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[9] [15] In some cases, interest rates may exceed the minimum required payments, leading to increases in overall indebtedness even for those who succeed in making regular payments. [15] If the debt is effective throughout the duration of a prison sentence, inmates accumulate years of interest prior to their release, and may be unlikely to make ...
Hush money can be money paid in exchange for a non-disclosure agreement. It can also be an agreement to say that something did not happen even though it did, even in court testimony. The latter type of agreement can be a criminal act itself as an obstruction of justice or perjury. The payment of hush money may or may not be illegal, depending ...
Imprisons debtors as a penalty for failure to pay criminal justice debt. Allows imprisonment of debtors for child support debt, applies 12% interest; A city government in Alabama that imprisoned debtors for fees resulting from the use of a private probation company was halted by Circuit Court Order as being a modern debtors' prison. (2012) [8] [61]
It has agreed to pay a criminal penalty of $252.3 million and forfeit $36.7 million, though it would get a $7.4 million credit against the expected related settlement with the SEC.
Accord and satisfaction is a settlement of an unliquidated debt. For example, a builder is contracted to build a homeowner a garage for $35,000. The contract called for $17,500 prior to starting construction, to disburse $10,000 during various stages of construction, and to make a final payment of $7,500 at completion.
Together they take a loan from a bank and the loan agreement specifies that they are to be jointly liable for the full amount. Alex moves overseas and ceases to make payments. The bank is entitled to sue Bobbie for the full amount. However the creditor has only one cause of action; i.e., they can sue for each debt only once. If the claim fails ...
The settlement includes those who received erroneous overdraft fees in their checking accounts, misapplied payments in their auto loans and even negligent foreclosure proceedings.
Debt consolidation loan: A loan gives you a lump sum of money you can use to pay off your current outstanding balances. This arrangement works great if the consolidation loan has a lower overall ...