How long before your debt is written off?
For most debts, the time limit is 6 years since you last wrote to them or made a payment. The time limit is longer for mortgage debts. If your home is repossessed and you still owe money on your mortgage, the time limit is 6 years for the interest on the mortgage and 12 years on the main amount.
What do you need to know about being a responsible adult?
All of them. Utilities, rent, credit cards, medical bills, etc. They have a due date… and that due date needs to be adhered to. Strictly.
How to know who is responsible for appraisal fees?
So we know who is responsible for paying for the appraisal. In general, responsibility for paying the appraiser is determined in the engagement (agreement) letter between the appraiser and the client. The engagement letter should, at a minimum, clearly state the payment terms including the amount to be paid and who is responsible for payment.
Who is responsible for excess payable on both vehicles?
The guilty party isn’t required to pay the excess on both vehicles—it’s the policyholder that is responsible for the excess payable on his or her own policy. However, you can try to recover the money from the other party as they have to reimburse that excess.
Who is responsible for paying taxes to a subcontractor?
Contractor is not responsible for deducting, and shall not deduct, from payments to Subcontractor any amounts for withholding tax, FICA, insurance or other similar item relating to Subcontractor or Subcontractor’s employees. Subcontractor shall be solely responsible for deducting and paying such items.
Who is responsible for funeral costs if there is no will?
This is usually a spouse or close relative. If there is no executor appointed in the will (or no will), the probate court will choose an appropriate person, often the closest living relative. However, the money still doesn’t come out of the executor’s own funds. This money comes from any source.
Who is responsible to pay off the debts of a deceased person?
As a general rule, no one else is obligated to pay the debt of a person who has died. There are some exceptions and the exceptions vary by state. As a general rule, no one else is obligated to pay the debt of a person who has died.
Can a joint account holder be responsible for a debt?
A joint account holder is different from an “authorized user.” An authorized user is not usually responsible for the amount owed. If state law requires a spouse to pay a particular type of debt.
Who is responsible for a credit card debt?
If there was a co-signer on a loan, the co-signer owes the debt. If there is a joint account holder on a credit card, the joint account holder owes the debt. A joint account holder is different from an “authorized user.” An authorized user is not usually responsible for the amount owed.