Debt

The following information is provided for educational purposes only and does not constitute legal advice. You may be facing medical debt if you’ve ever been uninsured, underinsured, or had a high co-pay that you couldn’t afford. But what if you simply refuse to pay? Is it ever going to go away? All of these are […]

Debt incurred after marriage is usually recognized as distinct and belongs only to the spouse who incurred it in common law states. The only exception is debts that are solely in the name of the spouse but benefit both partners. For example, credit card debt may be included if the card was used to pay

While PayPal does not effect credit on its own, it does operate a subsidiary called PayPal Credit that has a direct impact on your credit score. PayPal Credit is a program that allows PayPal users to extend the time they have to pay off a purchase made with a revolving line of credit based on

As long as you’re making payments on what you owe, chronic debt shouldn’t damage your credit score in the short run. If you start missing payments, it’ll be a different scenario, and your credit score may suffer. Similarly, if your creditor freezes interest or suspends your account because you require further assistance, your credit score

The quantity or money that a central government owes is referred to as government debt or public debt. This sum could come through the government’s borrowings from banks, public financial institutions, and other external and internal sources. Public debt is unquestionably a burden on the economy as a whole, as the following points demonstrate. 1.

Yes, settling a debt rather than paying the whole amount might have a negative impact on your credit score. When you settle an account, the balance is reduced to zero, but the account will appear on your credit report as settled for less than the whole amount. The creditor agrees to take a loss by

To get the debt dismissed after death, someone will need to show documentation of death to the student loan servicer in charge of the debt. Do you inherit your spouse’s student loan debt? You may be concerned about how marriage will affect your finances if you’re getting married, especially if your future spouse has large

When you get married, you have $30,000 in federal student loans and $40,000 in private student loans. Although your spouse may assist you in repaying your debt, you are the only one who is legally liable. This situation also applies if you marry someone who has taken out federal PLUS loans, which are available to

While auto insurance is not included in the debt-to-income ratio, your lender will consider all of your monthly living expenditures to determine whether you can handle the additional load of a mortgage payment. As a result, if you have a high-priced car that necessitates high-priced insurance, your lender may query you about it. These types

The majority of the time, the answer to this question is no. In most cases, family members, including spouses, are not liable for their deceased relatives’ debts. Credit card debts, student loans, vehicle loans, mortgages, and company loans are all included. Rather, any outstanding debts would be paid from the estate of the deceased person.