Depends on your state laws. Check with a local attorney. I would think the worst they could do is attach the assets so that when you go to sell, they get paid first.
Wendy, once a lender runs your SS#, the judgment will show up. Its possible you might still get the loan but at a much higher interest rate. That higher interest rate will cost you much more than 6K over 30 yrs. It would be much cheaper to offer 3K CASH to settle the Jeep deal and get it over with. Why not offer $2500 CASH to the lender to release you from the judgment??
Depends on how old it is. From your info about 5 years ago? If so, I would go ahead and get the loan together and when it falls off do a refinance and that will establish a record of on time paying and will get you that lower rate. But remember if some one calls asking for you, maybe by your old name, do not acknowldge it is you because when it get close to the statute of limitations date, usually 7 years, they will try to find you. If you say it you and confirm the unpaid loan, this will start a new 7 years to collect the debt, even though it off you credit report.
Oops, I was wrong on the years for SOL, here mis an excellent link.
If you have joint accounts that have been open and active in the past 7-10 years, your husband has a credit history. Credit history has nothing to do with the status of his employment.
The important step is to open an estate. The executor of the estate will deal with the debts and assets. If the debts are joint responsibility, they won't go away.
If it is a joint account. probably not.
No, but if arrears exist, joint assets and credit may be affected.
Yes, as long as your listed as a "Co-signer" on the account. Credit is not build if you are just an "Authorized User" if this was a credit card account. Lastly, this all assumes that whatever this joint-account is that it reports to credit.
No, but arrears can affect her credit and joint assets. see links below
If they are joint user of the account, yes she is responsible
If the husband adds the wife as a "joint" it will show on her credit report but will most likely not be counted against her if she tried to apply for a loan. If the husband adds the wife as an "authorized user" it will not even show on her credit report because she has no legal obligation to pay the credit card bills, but she has the right to use the card.
No, but if there are arrears, it can affect your credit and joint assets. see link
Of course. They have chosen to share a life together and that means they should also share all their assets equally.
Actually I think that the only way it can hurt him in any ways is if you are trying to fial joint to like buy a car or a house or such.
If it is going to be a joint obligation, then they will check your credit status. If both incomes are not needed to qualify for the transaction, the husband could apply in his name only. Therefore only his credit rating would be used.
You would have to get a copy of his credit report from all three bureaus to answer this.
No. Credit reports show individual and joint debts, but not as husband and wife. For example, a married couple hold a joint mortgage it will be on both of their credit reports, individual accounts including medical bills will only appear on the CR of the spouse who incurred the debt.
It depends on how the wife is categorized and what assets are in her name, solely or jointly. Let's say there is a house in both of the names then yes, the wife has to file in a joint return with the husband. If the wife is a student then she will have to file and the husband may be able to claim her as a dependent. To be safe it is always better to file either a zero return solely or as the spouse on a joint return.
Yes, if you share assets then the credit companies will consider you responsible and come after you for the unpaid debt. You may consult a credit councelor, they may have a loophole that the general public doesn't know about.
No. But all joint debts will become his responsibility. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
No, but keep in mind that any arrears can affect a credit rating, joint assets can be attached, and tax refund taken. see links
NEW ANSWERThey can not touch your new husband for your bad debt, unless this was a joint account or he was some how connected with the account, such as he was a co-signer, etc.Good luck to youAnswerNo.Y-THINK-Y
If you are not a joint account holder you are not responsible for the debt. The debt will be included in any probate hearings. The court will then decide which debts (if any) are paid out of the estate assets.
Joint credit life insurance is money paid to you or your spouse if either of your are ever arrested on drug charges.
Any property your husband owns with another as a joint tenant will automatically pass to the surviving joint tenant upon his death. For example, if he and his brother own a cabin as joint tenants the cabin will belong to his brother if your husband dies first.
In this case, a wife is not responsible for a judgment made against the husband prior to the marriage. She may want to help clear up this date in case there are joint credit situations.
Yes. When an account is jointly held, all parties are equally responsible for the entire amount owed.
They can and will whether legal or illegal. Are you a billionair? you will loose. Laws do not apply to governement!...