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Oxana [17]
2 years ago
12

You recently were hired as a front line debt collection agent for a debt collection service in Michigan. Your boss assigns you t

o a fairly new client. That client shares with you several items: account ledgers showing overdue balances, checks that "bounced" or were returned for insufficient funds, and a list of dates of purchases. Most of the purchases were made more than 6 years ago. Michigan has a six year statute of limitations for the collection of debt, meaning that after six years, one cannot successfully bring a lawsuit to recover old debt. You talk to your boss who instructs you to go ahead and contact the debtors with the standard letter that offers to settle the outstanding debt for 75% of the amount owed. The letter also indicated that failure to either accept the settlement offer within 20 days, or pay off the full amount after day 20 but before day 45, would result in the filing of a lawsuit to collect the debt. As a new collection agent, you know that the Fair Debt Collection Practices Act governs behavior in the industry. Explain why this requested behavior may violate the act.
Business
1 answer:
Softa [21]2 years ago
5 0

Answer:

need

Explanation:

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Neue Inc reports net income of $500,000; during the year, the company declared $100,000 in preferred stock dividends and had an
Nataly [62]

Answer:

1.60

Explanation:

($500,000 - $100,000)/250,000

3 0
2 years ago
Which of the following is not among the chief reasons organizations fail? Multiple Choice overemphasis on short-term financial p
kvv77 [185]

Emphasizing labor productivity in labor-intensive environments is not among the chief reasons organizations fail.

<h3><u>Explanation:</u></h3>

Labor intensive production technique involves the usage of higher amount of labor for the production of goods and services. Here the other factors of production such as capital is used less compared to labor. When we are in a need of producing goods or services only at a small scale then we can opt for the Labor-intensive means of production.

For those organisation that has an environment to be of labor intensive then the process of using  labor productivity  will be appreciated for the success of the organisation. Focusing on the  financial performance in short-term basis, over emphasis on the design of the product, poor communication in the internal organisation,not investing in capital and human resources are the reasons for the failure of many organisation.

3 0
2 years ago
MZE Manufacturing Company has a normal plant capacity of 37,500 units per month. Because of an extra-large quantity of inventory
viktelen [127]

Answer:

sorry if im bothering u

Explanation:

4 0
2 years ago
Which sentences describe points that Miguel should consider in the goal-setting process before he starts to invest?
ki77a [65]

Answer:

First, Miguel arrives at an estimate of the total returns that he wants from his investments.

Explanation:

Plato :)

4 0
2 years ago
Justin signed a finance agreement for his recent purchase.what is the collateral for his loan?
gayaneshka [121]

Answer:

According to the guarantees, the following types of loans can be distinguished:

-Loans with personal guarantee.

-Loans with real collateral.

-Home-backed loans.

Explanation:

The loans with personal guarantee the borrower recognizes the whole of his patrimony, be it the goods and the present and future rights in a general way. In the case of loans with collateral, a specific asset or right is together with the payment of the loan in the event that the borrower cannot pay the obligations contracted.

The fundamental modality is that of loans with a mortgage guarantee, in which the guarantee is a property. In this way, the loan installments are not met. The mortgage, which to be acts as a burden that is associated with the property, in such a way that, if someone obtains the property on which they have a mortgage, they could lose their property if the debt is not paid.

3 0
2 years ago
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