If the interest price on this debt is reasonable, , her total payment on a $3,000 debt is closing in on $6,000! You would think it would end up being paid off by right now.
However, your friend’s issue is certainly not uncommon. After all, if phrase gets back again to the unique lenders or the better business bureau that they perform not, they can drop business.
Ten years following the last activity, however, a credit card debt is uncollectible. The statute of limitations begins the date of the last payment or other activity generally, including any right time you reaffirm the financial debt. In your case, even if the precise start time for the statute of limitations is usually somewhat different than you remember, you should be in the crystal clear still. Furthermore, many financial aid managers can end up being reluctant to take steps that might end up being seen as rewarding “bad behavior” such simply because a personal bankruptcy filing after accumulating debts thanks to irresponsible spending.
Unlike the indirect method, when cash flow statements are generated through the direct method, it’s considerably simpler to find where cash payments were produced and where cash payments were received. Probably this means that teams in states such as for example california, with high income taxes, should pay their athletes more to be able to compensate? That’s a complete other debate.