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What does the phrase Borrower to confirm no new debt incurred mean?
Wiki User
∙ 16y ago
That means that you will sign a document with the wording to the effect that your finances are the same as they were stated on the application. That means, that since then you have not purchased a vehicle or other item that will require you to make payments.
Wiki User
∙ 16y ago
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Current trends of public debt in India?
trends of public debt in india
Who are the best debt collectors in the world?
The best debt collectors in the world would be International Collection Agency - The Debt Recovery Solution. They are recovery solutions for business and consumers.
When was Debt - game show - created?
Debt - game show - was created on 1996-06-03.
What is the statute barred limit in South Africa for old debt?
3 years or when the debt already had it birthday
What are the ratings and certificates for A Debt of Honour - 1922?
A Debt of Honour - 1922 is rated/received certificates of: UK:A
Is a cosigner on a car liable if the primary borrower is at fault in an accident?
No. A cosigner's only obligation is the debt incurred by signing the lending agreement.
What is considered a solely incurred debt?
if i need a car and i am in bankruptucy how can i get a letter of incurred debt
What does third world debt?
Third World debt is external debt incurred by Third World countries. Third World debt is external debt incurred by Third World countries.
Can a co-signer be relieved of responsibility on a home loan after a period of time?
No. A cosigner promises that the will be obligated for the debt incurred if the primary borrower defaults. The only way to be removed is by having the loan refinanced.
What is the debt incurred by Obama?
$15,000,000
How do you use incurred in a sentence?
The entrepreneur incurred a large debt among his investors.
Are you responsible for a debt incurred by your ex-husband on a credit card in your name in Ohio?
The person who is the account holder is responsible for the debt unless it can be proven the debt was fraudulently incurred.
What's a partnership when debt incurred before the date of his admission comes due?
What's partnership when debt incurred before the date of his admission comes due?
What does particulars of how and when debt incurred mean?
it means nothing
Can a cosigner sue for the debt incurred as a result of the primary borrower filing bankruptcy.?
No * In most cases, yes. Secured debts such as a vehicle are not dischargeable in BK. Therefore, the primary borrower is only temporarily avoiding action by the lender. If the cosigner is held responsible for the default he or she may sue the primary borrwer for damages incurred. ==ans == Yet another take: The cosigner is a co-borrower. By the primary defaulting he actually gets no more debt than he already had and agreed to be liable for. Whether he would have a claim for paying having to pay the debt he agreed to be liable for before the BK, instead of the primary, would depend on the (hopefully written) agreement between those two parties. While unlikely, it is possible that is noted in the loan document.
What does the term notice of default mean?
A notice of default is used to notify a borrower that they have defaulted on their debt. To default on a debt means to fail to repay it. So a notice of default reminds the borrower that he has not made a payment on his debt on time.
Can a creditor garnish both the borrower and the co borrower?
Yes. Both are equally responsible for paying off the debt.
