Do you inherit debt when you marry?

Do you inherit debt when you marry?

In common law states, debt taken on after marriage is usually treated as being separate and belonging only to the spouse who incurred them. The exception are those debts that are in the spouse’s name only but benefit both partners.

How did I find out my ex had a loan in my name?

I have a loan in my name that my ex has taken out whilst we were together. I found out about it once we seperated. I have asked the bank for a copy of the credit agreement, which at present they can’t find, and I do not have any paperwork.

Why did my ex wife run up debts in my name?

I have been left with about £20,000 of debt which I am liable for, as she used my name. £8,000 is for a loan that was supposed to have been paid off. I paid the consolidation loan but she took the funds out of the account and it never reached the loan company.

What did my ex wife do with my money?

I paid the consolidation loan but she took the funds out of the account and it never reached the loan company. She has also cancelled payment for a credit card I had without my knowledge and left me owing £1,600 due to interest and charges. Previously she had also taken out payday loans pretending again to be me which I had to pay off.

Can a person get a loan in someone else’s name?

Sounds a bit suspicious to me. Banks just don’t allow a random to come into the bank and apply for a loan in someone elses name, it just doesn’t happen, sorry. The only possible way he could have got the bank into allowing him to bring paperwork home for you to sign, is if the agreement was a joint one.

When to move on from an ex debt collector?

When the partner has finally had enough, the ex must move on. However, memories of the relationship may remain in the form of unpaid bills, a declining credit score, and calls and letters from collectors. Getting collection agents off your back may become a personal mission. If The Debt Is Shared

Can a ex be held liable for a joint bank loan?

Therefore, if an ex spends the proceeds of a substantial joint bank loan and the relationship ends, each of the account holders can be held fully liable for the debt. If the ex is nowhere to be found, you may find yourself paying for his or her new clothes, shoes, furniture, and other items purchased.

Who is responsible for an ex’s joint credit account?

The fact is that a joint credit account is the responsibility of both parties who signed the credit agreement. Therefore, if an ex spends the proceeds of a substantial joint bank loan and the relationship ends, each of the account holders can be held fully liable for the debt.

Why is an ex an ex for a reason?

There is a popular saying that “an ex is an ex for a reason.” In some cases, the reason is that the person amassed a considerable amount of loan and credit card debt during the relationship. This unfortunate situation might reach the tipping point if the debt was accrued while cohabitating or by using credit accounts held jointly.

Therefore, if an ex spends the proceeds of a substantial joint bank loan and the relationship ends, each of the account holders can be held fully liable for the debt. If the ex is nowhere to be found, you may find yourself paying for his or her new clothes, shoes, furniture, and other items purchased.

Can a debt collector collect from an ex?

Debt collectors can be very aggressive, and if they are unable to find the ex, you are the next person they will approach to collect money owed. Their collection attempts often take the form of letters and phone calls from unrecognised numbers.

The fact is that a joint credit account is the responsibility of both parties who signed the credit agreement. Therefore, if an ex spends the proceeds of a substantial joint bank loan and the relationship ends, each of the account holders can be held fully liable for the debt.

What to do if EX is nowhere to be found?

If the ex is nowhere to be found, you may find yourself paying for his or her new clothes, shoes, furniture, and other items purchased. Rather than attempting to prove that these expenses were not yours, you may have to consider fully repaying the debt to prevent damage (or further damage) to your credit history.

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