Questions tagged [debt]
Liability or obligation to pay or render something to another
140
questions
37
votes
7
answers
19k
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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 ...
- 1,103
34
votes
2
answers
9k
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What happens to a country’s debt if the country ends?
Suppose a country either just calls it quits or is destroyed by war (for example, Yugoslavia or Czechoslovakia). If that country has a national debt, including both domestic and foreign lenders, what ...
- 5,163
22
votes
4
answers
12k
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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 ...
- 2,015
22
votes
5
answers
6k
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What if you and a restaurant can't agree on who is at fault for a credit card issue?
This question established that, if a restaurant is suddenly unable to take all credit cards, and you don't have cash, then it is not a criminal matter and the debt would just be resolved through civil ...
- 5,163
22
votes
3
answers
6k
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In a state with the common law definition of theft, can you force a store to take cash by "pretending" to steal?
If I understand correctly, (a) under common law, theft requires an intent to permanently deprive the owner, and (b) legal tender only applies to debts, not purchases. B is the reason why stores do not ...
- 17.1k
17
votes
5
answers
7k
views
Can an estate be forced to sell real estate to cover debt if the home was bequeathed to an adult child?
My mother died in West Virginia. I am her son and the executor of her will, in which the home was bequeathed to me. The estate has insufficient funds to pay medical and other debts. Can WV probate ...
- 415
13
votes
4
answers
6k
views
Legality of "stealing" assets from Debtors
Yesterday, I watched an episode of a TV show where debt collectors stole valuable assets because their owners didn't pay the monthly rates or when they entered bankruptcy.
The show was recorded in the ...
- 6,476
13
votes
2
answers
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 ...
- 233
13
votes
3
answers
3k
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Is there an inherent legal obligation to repay a guarantor?
So as I understand a guarantor is liable to pay rent arrears if the tenant is unable, unwilling, or just doesn't pay.
I am wondering if such an occasion arose and the landlord contacted the guarantor ...
- 1,966
12
votes
2
answers
6k
views
Is it legal for energy companies to break into a house?
There are a couple of stories in the news about energy firms breaking into houses because of unpaid erroneous bills. The common features of relevance are:
There was debate about the validity of ...
- 7,700
12
votes
2
answers
2k
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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 ...
- 231
11
votes
3
answers
4k
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Does the USA actually have debtors prison or jail after a court order?
Okay, I know officially the answer is "no, there is no such thing as debtors jail for civil debts in the USA", however let's explore this. Suppose a person is sued by a creditor for a debt. ...
- 111
11
votes
2
answers
1k
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What happens to debts when someone dies?
How are debts and loans recovered by the lenders after a borrower passes away? A debt can be as small as 100 bucks for the credit card bill. It can be as big as millions of bucks for mortgage (or ...
- 213
11
votes
1
answer
3k
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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 ...
- 13.7k
9
votes
2
answers
2k
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What is a misrepresentation made after a contract is signed?
Consider the following scenario:
Consumer opens a credit card account with bank, signs cardmember agreement
Consumer uses card regularly, pays bills
Consumer calls bank and closes credit card account
...
- 530