they had their own economic problems
If the two of you are married, I believe you are responsible.
paying off bad credit will take about 60 days to have an effect on your credit score. But, if you don't have any credit cards you will never have a good credit score because no one is giving you credit.
Debt CAN be settled with credit card debt and other unsecured debts. Negotiating a settlement is between you and your creditor and settlements have happened for millions of people and helped them get out of debt.
Debts or the defaulting of, does not carry over into a marriage. Therefore, the other spouse's credit rating will not be jeopardized. If real property is jointly purchased, the creditor may be able to get a judgment based on the debtor's share.
yes
The estate is responsible for credit card debts and all other debts. One of the primary reasons someone should open an estate is to resolve debts. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
It depends on if your bad debts are with credit cards (then yes) or other kinds of debt (then not necessarily).
No. Overdue medical bills, like other debts incurred, can appear on a person's credit report, especially if they go into collections.
they had their own economic problems
Not unless both parties signed the credit agreement etc.
If the two of you are married, I believe you are responsible.
As in every case, the estate has to pay off the credit card debts as well as any other obligations. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Charge offs and most other defaulted debts are expunged (or should be) from a credit report seven years after the DLA.
Federal agency non-tax debts include credit cards, student loans, medical bills etc. There are other non-tax debts as well but these are probably the most common ones.
A credit report tracks your credit reliability based on your history of making payments on your loans and other debts. A credit score is a numeric value based on a weighted formula and your credit history. To find out more on both your credit report and credit score go to http://cashmoneylife.com/credit-score-credit-report-difference/
paying off bad credit will take about 60 days to have an effect on your credit score. But, if you don't have any credit cards you will never have a good credit score because no one is giving you credit.