or even less.. AND NO I AM NOT GOING TO PRISON, a programme I am watching now got me thinking??
2006-12-24 08:08:36 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
so if the person goes to prison for 1 year.. they come back to lots of debt letters? LOL I'm just watching Casualty and thinking about htis women who's bound to go to jail for trying to kill her kid and the paramedic...
2006-12-24 08:12:07 · update #1
errr. BRIAN B I AM NOT GOING TO PRISON!!! WHY CAN;T PEOPLE READ THE QUESTION!!! I AM STUDENT HAPPILY LIVING MY LIFE!!
2006-12-24 08:31:49 · update #2
OK SORRY APOLOGIES TO "BRIAN B"... BRITISH HUMOUR MUST BE DIFFERENT AS I DIDN'T GET THE JOKE.. SORRY!!
2006-12-24 08:40:39 · update #3
I beleive there is a process whereby a person going to jail has someone they know or family take care of those things for them. You could do a full or limited power of attourney, or of course you could just blow it all off if you have a long sentence because who really cares then, lol. Sorry to hear you're going to prison, and here's hoping for as few slippery bars of soap as possible.
GEEZ, I was just kidding about you going to prison.
2006-12-24 08:21:57 · answer #1 · answered by The Scorpion 6 · 1⤊ 6⤋
This is a totally academic question; meaning, no one, including the hypothetical prisoner involved, is really going to care what the answer is. Someone being released from a year in jail is concerned most importantly about building a great future, and shedding all baggage from the past. Even one (1) year is long enough that if it's on your credit record and it's not something huge like a $ 10,000+ federally guaranteed student loan, the "weight" on the credit score is minimal. They're going to be concerned about living on an all-cash basis, a very sound way to live anyway; financially, and not worry at all about opening new credit lines. They'll likely find a new city and start afresh with hope for the future and lessons learned. Past debts will be about the 49th thing on their priority list that they care about.
2006-12-24 09:27:22 · answer #2 · answered by JackN 3 · 0⤊ 0⤋
Actually after 20 years you may still owe the money. Bad debts are sold to 2ND and 3rd parties. The debt becomes a BRAND new debt once it is sold. So every time it changes hand usually for pennies on the dollar you are now in debt to a new creditor. It will continue to stay on your credit report and renew every time it changes hands. So, when you are released after 20 years the courts will send you back to jail for violating your parole and failing to pay a bad debt, lol. It's a vicious cycle.
2006-12-24 08:21:49 · answer #3 · answered by mjorod 4 · 0⤊ 0⤋
If the creditor doesnt contact the debtor for six years then they are out of time for taking court action. So all they do is ask for the money and the debtor says no cos he cant be forced to pay through court. However if the creditors knows youre in prison and contacts you regularly you are still liable for it.
2006-12-24 08:15:40 · answer #4 · answered by jeanimus 7 · 0⤊ 0⤋
u would be sur prised at what happens. i've been behind the walls for a short stint. 1yr. but a child hood friend of mine is doing over 200hundred[236]. he has won law suits because he had possessions before being framed by the authorities. that's what happens when u piss on the local Fed's. at least that's how it was perceived.
2006-12-24 08:35:17 · answer #5 · answered by Anonymous · 0⤊ 0⤋
After 20 years, I doubt if you can collect any of them, unless the person volunteers to pay.
2006-12-24 08:11:36 · answer #6 · answered by Anonymous · 0⤊ 0⤋
the debts are all wiped after 6 years.
2006-12-24 08:10:39 · answer #7 · answered by needtoknow 2 · 0⤊ 0⤋
I hope I never have to find out.
2006-12-24 08:17:45 · answer #8 · answered by lynda_is 6 · 0⤊ 0⤋
The debts die!
2006-12-24 08:15:47 · answer #9 · answered by markos m 6 · 0⤊ 0⤋
consumed
2006-12-24 08:16:32 · answer #10 · answered by Anonymous · 0⤊ 0⤋