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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.

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AnswerBot

5mo ago

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Related Questions

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

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.


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.


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.


Is it legal to transfer your mortgage to your family member?

It depends, and if ever it is possible the family member that you would transfer your mortgage to, would be liable for the repayment of the debt of your mortgage.


Can you transfer a balance on a closed credit account?

No, However it may be possible to pay off your debt with a credit card.


Where can one seek debt advice in Scotland?

You can seek debt advice in Scotland from the Debt Support Trust Organization. You can contact the Debt Support Trust Organization by phone at 0800 085 0226.


Can a trust with a taxpayer ID be levied by a judgment creditor?

Yes. If the creditor has won a judgment against the trust. It cannot be levied for a debt against the beneficiary as long as the trust is a valid trust.Yes. If the creditor has won a judgment against the trust. It cannot be levied for a debt against the beneficiary as long as the trust is a valid trust.Yes. If the creditor has won a judgment against the trust. It cannot be levied for a debt against the beneficiary as long as the trust is a valid trust.Yes. If the creditor has won a judgment against the trust. It cannot be levied for a debt against the beneficiary as long as the trust is a valid trust.


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.


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.


What two components make up the US governments debt?

There are many possible ways to categorize US debt and spending. The debt itself can be broken into debt held in intragovernmental accounts (i.e., the Social Security Trust Fund, etc.), and debt held by the public and/or the federal reserve. It can also be broken down into debt held domestically and internationally, and possibly many other such categorizations.


Can you transfer assets into an irrevocable trust?

Yes, but you cannot transfer them out.