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Marriage and Family
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There were 15 articles found in this category:
 If a spouse or parent dies, can creditors come after family members to collect the debt?
Generally speaking, you are not responsible for other people’s debt when they die, unless you are a co-signer on shared accounts with the deceased. If, however, the deceased is your spouse and you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico ...
- Am I responsible for my spouse’s medical debt?
In many cases, yes, but it depends on the state that you live in. Because of a legal designation called the "doctrine of necessaries”, in many cases spouses are responsible for the other spouse’s medical debt, even if the spouse dies. The largest determining factor is how your state ...
- What is community property?
Community property refers to the law under which most property acquired during a marriage (with the exception of gifts or inheritance) is owned jointly by both spouses and is divided upon divorce, annulment, or death. In the US, there are nine community property states: Arizona, California, Idah ...
- Am I responsible for my spouse’s debt?
Generally speaking, spouses are only responsible for joint accounts (not just credit card accounts, but installment loans like a car or home too). It doesn’t matter if the couple divorces or one spouse dies – with joint accounts, both are equally responsible for the debt. Like any ot ...
- What is an insurance risk score?
Insurance companies use insurance risk scores to determine whether or not they will issue insurance policies to consumers, the policy premiums, and how likely it is that consumers will file an insurance claim. So, in sum, this score determines your insurance risk. Insurance companies have determ ...
- When it comes to an authorized user account, is it better to include the authorized user's Social Security number on the account?
It really doesn't make a difference whether you include the Social Security number or not. The credit reporting agencies don't use Social Security numbers as the sole identifier for credit reporting. In fact, most credit card companies won't request the authorized user's Social when the primary ...
- Does adding an authorized user’s Social Security number make a difference in how the account history is attributed to the authorized user's credit reports?
Another good question in relation to this topic is, "Does adding an authorized user's Social Security number make a difference in the user's credit scores?" The answer to both questions is NO, not at all. Adding the Social Security number does not increase the chances or determine in any way whe ...
- If I add someone as an authorized user, will it help his or her credit score?
An authorized user account will help only if the account you are adding the authorized user to is managed properly and the balance isn’t too high. It’s also questionable as to whether or not the account will show up on the authorized user’s credit report(s). In July 2008, FICO ...
- How does an authorized user account help build credit history for the authorized user?
If an authorized user account is reported in the authorized user's credit report, the account will be included in the score calculation just as it would if they were the primary account holder as long as the account is a legitimate authorized user account (see FICO 08 authorized user update). ...
- Who is an authorized user?
An authorized user is someone who is added to someone else’s credit card account. He or she has a card and is allowed to use it but is not financially liable for any of the charges. An authorized user is simply legally permitted (authorized) to use someone else's card. You may have been an ...
- What is child identity theft?
Child identity theft is true identity theft in which the victim is a minor child. Because a child (or parent acting on behalf of the child) is unlikely to request credit reports or to try to obtain credit, the theft can go undetected for a long time. In fact, the theft may not be detected until ...
- Are children responsible for parents’ debt?
No, children are not responsible for their parents’ debt. There is only one exception: If the children co-signed on a loan with their parents, the surviving co-signer would still be responsible for paying back the debt (any co-signer, a child or otherwise, is always responsible for unpaid ...
- I'm getting married. What are the best credit cards for married couples?
When it comes to credit cards, married couples must decide whether to keep credit card accounts combined or separated. Would separate credit card accounts be best for you and your new spouse? What about opening a joint credit card account for household expenses? If you wish to share the credit c ...
- What is innocent spouse relief?
Most married couples take advantage of joint filing for the money-saving benefits. But along with the savings comes big disadvantages. When you file jointly, you’re held liable for your spouse’s tax blunders! This means if your spouse under-reports income, you get the blame, too! The ...
- How do I get my ex spouse’s name off my car loan and title?
You’ll need to refinance the auto loan into your own name to get your ex-spouse off of the loan. In essence, you’ll be buying the car from your ex-spouse. The spouse who is responsible for the car loan payments should be the one to assume credit liability. It’s a really good id ...
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