Can A Creditor Ask A Debtor To Reaffirm The Debt?
Yes, this means that the creditor is asking that the debtor pay the debt anyway, even after it has been discharged. A debtor may be willing to do this if there is a cosigner or guarantor of the debt (such as a family member, friend or employer) that the debtor does not wish to leave saddled with the debt. Also, a debtor may want to reaffirm a debt in order to avoid having a secured creditor take the collateral provided for the debt. A creditor may also ask a debtor to reaffirm the debt before he (the creditor) will agree to do business with the debtor again.
Other Mississippi Collections-Creditors Rights FAQs
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Q:
How does a collection agency work?
A: When a collection agency is involved in the collection of an unpaid debt, the debtor sends one payment each month to the agency. The agency's gets a portion of …
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Q:
Who Is The Judgment Debtor?
A: A judgment debtor is the person against who a judgment has been entered which remains unsatisfied. An unsatisfied judgment is typically reflected in a credit report on …
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Q:
What Is a money judgment?
A: A money judgment in a civil matter is an order issued by a court that one party to the lawsuit is to pay the other party a sum of money. The amount of the money …
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Collections-Creditors Rights Sub-categories
