Sentences with phrase «liable on all of your debts»

Not exact matches

The pro-independence Scottish government says Scotland would be entitled to 90 per cent of Britain's oil wealth — based on divvying up the two countries» waters — but only liable for about 8 per cent of its 1.3 trillion pound ($ 2.1 trillion) national debt, based on its share of the U.K. population.

When a business credit card account is opened, a personal guarantee is when an officer of the corporation designates himself and is bound by contract to be liable for all debts incurred on the new credit card.

If you and the other account card holder can come to an agreement about who's responsible for which portion of the debt, the creditor may allow you to settle only on the part that you're liable for and let the cosigner continue payments on their portion.

Although Debtors do not believe they are liable for these debts, Debtors have made a good faith effort to make payments on the loans because the recipients of the loans are their son and granddaughter.

By guaranteeing the loan, Jane can now be held liable for the outstanding balance of the debt if her ex-partner has defaulted on the loan repayments.

Unfortunately, if you have a co-signer on any of your bankruptcy debt, the co-signer will be made liable for the entire debt except in Chapter 13 bankruptcy.

Depending on the state and the type of debt, a widow (er) may or may not be liable for a deceased spouse's debts.

Remember, if you have personally guaranteed a business debt — many lenders require that a small business owner take on personal responsibility for loans or lines of credit — you will still be liable for those obligations, unless freed by your creditors.

The Bank can exercise its rights against the Collateral Account even if you are no longer liable on Debt because of a statute of limitations or because of other reasons.

Bank can exercise its rights against Collateral Account even if you are no longer liable on Debt because of a statute of limitations or because of other reasons.

FYI: As far as taxes are concerned, if you have a negative net worth at the time of settlement (you owe more than you own), you are insolvent and not liable to pay taxes on any forgiven debt.

In the event of divorce, whether you are liable for your spouse's debts depends on any agreements you may have and your state's laws.

Recently, Orr & Brown obtained a jury verdict of over $ 500,000.00 on behalf of a local business client in a case involving complex legal issues, defeated a claim brought by a large materials supplier that a former corporate officer was personally liable for the debt of a defunct corporation based on a signed personal guaranty, and successfully negotiated a high - profile «business divorce» between 2 owners of a very lucrative and profitable North Georgia business.

The appellant sought to defend the mortgage action solely on the basis that a family trust, rather than the appellant, was the legal and beneficial owner of the mortgaged property and liable for the mortgage debt.

If you are married, your spouse may be held liable for your debt even if he or she did not cosign for your loan, depending on a number of factors.