cancelled debt?

February 17th, 2006 by Questions

Can a debt be cancelled automatically?


One Response to “cancelled debt?”

, Barton Goth, GCO Inc. Bankruptcy Trustees said:

If by canceled you mean forgiven then yes this is definitely possible, but rare. Often people assume a debt has been forgiven when the creditor has simply chosen levy collection at a time that more money or assets may be attackable (i.e. if you were unemployed they may choose to wait until you have full time employment so they have some funds they can garnishee).

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)