What is a creditor bill?

A creditor’s bill allows a judgment creditor to reach equitable assets which, by reason of encumbrances thereon or uncertainties respecting title or valuation, cannot be effectively subjected to the ordinary legal process of execution by way of judgment liens, attachment or garnishment.

Should I pay the original creditor Instead collection?

Working with the original creditor, rather than dealing with debt collectors, can be beneficial. Often, the original creditor will offer a more reasonable payment option, reduce the balance on your original loan or even stop interest from accruing on the loan balance altogether.

What do you call a person you owe money to?

A debtor is a company or individual who owes money. If the debt is in the form of a loan from a financial institution, the debtor is referred to as a borrower, and if the debt is in the form of securities—such as bonds—the debtor is referred to as an issuer.

How to deal with creditors when you cannot pay your bills?

Compare this to the amount you owe to creditors each month. If these amounts are equal, or if you have extra money after your debts are met, then you are in better shape than you thought. Then all you need to do it stick to your budget and continue to pay your debts each month.

How does RBC corporate creditor bill payment service work?

RBC Corporate Creditor Bill Payment Service allows business clients to be enrolled as Billers on RBC’s Online Banking and Telephone Banking services or other electronic channels as they become available.

What happens if I neglect to pay a bill?

If you neglected to pay a bill for a significant amount of time, don’t be surprised if you receive a bill from a new creditor. Your original creditor likely turned your delinquent account over to a collection agency. If you planned to pay the bill, naturally you may try to remit payment to the original creditor.

What should I do if I get collection calls from creditors?

If you are receiving collection calls, explain the situation and your plan. If your creditors harass you and yell at you simply hang up the phone. That kind of treatment isn’t acceptable, even if you are behind on your bills.