Debt

If you don’t pay a medical bill, you could lose your house. However, this is extremely rare. A medical creditor, as contrast to a mortgage lender, does not have a security interest in your home. That complicates the process of foreclosing on your home to collect on your debts. However, if a creditor adheres to […]

As separate legal organizations, limited liability corporations, or LLCs, are distinct from their owners. This means that the owners of the firm are not personally accountable for the company’s debts or obligations. In the same way, the business is not liable for the personal debts and responsibilities of its owners. If the obligation is a

CFPB estimates that a borrower’s debt-to-income ratio (DTI) must not exceed 43 percent in order to qualify for a mortgage. A borrower’s debt-to-income ratio (DTI) might be as high as 50 percent in some situations, depending on the loan arrangement. Can I refinance my house with high debt-to-income ratio? Wells Fargo Home Mortgage in Columbia,

After a debt has been transferred to collections, you may still be able to negotiate a repayment plan with the lender. Rather than dealing with debt collectors, working directly with the original creditor can be advantageous. There are times when your initial loan provider offers you the option of paying less or forgoing interest entirely

If your student loans are in good standing and you are making on-time monthly payments, you usually cannot settle. Even if you’ve been a bit late on your previous payment, you’re normally ineligible until your loan has been declared in default. When negotiating a settlement, lenders normally won’t settle until they’ve exhausted all of their

As long as the debt is manageable, it isn’t a concern. If you’ve got a lot of debt and a poor history of paying it back, you may not be able to get a mortgage at all because of this. How much debt can I have and still get a mortgage? The debt-to-income ratio is

If you don’t pay back your debts, you won’t be sent to prison. Can you get imprisoned for not paying debt? When you can’t pay your credit card bill, will you be sent to prison? To put it simply: No. “non-payment of debts are exclusively civil in nature and cannot be a basis for a

Most people don’t understand that they can be made to pay off the debt of another person’s credit cards. It’s feasible to assume that risk without knowing the repercussions, even if it’s unusual. When are you accountable for someone else’s debt? You can be held liable for someone else’s debt in three different ways: When

After all of this, courts will use the Federal Child Support Guidelines to determine how much support has been reduced for each year since the date of retroactive application. Framework: Retroactive Increase Recipients seeking retroactive increases in child support payments because their payor’s income has increased significantly in the past will follow a similar approach,

It’s understandable that you’d wonder if, in the event of the death of a close family member like a parent, sibling, or brother, their debts would automatically pass to you. In most circumstances, you don’t inherit a family member’s debt. When a borrower dies, his or her debts cannot be transferred to his or her