Well, given the situation you describe, likely all the lender could do is get a judgment against the debtor. IF the debtor ever works, they could garnishee their wages.
There are several insurance companies that offer insurance for busineses much like yours. Progressive, Allstate and Geico are just some examples. Also, you can get insurance on the property and the valuables even if you dont own the property and depending on your residence you can recieve a tax credit as a business expense.
debit insurance premium expensecredit cash / bank
Decent credit history, a steady job, a steady residence, and no delinquencies/missed payments.
Yes, they will report the late payments to the credit bureaus which will damage your credit score, and if enough payments are missed can commence a foreclosure action on the property.
You will need a property and casualty license. Now, after saying that ... you should check with the Georgia Insurance Commissioner. I nave been licensed to sell business credit insurance in 5 different states - they all required property and casualty licenses. In most cases very few people knew what business credit insurance is. Be very careful to specify that you are wanting a license to sell Business credit insurance (as apposed to consumer credit insurance e.i credit life insurance).
There will be no affect to the house with the current payments. Even if they are with the same lender. But it will hurt your credit badly...at least for 4 years.
The other signer must make the payments or the loan will go into default, the property will be taken and your credit will be ruined.
A tenant credit check is what a landlord can request before they agree to let you rend their property. This is to ensure you have a good credit rating and can afford the rental payments.
It depends on the policy and your credit rating. Some insurance companies allow you to pay monthly, in advance, for your insurance. Many want 3 to 6 months in advance.
Your landlord would have to report payments to the credit bureau.
You signed the loan papers and until the loan is paid in full you and you only are obligated to your creditor. If you don't make the payments on time you will have your credit damaged.
In the short term it can make lenders a little harder to work with because the property has been refinanced; in the long term it can help a credit score if the payments are made on time.
Arthur Levi has written: 'Credit insurance' -- subject(s): Credit Insurance, Insurance, Credit
Depends upon the State of your mother's residence, and the beneficiary of her insurance policy. If the beneficiary was her estate, they might be able to recover the debt; if an individual was the beneficiary, unless that person was a cosignor of the debt, it is not likely they have any recourse. Have you checked to see if your mother's account had debt cancellation coverage? Best of luck. Rjbeeg
Generally, late payments over 30 days late are reported to a credit reporting agency. After that, late mortgage payments can become "missed" mortgage payments. And missed payments can affect your credit score in a negative way. However, your exact late payment will depend on how your specific mortgage lender reports payments to the credit bureaus.
That's two separate issues - credit reporting on a loan, depends on the financial institution - if they report it. Personal injury on a property would be on property insurance, which you have to obtain in order to purchase property.
Business credit insurance is a type of insurance that is purchased by businesses selling to other businesses of open credit terms. Business credit insurance guarantees against their business having excessive losses due to their customers inability to pay for goods or services purchased on credit. It is sometimes calledaccounts receivable insurance or trade credit insurance. This should not be confused with consumer credit insurance (e.g. credit life) which is purchased by consumers.
Many types of insurance is sold at insurance markets for example, you might be able to find; auto, health, accident, casualty, life, property, liability and credit insurance. Of course it varies from company to company.
Valid driver's licenseProof of incomeProof of residenceProof of insuranceVehicle informationCredit and banking history
Commercial credit insurance is often purchased by companies to ensure payment of credit which a company has credit with. There are many insurance companies who specialize in credit insurance. Some include Allianz and Atradius. The best way to obtain and use trade credit insurance is through a specialized broker.
A Lender will require a Lenders Title Insurance policy if they are extending credit on a property. The Lenders title insurance policy is based off of the Loan amount that the borrower receives. It will only protect the lenders interest in the property if a problem arises on title.
credit life insurance
For the property you sold, you may have property taxes you already paid that year before the sale. Additionally, you will give the buyer a credit for property taxes accrued up to the date of the sale. Deduct both of these amounts. For the property you purchased, you may pay property taxes after the purchase. The seller gave you a credit for the taxes due up to the date of purchase. Deduct the credit from what you paid. If any remains, you may deduct it on Schedule A. If the credit is for more than you paid, you should carry the remaining credit forward to the next year and deduct it from what you paid. Many accountants will simply deduct the entire credit from all of the payments in the same year. While this is technically incorrect, it is easier, and eliminates the likelihood you will forget to carry the remaining credit forward. I've never had the IRS object to this treatment. Example: Paid property tax in June $2,000 Sold property in July, gave buyer credit 4,000 Bought property in July, got seller credit -5,000 Paid property tax in September 2,500 Total paid during year is $2,000 + 4,000 + 2,500 - 2,500 (credit) = $6,000 and carry a $2,500 credit from buyer to next year, or Total paid during year is $2,000 + 4,000 + 2,500 - 5,000 (credit) = $3,500 and no credit carried forward.
If your concerned about your friends or relatives late payments on their car note then I suspect that you are not just a co signor but are actually a co-buyer. If you are a co-buyer on the note then your credit score will certainly be affected by your co-buyers late payments and could also result in your insurance rates going up as well as increased interest rates on your credit cards and any other variable interest notes.