Generally, refusal by the creditor to receive money does not discharge the debtor from the obligation to pay the debt. This is because the debt is not extinguished by the mere refusal. It is the debtor's duty to look for the creditor and pay back the debt, which seems to be what you did.
Debt collectors can refuse a payment plan. They're not under any legal requirement to accept smaller payments over a period of time. Usually they're going after the full amount, because obviously, debt collectors gotta collect. But this doesn't mean they won't work with you.
When a creditor refuses a tender of payment, it does not cancel the debt. Instead, the legal obligation to repay remains in effect, and the debtor must still fulfill their obligation to pay. This means that the debt is not canceled and can still be enforced against the debtor.
Most bailiffs will accept an offer of a repayment plan if it means they will receive a portion of the debt as opposed to nothing at all. However, they are not obliged to accept any offer of payment and are within their right to refuse it if they think it's unacceptable.
Your creditors do not have to accept your offer of payment or freeze interest. If they continue to refuse what you are asking for, carry on making the payments you have offered anyway. Keep trying to persuade your creditors by writing to them again.
Taking action means they send you court papers telling you they're going to take you to court. The time limit is sometimes called the limitation period. For most debts, the time limit is 6 years since you last wrote to them or made a payment.
When creditors refuse payments, it's usually because company policy prohibits it. It can't hurt to ask and if your first offer is declined, ask what they feel is an acceptable payment. You may have to negotiate for awhile and what ever you do, DO NOT agree to terms that you cannot afford.
If you do not tender shares in the tender offer, those shares will be cashed out in connection with the merger and you should receive payment for those shares, generally within 7-10 business days after the merger.
Effect of refusal to accept offer of performance. - Where a promisor has made an offer of performance to the promisee, and the offer has not been accepted, the promisor is not responsible for non-performance, nor does he thereby lose his right under the contract.
Debt collectors cannot harass or abuse you. They cannot swear, threaten to illegally harm you or your property, threaten you with illegal actions, or falsely threaten you with actions they do not intend to take. They also cannot make repeated calls over a short period to annoy or harass you.
Specifically, the rule states that a debt collector cannot: Make more than seven calls within a seven-day period to a consumer regarding a specific debt. Call a consumer within seven days after having a telephone conversation about that debt.
If you are struggling with debt and debt collectors, Farmer & Morris Law, PLLC can help. As soon as you use the 11-word phrase “please cease and desist all calls and contact with me immediately” to stop the harassment, call us for a free consultation about what you can do to resolve your debt problems for good.
Yes, a debt collector can refuse your settlement offer. Debt collectors are not legally required to accept less than the full amount owed on any account, no matter how reasonable the offer might be.
Yes, a mortgage company can refuse payment.
However, they can pass the debt back to your original creditor who can apply for a court order known as an 'order to obtain information' that allows them to access your bank accounts. This may mean you're invited to a court hearing to answer questions about your financial situation under oath.
As a small shareholder, rejecting a tender will often be in vain since it takes a majority of votes to effect a corporate action such as that. Large shareholders who reject a tender may prevent the company from going private, but may also trigger legal action by the issuer.
Are tender offers hostile? Tender offers can be hostile if they are made directly to shareholders without the approval of the company's board of directors. This type of offer is often used in hostile takeover attempts when the board opposes the acquisition.
Stockholders of public companies that go private typically sell their shares at a premium and exit the business entirely. In rare scenarios, the shareholders receive equity in private companies.
Don't give a collector any personal financial information. Don't make a "good faith" payment, promise to pay, or admit the debt is valid. You don't want to make it easier for the collector to get access to your money or do anything that might revive the statute of limitations.
Debt collectors are not permitted to try to publicly shame you into paying money that you may or may not owe. In fact, they're not even allowed to contact you by postcard. They cannot publish the names of people who owe money. They can't even discuss the matter with anyone other than you, your spouse, or your attorney.
As you may have guessed by now, the short answer is: it depends. Here are some scenarios: Time-barred debt: If the statute of limitations has expired (which in many states would be the case after 10 years), the creditor cannot legally sue you for the debt. However, they may still attempt to collect through other means.
Most negative items should automatically fall off your credit reports seven years from the date of your first missed payment, at which point your credit score may start rising. But if you are otherwise using credit responsibly, your score may rebound to its starting point within three months to six years.
The court will only order a prison sentence for debt as a last resort, once all other attempts at securing repayment have failed. Most common household debts will not result in a prison sentence. Examples of debts that you cannot be sent to prison for include: Credit cards.
Under the Limitation Act (1980), a CCJ can only be enforced within six years of it being issued. After this time, your creditor can no longer pursue you for statute barred debt unless they are granted permission from the court to extend the CCJ.