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What else can I help you with?
Is a wife responsible for any debt of her husbands prior to marriage?
No
Can your house be taken for unsecured debt in Illinois?
In general, an unsecured debt cannot lead to the forfeiture of a solid asset like a house. Unsecured debt is not tied to collateral.
In Texas is the wife of a deceased husband responsible for the husbands debt?
She is not directly responsible. The estate is going to be responsible. And since she will likely be getting the bulk of the estate, paying off the debt will reduce her amount.
Can a wife be held responsible for her husbands debt in Missouri?
In most cases, yes, they will be responsible. They are considered to have benefited from the goods and services.
Are you liable for unsecured debt if you die in Florida?
A dead person in any state is not liable for debt. The deceased's estate is responsible for the debts to the extent there are assets in the estate to pay them.
Does a wife have to pay assume responsibility for her husbands debt?
She is not directly responsible. The estate is going to be responsible. And since she will likely be getting the bulk of the estate, paying off the debt will reduce her amount.
Is a credit card considered unsecured debt?
Yes, a credit card is considered unsecured debt because it is not backed by collateral.
Is subordinated debt more senior than senior unsecured?
No. While both tranches of debt are unsecured (no collateral pledged in support of the debt obligation), by definition, senior unsecured ranks higher in the capital structure than subordinated debt, meaning that senior unsecured creditor claims will receive payment prior to subordinated debt creditors upon bankruptcy of the debtor.
Can you provide an example of unsecured debt?
An example of unsecured debt is a credit card balance that is not backed by collateral like a house or car.
Is credit card debt unsecured, meaning it is not backed by collateral?
Yes, credit card debt is unsecured, which means it is not backed by collateral.
What is the difference between secured debt and unsecured debt?
A secured debt - is protected by being tied to something valuable (jewellery, car, house etc). If you default on the repayments, you could lose the item the debt is secured on ! An unsecured debt is not tied to any physical property. If you default on an unsecured debt, they will usually take you to court and have the debt recovered from your wages.
Is your husband responsible for your credit card debt in ill if it is at a collection agency?
If his name is not on the card,(He did not sign for the card) Then NO! And credit cards are unsecured loans.
