Tag: debt

am i responsible for my common law partners debt

am i responsible for my common law partners debt插图

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If you brought debt into the relationship,a common-law relationship does not automatically create joint responsibility for the debt. If the both of you apply for new debt together,like a joint loan with the bank as co-applicants or if one partner co-signs for the other,then both partners are equally responsible for the repayment of the debt.

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  • When does a common law partner become responsible for common debt?

  • WHEN DOES COMMON-LAW MEAN COMMON DEBT? Someone typically becomes responsible for their common-law partner鈥檚 debt when they have agreed to be one of the following: A Co-Borrower or Joint Applicant: The most typical type of co-borrowing is applying for a mortgage together.

  • Who has to pay a debt after common law separation?

  • To figure out who has to pay a debt after common-law partners separate, it is important to know who the debt belongs to. Each partner is responsible for his or her own debts, so after they separate, they don鈥檛 have to help pay the other person鈥檚 debts.

  • Can a common law spouse sign for the same debt?

  • As before, the debts you sign for are your debts and your responsibility, and the debts your common-law spouse signs for are his or her responsibility. If you both sign for the same debt, then you are both responsible for the debt. If one of you fails to pay, the lender may come after the other.

  • What happens when you become a common-law spouse in BC?

  • Luckily, becoming a common-law spouse in BC does not mean you are now responsible for your common-law spouse鈥檚 debts. As before, the debts you sign for are your debts and your responsibility, and the debts your common-law spouse signs for are his or her responsibility.

    how to settle a debt with a law firm

    how to settle a debt with a law firm插图

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    How do law firms settle debt? You canmake a payment plan with the creditor to pay off the sum of the debt or partially pay the sum in a lump-sum settlement. That means you and your creditor agree that you’ll pay less than the full amount you owe, as long as you repay a significant fraction of the debt quickly.

    People also ask


  • How do I get a lawyer to collect my debt?

  • Many offer free consultations, and you can find attorney referrals through the National Association of Consumer Advocates (NACA). If you can pay a portion of the debt or make monthly installments, you can call the collection law firm to discuss this. These firms often work on contingency, meaning they earn a percentage of what they get you to pay.

  • What does a debt settlement lawyer do?

  • After completing successful negotiations, a debt settlement lawyer will review the entire settlement agreement to make certain that the debtor is fully protected once the settlement has been paid and that creditors will have no recourse to pursue additional collections later.

  • Is debt settlement an option for You?

  • Debt settlement is an option worth exploring, regardless of where a debt is in the collection cycle. There鈥檚 also the option to pay the debt in full by setting up a payment plan with your creditor.

  • How do I resolve a debt collection lawsuit?

  • A debt collection lawsuit can potentially be resolved with debt settlement. You can do this on your own or hire a debt settlement attorney to help. You can make a payment plan with the creditor to pay off the sum of the debt or partially pay the sum in a lump-sum settlement.