The entire repayment program is supervised by the bankruptcy trustee, who receives funds from the debtor and then repays the creditors. Don't attack the other party personally or blow things out of proportion. The history is a record of all the previous credit related activities of the borrower. Universal Default: It is the practice of increasing the interest rate on the credit provided to a particular customer on receiving the information that he or she has defaulted with other lenders. Effective tax rate is the net rate of all the taxes that a person/business pays on income. Share capital is the capital raised by the company by a public issue of shares in favour of cash. With this letter we are enclosing a duplicate of the bill mentioned herein for your reference. Commercial cards: This is a generic name used for credit or charge cards issued for business expenses, like travel, procurement, and entertainment. Personal loans are of different types, some of which are available to people with bad credit.
The third element that needs to be included in the agreement is the total amount of the loan and the interest rate, plus the receivable interest of the total loan. Global Fund is a type of mutual fund where the fund company can invest in companies located anywhere in the world GMROI is the acronym for Gross Margin Return on Investment. Cash Advance: It is the amount of cash withdrawn on a credit card at a bank office or ATM. Repossession can be voluntary or the creditor may forcibly gain possession of the property, when the borrower fails to meet his repayment obligation. Sales tax is the tax levied on the sale of a product by the government. An accounting theory develops a framework for the accounting procedure.