Being an authorized user allows you to use another person’s credit card, but does it come with legal responsibilities? Boonchai Wedmakawand/Getty Images A parent adds a college freshman to their credit card so they can build credit while away at school. A husband taps his wife’s account so their household expenses land on one statement. … Read more
If someone dies while being sued for unpaid debt, the lawsuit doesn’t necessarily end automatically. Getty Images/iStockphoto Millions of Americans are dealing with debt-related issues right now, and for good reason. Inflation remains high, meaning budgets are stretched thin, and household debt is sitting at its latest record high. Credit card rates are also hovering … Read more
Creditors may be able to place a lien on inherited property in certain circumstances — but it isn’t automatic. Kmatta/Getty Images An inheritance is often viewed as a chance to improve your financial future, whether that means moving into a family home, selling a property for extra cash or simply holding onto an asset that’s … Read more
Debt doesn’t just disappear because the person who owed it has died, but what about the interest charges? Pla2na/Getty Images Settling someone else’s financial affairs after they die is rarely as straightforward as paying a few final bills and closing some accounts. After all, the process for handling those lingering balances can be confusing, even … Read more
Family members are often shielded from a loved one’s nursing home bills, but some situations can leave you on the hook. Jackaldu/Getty Images Over the last few years, the rising cost of long-term care has become one of the biggest financial concerns for older Americans and their families. With nursing home expenses reaching thousands of … Read more
Unpaid medical debt typically won’t follow surviving family members, but there are exceptions to that rule. PM Images/Getty Images For many families, the financial side of dealing with a loved one’s death doesn’t end with paying off the funeral expenses or settling an estate. In the weeks that follow a person’s death, their unpaid bills … Read more
Debt collectors often pursue surviving spouses for unpaid debt, but responsibility is far from automatic. Nuttawan Jayawan/Getty Images The financial aftermath of losing a spouse can be tough to navigate, and it can extend far beyond funeral arrangements and estate paperwork. In a period already filled with difficult decisions and emotional strain, surviving spouses are … Read more
Inherited money can have a big impact on your budget, but that doesn’t mean it’s automatically shielded from creditors. Dragon Claws/Getty Images With inflation elevated and now climbing, borrowing costs remaining high and household debt balances growing, most Americans are feeling at least some of the pressure this economic landscape is putting on their finances. … Read more
It’s important to know what happens after a lawsuit is filed if you’re a Social Security beneficiary with unpaid debt in retirement. golibtolibov/Getty Images For millions of retired Americans, the Social Security benefits they receive each month serve as the financial foundation that keeps monthly bills paid and essential expenses covered. But as high and … Read more
Social Security back pay generally receives the same protections as regular benefits, but there are exceptions to the rule. MargJohnsonVA/Getty Images For many Americans, a Social Security back pay deposit marks the end of a long and stressful wait. Disability claims can take months to clear, appeals can drag the timeline out further and retirement … Read more