Sentences with phrase «amount of joint debts»

Not exact matches

If you open a joint account which offers credit, and one account holder racks up a large amount of debt they can't pay back, you both risk having a bad entry on your credit report.

In fact, even in the special situation where there is a legal separation agreement stating that each partner is to assume half of the joint debt, a creditor can still pursue the other spouse for all amounts outstanding if one of the partner defaults.

Although only Direct Loans may be repaid under Pay As You Earn, your (and, if you are married and file a joint federal tax return, your spouse's) eligible FFEL Program loans will also be taken into account when determining whether you qualify for Pay As You Earn based on the amount of your federal student loan debt relative to your income.

The debtor spouse is no longer liable for that particular joint debt to the creditor, but the non-filing spouse remains liable to the creditor for the full amount of the debt.

If you and your spouse have a large amount of marital debt, filing a joint bankruptcy petition may be a way to resolve those debts before the divorce process begins.

Joint and Several Liability — the Lender can collect the full amount of the debt from anyone who signed the note.