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What else can I help you with?
What limit in the Articles of Confederation made congress unable to pay back the debts the US owed?
that one thing
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.
Does the surviving spouse have to pay husbands bill no will?
In most cases the debts of the deceased, including hospital bills, are the responsibility of the estate. Clearing the debts is one of the reasons to establish and estate, even without a will. Consult a probate attorney in your jurisdiction for help.
How can one get advice on how to clear their debt?
To get responsible advice about clearing debts one should go to a reputable agency. In the UK the Citizen's Advice Bureau have specialist advisers in this area who will assist you in the process.
What are some possible solutions a person has to clear debt?
There are many possible solutions for clearing debt. A debt consolidation company will help clear up all debts with one monthly payment. Another way is to do it yourself. Pull up your credit report and dispute any charges that do not seem correct, and arrange payment for all other debts.
What is a Legal letter to pay back money owed called?
A legal letter to pay back money owed is called a collection letter. It is better to have a collection letter come from a corporation that collects debts or an attorney. However, you can also write one yourself.
What is meant by liability in business terminology?
liability are owed capitalit can further be divided into two parts1. long term liabilities:these debts have to be repaid after more than one year as bank loans2.current liabilities:these debts have to be repaid within a year such as creditors
Can alimony and child support be listed in arrears on your credit report?
Yes, child support and alimony are both considered debts owed by one parent to the other. As with any debt, failure to pay can be reported to credit bureaus and can negatively affect your credit rating.
Executor owed the deceased money but he indicated that deceased had told him he could keep any outstanding balance owing upon death does he have right to keep the money instead of returning to estate?
The executor is responsible for collecting all debts owed to the estate. If the deceased did not write such intentions down it must be assumed that the debt is still owed. If the Executor is the one making false claims, other benificiaries may want to consult with a lawyer, especially if the estate is substantial.
What are the procedures to collect a debt of a deceased person when no estate has been set up?
Debts are one of the primary reasons someone should open an estate. Those that are owed money can ask the court to establish an estate. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Will my mother's estate be responsible for a debt my brother made in our mom's name and didn't pay?
The executor should approach the brother to collect from him on the amounts owed. Debts are one of the primary reasons someone should open an estate. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
How do I divide mom's estate bank account between 3 credit card companies owed different amounts?
That is one of the responsibilities of the Executor. They need to propose a solution to the probate court. If the judge accepts it, the creditors will also have to accept it. The simplest way is to take the total dollars in the estate and divide it by the total debts owed. Then pay that much per dollar owed to each debtor.
