the still exists and is referred to as "arrears".
Debt in which debtor gives creditor a right to repossess property or goods (called collateral) if debtor defaults on the loan.
Use of force to protect one's self, family or property from harm or threatened harm by another. ...
n. an uncollectible . The problem is to determine when a ...
1) n. intentional dishonest act by not fulfilling legal or contra...
Fair Debt Collection Practices Act (FDCPA)
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Claim -A debt owing by a debtor to another person or business. In probate parlance, the term used for debts of the decedent and a procedure that must be followed by a creditor to obtain payment from his estate.
A or duty that cannot or ought not to be levied. Nihil set upon a is a mark for illeviable.... more ...
Arrears: A debt that is not paid on the due date accumulates as "arrears." For example, if the rent is not paid, the debt still exists and is referred to as "arrears".
Set Off: A or financial obligation of one spouse that the court weighs against a or financial obligation of the other spouse.
Settlement Agreement: The written version of the settlement.
Unliquidated debt - Remaining not determined; unassessed or unsettled; in dispute as to the proper amount.
Abatement A reduction in some amount that is owed, usually granted by the person to whom the is owed. For example, a landlord might grant an abatement in rent.
It could be a debt or a promise to do something. To say a person is "liable" for a debt or wrongful act is to indicate that they are the person responsible for paying the debt or compensating the wrongful act.
Charge: Form of security for payment of a .
Chattels: Moveable items of property which are neither land nor permanently attached to land or a building.
The damages thereupon constitute a debt that takes priority over all other obligations of the defendant except taxes and previous judgments.
Such atimia could be partial or total; it could be imposed permanently by a court, or it could be the (theoretically) temporary result of an unpaid to the state, a condition which would automatically terminate if the were ever paid off.
A guarantor undertakes that he will repay a debt incurred by another person or company to a bank or other creditor and the bank or other creditor can require him to pay the outstanding amount if that person cannot or will not pay their indebtedness.
a rate of interest on a which is exorbitant and in excess of the percentage allowed by law. Each state sets its own maximum interest rate.
The seizing of a person's property, credit or salary, on the basis of a law which allows it, and for the purposes of paying off a debt. The person who possesses the assets of the debtor and is the subject of the seizure is called a "garnishee".
foreclosureA foreclosure is a process initiated by a lender to satisfy unpaid by selling a house/apartment at an auction. Depending on the state laws, it can be either judicial or non-judicial.
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