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Does cosigning for a vehicle lease obligate you to other debts the person has?
Wiki User
∙ 8y ago
No. It will become a part of your credit report and will have some effect on your debt to income ratio.
Wiki User
∙ 8y ago
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If cosigning for your mother can impact you negatively when buying your own home how can you help her?
Pay off all her debts yourself if you can.
You signed as your mother's legal representative are you responsible for her medical bills?
You would be responsible only if you signed a written agreement with the care facility and/or physicians to pay her medical debts. Being a legal representative (POA) does not obligate that person to take personal responsibility to pay the grantor's (named person's)debts outside of the ability of the grantor (named person) to pay debts using his or her income/financial resources.
When a person dies is the remaining daughter responsible for the debt of credit cards?
No. The deceased person's estate is liable for any of the debts of that person, but heirs are not liable for debts if the assets in the estate are not enough to cover the debts.
Who is a sole proprietor?
A sole proprietor is a person who owns the business and is personally responsible for it debts.
Correct definition of a person who is bankrupt?
A person who can not pay his or her debts
How much will cosigning a student loan lower your credit score?
Hi-Cosigning a loan will not lower your credit score unless payments are late, or if the borrower defaults and you cannot make the payments yourself. A cosigner is equally liable for the loan, so if you cannot make the payments, you should not sign.The way that cosigning will affect your credit report is in your debt-to-income ratio. The loan you cosign will show up as part of your debt, so a lender may not want to loan you more money if it looks like your debts are too high.Something that people often overlook though, is that cosigning a loan can actually improve your credit rating if the borrower makes his payments on time. You will get credit for making payments and paying off this debt as if it were your own.
If you get married are your debts your spouses?
When you marry someone the two of you become one. That means that any debts one person has now becomes both peoples debts.
Choose the correct definition of a person who is bankrupt?
a person who cannot pay his or her debts
What is the correct definition of a bankrupt person?
A bankrupt is a person who cannot pay his or her debts.
What happens to a debt if a person has nothing in the estate?
The executor will show the plan to the court. It will include all debts and all assets. If the debts are more than the assets, the debts will be cancelled.
What are some companies that can help a person get their debts settled?
There are a variety of companies that can get a person settle their debts. Some companies include the following: Debtmerica, Costa Credit Solutions and CuraDebt.
Can an executor sell a vehicle to a family member even if there is not enough money to pay all creditor's?
They can sell the vehicle to anyone. That allows them to get money to pay the debts.
