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If you die in Tennessee with credit card debt in your name will your spouse be obligated to repay the debt?
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∙ 8y ago
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If spouse dies is the surviving spouse obligated to pay the loan?
The estate must repay the loan before assets are inherited. Otherwise, only if they cosigned.
Can a credit card company charge monthly finance charges after the death of the card holder if someone is trying to pay the debt off?
Yes. The question might possible be is anyone obligated to pay the debt at all? If the the deceased person was the only account holder, no one else is responsible for the debt; except posssibly the deceased's estate (if there is one). If there is a surviving spouse and the couple lived in a community property state, the spouse might be obligated to repay the debt(s)... Macky(macky83@juno.com)
In Florida what should the surviving spouse do about the credit card debt of a deceased spouse that was sent to collections if there was no estate?
If the account was joint then the surviving spouse is responsible for the debt. If the account was held solely by the deceased spouse the surviving spouse is NOT responsible for the debt and is not legally obligated to repay such nor to correspond with the creditor or collector. If the surviving spouse so chooses he or she may inform the collector that the account holder is deceased and also inform the collector that they should "cease and desist" all contact with the family. Florida is not a community property state. Marital property is generally treated as Tenancy By The Entirety, which makes it immune to creditor action if only one spouse is the debtor.
If you cosign for a home loan and the borrowers don't pay and get repossess how can you remove that from your credit report?
As a co-signer, you are a borrower and obligated to repay...(thats why your signing). If you didn't do so, (or worse yet, you don't understand what it is you were signing and obligating yourself to), what possible reason would you have to think that should be something removed from your credit report?
I purchased a treadmill from the store in full a month ago. They called me and said they accidentally refunded me my purchase. Am I obligated to repay them again or is it their problem?
An honest person would repay the debt. You have the item, they are entitled to payment.
Can student credit cards be used to repay loans?
Whether or not a you can repay loans with a credit card depnds on the policies of you debtors. You can pay some student loans with a credit card, if you are in default. However private lenders are under no obligation to accept credit card payments.
When does your bad credit go away if you are not able to repay it?
7 years
Receiving money to buy goods and services with the promise to repay in the future?
Credit
When you purchase items using credit you?
obligate your future earnings to repay a loan
What is the best way to repay a home equity line of credit?
As fast as you possibly can.
Why do you need a cosigner if you dont have credit?
If you have a bad credit record, that indicates to a lender that you are likely not to repay your loan. If you have no credit record, a lender cannot determine whether you are likely to repay your loan.In either of the above cases, the lender may want you to find someone who has a good credit record that indicates he or she is likely to repay the loan to act as your co-signer. A co-signer becomes equally responsible for repaying the loan with you. If you fail to repay some or all of the loan, the lender can require the co-signer to repay it as if the co-signer had taken out the loan him or herself. (The co-signer can then take action to try to recover the payments from you, but that does not concern the lender.)The co-signer is a person with good credit (or at least better credit than you) to whom the lender can turn for repayment if you fail to repay. Having a co-signer makes the lender more confident that they can get repaid.
How does a lender use a credit report?
A lender will request a credit report from one of three credit reporting bureaus. This report will give the lender an idea about how likely you are to repay a loan on time and in full. The better your credit report, the more likely you are to repay the loan in full on time and (in general) the lower an interest rate you will be offered.
