Whether you're borrowing money or providing a loan to someone else, a Promissory Note is usually the best way to establish a record of the transaction and make sure that repayment terms, for example, are clear and fair.
However, an “IOU†is generally regarded as only an acknowledgment of a debt, not a promise to pay the debt. However, this form is a written promise to pay a debt.
Under Maryland law, neither spouse is directly liable for the debts of the other. You are only liable for cards in your own name. How to separate your assets from your spouse's assets is much more complicated. To begin with, you should consult with an attorney to address this issue.
Ignoring or avoiding the debt collector may cause the debt collector to use other methods to try to collect the debt, including a lawsuit against you. If you are unable to come to an agreement with a debt collector, you may want to contact an attorney who can provide you with legal advice about your situation.
What to Include in a Debt Verification Letter Details about the original creditor. The original loan agreement that proves your obligation to repay. Documentation showing the age of the debt and the original delinquency date. A comprehensive itemization including dates for added fees and interest.
If somebody wrongfully records a lien against your property, you can file a lawsuit for what's called “quiet title” to ask to have the court order that the lien be removed.
Maryland's process for recording a lien claim is done through the court system. Claimants will need to deliver the lien form, an affidavit, and supporting documentation to the circuit court of the county in which the property is located. Filing a mechanics lien in Maryland actually requires initiating a court action.
How long does a judgment lien last in Maryland? A judgment lien in Maryland will remain attached to the debtor's property (even if the property changes hands) for 12 years.
And in nine “community property” states, including California and Texas, spouses may be equally responsible for debts incurred during the marriage, including medical debt.
No, you aren't legally responsible for your partner's debt unless you guarantee it or if it is a joint credit card account. Debt entirely in the name of your spouse, you are not responsible for.
(h) (1) Except as provided in paragraph (2) of this subsection, a spouse or another individual may not be held liable for the debt owed on a hospital bill of an individual who is at least 18 years old. (iii) Not required as a condition of providing any emergency or nonemergency health care services.
