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The business is, provided the charges were for business related or permitted personal purchases. Most businesses, however, have policies for personal purchases on company plastic, and procedures for paying back the company. If personal charges are not permitted, then the card holder will be required to pay back the debt.
What else can I help you with?
If you inherit your fathers small business when he dies and and you take over the business are you resposible for his credit card debt?
If the credit card is drawn against the business, that is if it is a business account, then yes. If the card is a personal card, then his estate is responsible for payment of any outstanding debt. Since the business is part of his estate, if in probate it is determined that the business owes the debt, then yes, you or rather the business is responsible.
Who is responsible for outstanding credit card debt if bank cancels your credit card?
You are because you incurred the debt.
Is the wife responsible for deceased husband's business credit card debt in the state of Florida?
In Florida, whether a wife is responsible for her deceased husband's business credit card debt generally depends on how the debt was incurred and the nature of the account. If the credit card was solely in the husband's name and used exclusively for business purposes, the estate may be responsible for the debt, not the wife personally. However, if the wife was a co-signer or if the debt was incurred for joint expenses, she could be held liable. It's advisable to consult a legal professional for specific circumstances.
Would your spouse be responsible for your business credit card debt if you were to die if she is not an account holder?
Your estate is responsible for your debts. If the business is owned by the deceased, the business is responsible. A spouse is not responsible, but the amount they inherit will be affected by the debts.
Can business credit card debt affect my personal credit card balance?
A business credit card debt can affect someone's personal credit card rating. A credit report for an individual is processed by activity of one's overall credit. This means that having debt for a business credit card can hurt a person's chances of receiving lower interest for a home finance loan.
If you inherit your fathers small business when he dies and and you take over the business are you resposible for his credit card debt?
If the credit card is drawn against the business, that is if it is a business account, then yes. If the card is a personal card, then his estate is responsible for payment of any outstanding debt. Since the business is part of his estate, if in probate it is determined that the business owes the debt, then yes, you or rather the business is responsible.
Who is responsible for a deceased person credit card debt in North Carolina?
The estate is responsible for the decedent's credit card debt.
Is an authorized credit card user responsible for credit card debt if the primary card holder declares bankruptcy?
No. The card holder is responsible for all debt on the credit they extended to him. (You may be responsible to the credit card holder for the debt he incurred for you, if that was your agreement).
Who is responsible for outstanding credit card debt if bank cancels your credit card?
You are because you incurred the debt.
Who is responsible for debt if a bank cancels a credit card?
The person who carried the card is still responsible for the debt.
Is the wife responsible for deceased husband's business credit card debt in the state of Florida?
In Florida, whether a wife is responsible for her deceased husband's business credit card debt generally depends on how the debt was incurred and the nature of the account. If the credit card was solely in the husband's name and used exclusively for business purposes, the estate may be responsible for the debt, not the wife personally. However, if the wife was a co-signer or if the debt was incurred for joint expenses, she could be held liable. It's advisable to consult a legal professional for specific circumstances.
Are you responsible for your dead spouses credit card debt if you own a house together?
Your dead spouse's estate is responsible for the credit card debt. In practice, this may amount to "you are responsible for it."
Would your spouse be responsible for your business credit card debt if you were to die if she is not an account holder?
Your estate is responsible for your debts. If the business is owned by the deceased, the business is responsible. A spouse is not responsible, but the amount they inherit will be affected by the debts.
Is your husband responsible for your credit card debt?
nomally
Can business credit card debt affect my personal credit card balance?
A business credit card debt can affect someone's personal credit card rating. A credit report for an individual is processed by activity of one's overall credit. This means that having debt for a business credit card can hurt a person's chances of receiving lower interest for a home finance loan.
Who is responsible for credit card debt incurred without marriage?
Whoever owns the credit card
If surviving spouse is insolvent is she responsible for credit card debt in Arizona a communty property state if her name was not on credit card and she never used credit card?
The estate is primarily responsible. However, a spouse is normally considered to benefit from such debt and can be held responsible.
