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This is a bit confusing, but I'll try. If the new spouse is the ower of the old debt, then yes. The beginning of a new marriage does not absolve old responsibilities. If the the new spouse married the ower of the old debt, then no. Those who are not contracted to owe cannot be pursued for a debt owed by another. If the new spouse now has joint accounts with his or her new partner, regardless of who owes the old debt, then those accounts are fair game to any creditor who holds a judgment against the old accounts.
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What is net new borrowing as it relates to determining the cash flow to creditors?
Net new borrowing is the difference of the long-term debt on the balance sheet. Cash flow to creditors = Interest paid - difference of the long-term debt
Is a surviving spouse in New York responsible for repayment of credit card debt only in name of deceased spouse?
yes.
Are there state restrictions regarding talking to a spouse when a debt is concerned?
Yes. Minnesota, Iowa, and New Hampshire are spousal restriction states. A debt collector calls your house, and your spouse answers, they cannot discuss the account with your spouse, even if they claim they are your spouse. The reason is because anyone can claim to be your spouse.
In New Jersey is a surviving spouse responsible for a deceased spouse's credit card debt if their name is not on the account nor has she used the credit card?
From the remaining spouse, no. Collecting from the estate depends on many factors. The laws pertaining to real property and/or survivor rights take precedence over probate proceedings. A determination on what creditors might be entitled to can only be made after the deceased financial status has been compiled.
How does nonprofit debt consolidation work?
Nonprofit debt consolidation works by combining a debtor's debts into one loan. The creditor then takes out a lower interest loan to pay the combined debt so that the debtor has lower interest rates to pay.
In New Jersey is a spouse responsible for the credit card debt of her husband if the credit card is solely in his name?
No.
Can creditors collects a debt from seven years ago in New York?
Only if it is a judgement. If they never sued you, then after 7 years, it will come off of your credit report, and you are no longer liable for the debt.
In state of new york if the surviving spouse is additional user on a credit card of the deceased will the surviving spouse need to pay the debt?
No, an authorized user has no obligation to pay back the debt and the credit card company cannot make you pay the debt. They can request payment from the estate if there is an estate left.
IS a spouse responsible for their spouses debt in New York?
In New York, spouses are generally not responsible for each other's separate debts. However, debts incurred during the marriage may be considered marital debt, and both spouses may be responsible for that debt, regardless of which spouse incurred it.
If a noncustodial father pay child support for a child from a previous marriage is the new spouse responsible for back child support in Wisconsin?
We don't understand what the new spouse has to do with it. The child is not his, and he is not mentioned in the divorce degree or any judgments..
Will a settlement of my credit card debt affect my FICO score?
Yes, any time you fail to make payments or settle a debt, it will affect your credit. You will also have to pay taxes on the amount written off! Yes it will effect your score. It is usually easy to get creditors to except a settlement amount but that can be looked upon badly with new creditors in the future.
Can you get approved for new credit after a Debt Management Plan?
Yes you can. If you are still on a debt management plan, you may not get additional credit. But, once you have completed it you are eligible for a new loan. However, you should remember that a debt management plan can temporarily affect your credit rating. But do not worry. Most creditors look at debt management plan as a positive action from your side. So your chances of getting approved for a new loan are high.
