0
Hopefully, your name is not on the debt, so it is her problem. Beware of paying it off so she does not suffer the consequences. She is most apt not to repay you ever and will build up debt again (been there, done that). If people do not "get it" in their early twenties, they are unlikely to manage their finances well the rest of their lives.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Is a 17 yr old responsible for a credit card he lied on his age to get?
No he is not responsible for the debt as a 17 year old cannot enter into a legally binding contract. However, he would be responsible for the fraud.
If a 16 year old is legally married in the state of Tennessee incurs debt who is responsible for that debt the spouse or the parent of that 16 year old child?
ID SAY THE SPOUSE IS RESPONSIBLE FOR THE DEBT
Are parents responsible for debts their 17-year-old has accrued after they moved out of their parents' home in the state of Michigan?
If this debt is from a loan or credit card they obtained while under age 18 the lending institution is at fault for granting the credit. If the debt is owed by a parent then you still owe it.
Can a 17 year old have credit debt?
No, Usually credit is extended to an individual 18 years or older.
Is 16-year old liable for debt on a paper bill?
No they are not responsible. Anyone under the age of majority cannot be held to a contract. However, it can ruin credit early on to have such things attached to the name.
Can a repossession stay on your credit report for more than seven year if debt is not paid?
of course. debt's just don't disappear.
If a 20 something year old dies and has debt under their name is the parent responsible for the debt?
No. The person's estate would be responsible for the debt. The creditor could attach any assets owned by the decedent but if there are no assets the creditor would be out of luck.
How long will a bad account stay on credit history?
Until you clear your debt and your good with the company. After that it will stay on there for about a year but will also have that you paid your money. If you havent paid your debt, then it will remain on your credit history.
You have a credit line and you are told that if you pay off the line over years it is not deductible If you pay it off in the year you use it it is deductible Is this right?
You cannot take any credit card debt or interest as a deductible on your taxes. Credit card debt is considered personal debt and does not qualify for tax breaks.
Who is responsible 3 year old repo debt when debtor dies?
The estate of the debtor is responsible. If there are not enough assets in the estate, it goes unpaid.
How does a credit card debt settlement affect your credit?
Answer:Debt settlement will have a larger effect on your credit. When a debt is settled for less than its full value, the creditor will note that on your credit report. The damage is much less than you'd experience with bankruptcy or default, and in most cases your credit will improve within a couple of years.I took help of Freedom Debt Relief to settle my credit card debts, its been more than a year that I enrolled into their program and now I am almost debt free.
Can lender report joint auto loan closed for both buyers to credit agencies and repo year later while payment continues?
KEY WORD="CO-buyer". They are EQUALLY responsible for the debt. IF one is slick enough to file CH7 and get out of that responsibility, the entire debt falls on the OTHER buyer.
