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Can an individual exit the UK with personal debt?
If you mean (for example) to go on holiday - then there's no reason why not. If, however, you mean to escape paying back the debt - many countries have agreements with each other to recover a persons debt no matter which country they emigrate to.
Does South Carolina make spouses responsible for the others debt in their name only?
Under South Carolina law, debt that is incurred during a marriage is presumed to be marital debt. This would mean that both spouses are legally obligated for their share of the debt, regardless of the listed individual to the debt.
What is debt-trap?
Debt Trap is a situation where you add on a new debt in order to pay an existing debt. Generally, when the firm or an individual is over leveraged all the credit sources are exhausted, the firm or individual arrives at a situation of debt trap.
Can I get debt relief as an individual, or is that only used on a corporate scale?
The best thing you can hope for as an individual in terms of debt relief is debt consolidation. Most debt relief programs are reserved for large corporations or even governments. I believe the only answer is really a debt consolidation aside from filing for bankruptcy.
How long after bad debt can it be collected?
A bad debt can be collected on indefinitely. The debt is owed until it is paid or written off by the creditor or individual.
What does the term discharged mean?
It basically means to cancel or relieve an individual of an obligation of debt. A bankruptcy court may issue an order of the court that the debts of an individual or business are absolved or do not need to be paid off.
If you have a joint debt with another individual and only 1 individual files for bankruptcy will it appear on the other individual's credit report?
No, but the full amount of any joint debt will remain valid when included in an individual BK and the creditor can pursue collection from the non-filing debtor.
What is debt hypothesis?
Debt hypothesis is the hypothesis in which a person may go into or get out of debt. In other words, it's a theory an individual may come up with to measure ways to avoid or get out of being in debt.
What does hit the black mean?
its when you are in debt and you come out of debt when you get money.
What does debt outstanding mean?
That u payed your debt in full
The Debt owed by a business to an outside individual or organization is called its what?
liabilties
Can an individual be held responsible for a girlfriend's debt?
Only if the person were a joint debtor. If the person did not jointly incur the debt nor enter into a financial agreement as a cosigner he or she is not responsible for that debt.
