The government seem to incur debts in various cases. Some of the common situations is when there is war and any other national issue that requires huge funding like elections among others.
Board members can incur a debt for the association when appropriate - for example an unexpected urgent repair - but must then finance the debt through borrowing from reserves, or a "special assessment" which must be repaid with within a specific period. Generally speaking, the repayment period is within three years or less. Individual members, however, may not incur debt on behalf of the association. Plans to incur debts must be openly discussed, voted on by the board, passed perhaps unanimously, and when required by the governing documents, be approved by the membership.
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.
This question is incomplete. In most districts, you cannot incur new debt if you are a debtor in an active chapter 13 case. To refinance or incur any new debt, you have to obtain the consent of the Standing Chapter 13 Trustee in your case.
The National Debt is the responsibility of the government. This debt comes from government spending. This spending is acquired from government programs and foreign aid.
Pay off the debt. Pay the debts that you owe. Don't you feel responsibility for the debts that you incur?
When you borrow money you incur debt.
It is easy to incur debt if you abuse your credit cards.
A debt ceiling can be described as the maximum limit that company, organization, or government agency can afford to incur debt. Example sentence: My personal debt ceiling is around a thousand dollars.
There are 3 types of debt a government can occur (Export Debt), (Import Debt) and (Social Debt). Export Debt (money owed to the government from Another Country that isn't paying) Import Debt (money owed to another country by the government) Social Debt: This is what I am assuming you are referring (the deficit). The deficit is money borrowed on "future" income from collectible taxes and fees from the governments citizens. They borrow against it (like a credit card). Its money owed to themselves. Its not a true debt in the conventional sense. However if left upaid then the government can't honour future benefits to its citizens and the country would collapse (like Greece and Spain).
There are 3 types of debt a government can occur (Export Debt), (Import Debt) and (Social Debt). Export Debt (money owed to the government from Another Country that isn't paying) Import Debt (money owed to another country by the government) Social Debt: This is what I am assuming you are referring (the deficit). The deficit is money borrowed on "future" income from collectible taxes and fees from the governments citizens. They borrow against it (like a credit card). Its money owed to themselves. Its not a true debt in the conventional sense. However if left upaid then the government can't honour future benefits to its citizens and the country would collapse (like Greece and Spain).
Board members can incur a debt for the association when appropriate - for example an unexpected urgent repair - but must then finance the debt through borrowing from reserves, or a "special assessment" which must be repaid with within a specific period. Generally speaking, the repayment period is within three years or less. Individual members, however, may not incur debt on behalf of the association. Plans to incur debts must be openly discussed, voted on by the board, passed perhaps unanimously, and when required by the governing documents, be approved by the membership.
The first incur of the national debt was predominantly when the US first began as a country, the expense of the American revolution was somewhat around 75.4 million dollars. Over time, due to expansion and purchase by the nation this caused more debt to accumulate and fluctuate.
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.
There are 3 types of debt a government can occur (Export Debt), (Import Debt) and (Social Debt). Export Debt (money owed to the government from Another Country that isn't paying) Import Debt (money owed to another country by the government) Social Debt: This is what I am assuming you are referring (the deficit). The deficit is money borrowed on "future" income from collectible taxes and fees from the governments citizens. They borrow against it (like a credit card). Its money owed to themselves. Its not a true debt in the conventional sense. However if left upaid then the government can't honour future benefits to its citizens and the country would collapse (like Greece and Spain).
George Walker Bush increased the national debt by $4.9 million dollars. Doubling it during his presidency.
This question is incomplete. In most districts, you cannot incur new debt if you are a debtor in an active chapter 13 case. To refinance or incur any new debt, you have to obtain the consent of the Standing Chapter 13 Trustee in your case.
Under the new bankruptcy rules, this would be hard to impossible to do.