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If you and your spouse need to talk to someone about debt, it might be wise to seek out a professional. A financial advisor or consumer credit counselor can help to provide you with information about your situation. They can also offer you support in this area.
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What states can I speak to a spouse about a debt?
You can speak to anyone in any state about a debt. The only laws concern debt collections hired by companies to collect debts. There are specific laws about time of day, calling a persons employer, and number of calls.
Will your spouse have to pay for your debt if you stop paying on it?
If your spouse co-signed the debt, they will have to pay your debt. In most cases, the answer will be no, it is your debt and you are responsible.
What states are non spousal states for debt collections?
There are at least 5 states where a debt collector is prohibited from speaking to a spouse: Iowa, South Carolina, Massacgysetts, Pennsylvania, and Connecticut. With Iowa there is an exception, however. If the debt collector is initiating contact then they can't speak with them but if the spouse is initiating contact they can.
What is the fine line difference between commercial debt and consumer debt?
Consumer debt is governed by the FDCPA....commercial debt is not.
In the state of Georgia if a spouse receives life insurance benefits is the surviving spouse responsible for the deceased spouse debt if surviving spouse's name is not on any of the debt owed?
In Georgia, as in most states, life insurance proceeds to a named beneficiary become the property of the beneficiary and are therefore not accessible to the creditors of the decedent. Of course, this does not apply to joint debt between the spouses or any debt solely in the name of the surviving spouse. In short, if the surviving spouse's name is not on the debt of the decedent, the surviving spouse has no legal obligation to pay such debt.
What is consumer dept?
Consumer debt is the debt (money owed) by people as opposed to the debt of institutions, governments or businesses
What are some benefits of consumer credit debt consolidation?
Some of the benefits of consumer credit debt consolidation is that once you speak to another person about your situation, the weight can be lifted off your shoulders. Also a second opinion always helps you to understand your situation more.
In Michigan is your spouse responsible for debt incurred in your name?
Not for private debt. Just make sure that the spouse is not a co- applicant. The spouse is responsible only if they are co-applicant.
In Texas Is a spouse responsible for the ex-spouse credit card debt?
If the debt was made when they were still married the answer is yes. STATED BY AUTHOR
What is Texas law regarding credit card debt for surviving spouse?
Technically, the debt has to be resolved by the estate. And as the spouse gets the estate, they will be paying one way or another. And is many cases the spouse benefits from the debt, they can come after the money
Is the spouse responsible for a deceased spouse's debt in West Virginia?
Yes, in West Virginia they will pay for the debt. Either through a reduced inheritance or because of perceived benefit from the debt.
In NH if a married spouse expires is the surviving spouse responsible for a credit card debt of the deceased spouse if the living spouse never signed any document.?
In Ohio, if the debt was owned jointly, then yes, you are responsible. If if wasn't, they cannot make you liable for another's debt. This is in Ohio. Credit reports are held in both owners name, if they are co-owners or own the debt jointly, such as a home mortgage. If the credit card is owned by spouse1 and spouse2 does not have permission to use it, then spouse1 is the only responsible person for that debt. Spouse2 cannot be held responsible - in all financial transactions in the state of Ohio, even if the debt has incurred from some other country or state. Wherever you reside determines the law for the consumer. Check your state for that.
