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If your wife gets a credit card and you am not a guarantor or signator for that card are you liable for the debt after her death in the state of Florida?
Wiki User
∙ 8y ago
The actual account holder is the person who is responsible for the debt. If a married couple reside in a community property state, they are usually equally responsible for debts, including credit card accounts.
Wiki User
∙ 8y ago
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A party who agrees to be secondarily liable to a principal debtor is known as a?
Surety.
If a minor defaults on a loan does the guarantor have to repay the loan?
The guarantor is liable to pay the entire loan on demand of the creditor plus any collection fees.
Can you be held liable for adult children's debts?
Not unless the parent was a co-signer or guarantor.
Are you liable for your husbands credit card?
Yes, you are liable for your husbands credit card.
Will your husband be liable if the Home goes into default and the home is in the wife's name?
your husband will be liable only if his name appears on the loan or mortgage documents as a co-guarantor of the loan
Is an additional credit card holder liable for the whole debt on the credit card account?
ia an additional credit card holder liable for the whole debt of the credit card account
What are the responsibilities of the guarantor on an apartment lease?
A guarantor is someone who has agreed to be legally bound to pay certain debts of another person if that other person does not, for any reason, pay his or her own debts. A guarantor of an apartment lease will be liable for the rent not paid by the tenant, as well as for any damage done and repairs not made by the tenant. Being a guarantor involves much more than simply being a reference for another person. Being a guarantor could end up costing someone thousands of dollars.
What is difference between specific guarantee and continuing guarantee?
Definition of "Continuing Guarantee"A continuing guarantee is a guarantee where the guarantor assumes liability for any past, present and future obligations owed by a debtor to a lender or creditor. Even where the amount owing has been completely paid, the guarantor can still be liable under that line of credit if there is a subsequent indebtedness. Also known as a continuing guaranty. A common example is a guarantee for a revolving line of credit. specific guaranteeWritten undertaking to fulfill a specific obligation. Also called specific guarantee.
Does the guarantor on a loan get a ccj if the debtor gets summoned to county court?
When debt issues get to the court as civil actions, the lender almost always includes everyone listed on the loan (including the guarantor) as a defendant in the case. If the lender wins, the judge will usually give the debtor some chance to pay the debt as a result of the judgment. If either (1) the judge does not believe that the debtor can pay or (2) the debtor does not pay after being guided to do so, then the guarantor will become liable for the debt and have a judgment lodged against them. The best way to avoid such action as a guarantor is to not let the debtor get to court in the first place and work with the lender to mitigate the potential credit damage to all parties to the loan.
Is it required by law in Tennessee if a person that signs an apartment lease as a Guarantor is married that both the Guarantor and spouse must sign and execute this Guaranty Agreement?
No. Nothing under the law requires that any Guarantor exist for any contract in Tennessee. However, if a Guarantor is sought, that is an issue of contract which will generally be enforced by the Courts. If the Guarantor is married and the spouse signs the guarantee, then the spouse becomes individually liable for the guarantee to the full extent as the original Guarantor. Individuals should enter into guarantees very very carefully with the assistance of a lawyer or what appears to be a limited guarantee could actually be open ended. The totality of all the documents must be read together to obtain the meaning of the individual parts of the total agreement being guaranteed.
What is the law in Florida regarding credit cards after death of the card holder?
In Florida, the executor or personal representative of the deceased's estate is responsible for notifying credit card companies of the cardholder's death. The estate is generally responsible for paying off any outstanding credit card debt using the deceased person's assets. Family members are not typically personally liable for the deceased person's credit card debt.
Am I liable for my husband's credit card debt incurred before we met?
NO
