Do you have to explain to creditor why you missed payment?

Do you have to explain to creditor why you missed payment?

Legally you don’t have to explain to your creditor why you have missed a couple of months payments, nor supply them with details of your income and expenditure – but if you do, then you are more likely to be able to negotiate a repayment plan. It’s important that you don’t promise creditors more than you can afford.

Can a buyer bear stamp duty on a past transaction?

As the property was bought through a court receiver auction, the buyer approached the Bombay High Court, to direct the sellers to bear the liability on past stamp duty, as one of the sellers had refused to bear the cost.

Are there any recent judgments on delay in delivery of property?

Being aggrieved by the said delay, the Complainant approached the Commission against the Builder.

When to pay TDs on sale of property?

TDS so deducted shall be paid within 30 days from the end of the month in which TDS was deducted. 6. Steps to Pay Tax Online Log on to NSDL-TIN website (www.tin-nsdl.com) or Alternatively person seeking payment of TDS on sale of Property can also use the following link – https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp

Legally you don’t have to explain to your creditor why you have missed a couple of months payments, nor supply them with details of your income and expenditure – but if you do, then you are more likely to be able to negotiate a repayment plan. It’s important that you don’t promise creditors more than you can afford.

What to do if you are sued by a debt buyer?

When it comes to being sued by a debt buyer, you may want to consider defending against the lawsuit as an alternative to settlement or payment arrangements. Debt buyers typically get a scant amount of detail about your debt from the creditor they buy it from.

When does the foreclosure process start if you miss a payment?

In many cases, the foreclosure process starts three to six months after you miss your first payment, assuming you don’t make or catch up on payments. State laws vary, so be sure to work with a legal adviser or your lender to determine what will happen in your specific situation.

What to do if a buyer on a contract defaults?

Talking to an attorney is usually the best course of action if a buyer on a contract defaults. When you carry back a mortgage and you give the buyer the legal title to the property, he gets all of the same protections that he’d get if he went to a bank and got a loan.