If a loan is in both husband and wifes name who is responsible for the debt?
Both of you, together and individually!
No unless his name is on any debt or contract.
I divorced my husband and had the credit card debt negotiated so that he was the responsible party for paying the debt. He does not pay on the debt therefore I found out that I am liable for the debt because the card was opened in both names.
Yes, both husband and wife are responsible for each other's debt even if one or the other does not sign any legal documents. Louisiana is a community property state. So, whats his is hers and what is hers is his.
No. Not unless the creditor can prove the debt was for items you both used.
In Oklahoma am I responsible for debt that my ex husband incurred during the marriage if it is in his name only?
Yes, in Oklahoma a spouse is responsible for their exes debt during marriage. If the debt benefited both parties than both parties must pay. An attorney can help you explore your options.
Debts of the spouse are considered to have benefited both of them. He can be held responsible for the debts.
Yes, Wisconsin is a "marital property" state. This means that both the husband and wife "own" assets AND debt jointly.
If the debt is on a shared account, then yes, the wife's pay can be garnished even if the husband was the one who ran the debt up.
Both of the spouses are responsible for the debt. They both benefited from the debt, so they are held responsibility.
No you are responsible for his debt prior to marriage. Keep in mind that each come to the marriage with their own personal credit history. You are only responsible for joint accounts. Credit obtained in both names.
Ask yourself the question that if the husband purchased a lottery ticket and the ticket was a winner, would the payments be partly the wife's?
Her estate is responsible for the debt. In most cases he will have to pay from the estate or his own pockets.
It's up to the judge and the laws in your state, but probably not. Likely you will be responsible for your exclusive debt, she will be responsible for her exclusive debt, and you will split shared debt and assets.
In many cases the husband will be held responsible. They are deemed to have benefited from to goods and services.
The person who is the account holder is responsible for the debt unless it can be proven the debt was fraudulently incurred.
What can you do if you and your husband co-signed for a car and you're now divorced and he was responsible for debt but didn't pay and the car was repossessed and sold and now he's threatening to sue?
If the responsibility for the debt belonging to your husband was a part of your documented divorce paperwork, you can basically tell your ex-husband he doesn't have a leg to stand on. If you don't have anything in writing that says your ex-husband, and NOT you, was responsible for the debt, you may be partly responsible financially.
It really depends on the situation.
A husband and wife do absorb each other's debt. They each become responsible for the debts incurred by the other spouse.
of course; it would be offensive if not
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.
If the husband is not a contractual party to the debt, then no, he is not responsible regardless of what state the debts originate from. If the debts were incurred pre- or post-nuptual, it still does not matter provided the husband is not a contractual party to the debt. If however the husband has any joint assetts with the wife, if the Washington creditor seeks to recover the debt by attaching assetts and discovers them… Read More
Normally the spouse is held liable for the debt. The presumption is that they benefited by the goods and services.
The assumption is that the husband inherits the wife's assets. But the estate has to liquidate all assets before they can transfer them to him. typically and medical insurance that existed is in the husband's name and he is the gauranteer of the medical bills. One way or another, the spouse ends up paying the debt. The spouse has some right in all real property owned by the husband. If the assets are not enough… Read More
Yes, you can be held responsible for it. The spouse is considered to have benefited from the agreement.
Whoever had the debt is responsible. Any carry over debts do not count in the marriage. What you both get into debt together is what counts.
The person who is on the mortgage is legally responsible for paying the debt. If the debt is not paid the bank will take possession of the property. The division of the property will be addressed through negotiation by the attorneys representing the parties or by a judicial order.
The husband, solely. Provided that his signature is the only one on the documentation as being the cosigner. If the wife's name also appears on that document, then both parties are responsible for the debt should the first payee default.
If my husband dies and leaves credit card debt and our childrens parent plus loan debt am I responsible for assuming the debt in PA?
not if you have death insurance on the loan and credit cards
Who is responsible for a debt the couple is separated and wife is at the residence and a summons was served to the wife.?
If the couple acquired the debt while they were together, then both of them are responsible. Additionally, the summons will show who is responsible for the debt by naming the individuals who are being sued.
In certain circumstances YES! Take legal advice.
If your husband gets a loan for a truck in his name only will you be responsible for the debt if he dies?
no if you did not sign anything
Can a husband and wife be sued for medical bills if the husband is on social security but the wife works?
If both are contractually responsible or liable for the debt, then yes; and likely both will be. While neither SSI nor disability can be attached, as soon as the payment hits the bank, the creditor can garnish the account. Both the wife's wages and bank account can be garnished.
In Maryland, and every other state, the estate is responsible for the debts. However, most insurance requires the insurance holder, normally the husband, to guarantee the costs. So indirectly, the spouse will pay because they will not inherit the money that went to pay the debt.
Are you liable for your credit card debt if your husband filed bankruptcy or are you covered under community property debt?
If the couple resided in a community property state both spouse's would have needed to file joint bankruptcy for the debt to be totally discharged. If one spouse did not file, it is quite possible the creditor will hold that person responsible for the debt owed.
A married couple is seen as a economic unit, so to speak. So the widow is responsible for the debt.
If your husband is a co-applicant for a mortgage loan can you be held liable for the debt if the loan is in default?
Keyword here is "Co-applicant" ... Both of you are equally responsible and liable for the debt. If your name is not listed on the mortgage deed, then there would be little recourse in coming after you for the amount owed.
If you acquired a student loan prior ro marriage is your new husband responsible for your loan debt?
No. You are responsible for your debts. You are both responsible for joint debts. Your spouse is repsonsible for your spouse's debts. This is regardless of when you get married or when the debt is acquired. There are a few exceptions such as burial expenses, nursing homes, estates, tax l iens, etc. But for regular consumer debts pertaining to loans and revolving credit, only the person who signed the application for credit is repsonsible for… Read More
In the United States, once a couple is married they both assume financial responsibility for one another, no matter when a financial transaction occurred.
No, not if the contract was not jointly made.
Can your new husband be held financially responsible for debt created while you were single if his name is no where on the debt?
You need to talk with a" Clerk of the Court," or a "Solicitor" and get the right advice.
How will the credit card debt be divided between the husband and wife during a divorce when the debt is only in the wife's name?
It is up to the judge to determine who is responsible for repaying the debt owed on that credit card account. Unfortunately for the cardholder, if the husband is required by the court to repay the card, the wife is still responsible for ensuring that those payments are made. If he misses payments, then her credit score will suffer.
No. A spouse is not responsible for their spouse's debts that were incurred prior to marriage. The only debt that can be shared post-marriage that was incurred pre-marriage would be debt on an account that you became a joint account holder on after marriage.
If a credit card debt is only yours and it is not paid can they take your husband's property or property in both of your names in Missouri?
No. The state of Missouri is one of the few states left that has Tenancy By The Entirety. A creditor cannot seize property owned by husband and wife if only one spouse is the account holder/debtor.Real property and joint marital bank accounts, (unless otherwise titled), under MO. statutes are presumed owned in TBE. For those interested in the state of Mo. only the person signing on the appl. is responsible for the debt. Also if… Read More
Unfortunatly, because you were married, her debt is your debt. You are both responsible. You can try to pay it then sue her for lost income.
If a church has credit card debt and the debt is in both the churches and its pastors name who is responsible for paying the debt?
Easy. Both. Compared to, if it is a card issued to a company (say XYZ Corp), on their credit, with the "authorized user" "Mr. Pres", then another for "Mr. VP of Sales", etc, then only XYZ is responsible.
The wife is not directly responsible unless named on the credit card. The estate has to pay the debts before she can inherit anything.
Responsibilty and ownership rights in the home is different from rights and responsibilities for the loan. Anyone who signed the loan note is responsible for the monetary debt.
Indirectly. The estate of the deceased husband is responsible for resolving all of his debts. Since the widow is going to be the primary beneficiary of the estate, she will inherit less because the estate has to pay the debt.
both...construed as conyugal debt..may be negotiated..
Yes. Both are equally responsible for paying off the debt.