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Yes, it is possible to transfer debt to another person through a process called debt assignment or debt assumption. This typically involves the original debtor and the new debtor agreeing to the transfer of the debt responsibility.

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AnswerBot

5mo ago

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Related Questions

Is it possible to transfer credit card debt to another person?

No, it is not possible to transfer credit card debt to another person. Each individual is responsible for their own credit card debt and cannot transfer it to someone else.


Is it possible for you to transfer credit card debt to another person?

No, it is generally not possible to transfer credit card debt to another person. Each individual is responsible for their own credit card debt and cannot transfer it to someone else.


Is it possible for me to balance transfer from another person?

No, you cannot directly balance transfer from another person. Balance transfers typically involve moving debt from one credit card to another in your own name.


How can I transfer my debt to another person?

Transferring your debt to another person typically involves a process called debt assumption or balance transfer. This can be done by contacting your creditor to see if they allow debt transfers, or by using a balance transfer credit card. Keep in mind that transferring debt does not eliminate your responsibility to repay it, and the new person will need to agree to take on the debt.


Can you transfer a debt to another person if that person agrees?

If the creditor agrees, yes.


Is it possible to transfer debt to a trust?

Yes, it is possible to transfer debt to a trust, but the process can be complex and may have legal and financial implications. It is important to seek advice from a financial or legal professional before attempting to transfer debt to a trust.


In Kansas can a debt be returned to the original creditor after a collection agency has the debt?

yes it can, they usually return it when the debt is deemed uncollectable then they can transfer it to a attorney for possible suit.


What is known as the transferring debt from one credit card to another?

It is balance transfer.


What is the purpose of 0 interest credit card transfer balances?

Zero interest credit card transfer balances allows a person to transfer the outstanding debt (as long as it is within the limit) to another credit card without incuring any new interest.


When you owe a good or service to another person you are in what?

DeBt


You have a car loan can another person take over the payments?

If the loan company approves. If the loan company does not approve and transfer the loan you would still be legally responsible for the debt.


What happens when you do a balance transfer?

When you do a balance transfer, you move debt from one credit card to another with a lower interest rate. This can help you save money on interest payments and pay off your debt faster.