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Benefits of cosigning. Drawbacks of cosigning. You can help a loved one qualify for a loan. You assume full liability for payments and late fees if the main borrower falls behind or files bankruptcy
A car loan charge-off occurs when a lender moves an auto loan during accounting from the asset category to the liability category. Lenders charge off an auto loan when the borrower stops making ...
Have you ever wondered if you should pay off your car early? Find out whether it's a good idea, what the downsides are, and factors to consider.
Typically, these laws obligate adult children (or depending on the state, other family members) to pay for their indigent parents’/relatives' food, clothing, shelter and medical needs. Should the children fail to provide adequately, they allow nursing homes and government agencies to bring legal action to recover the cost of caring for the ...
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For example, in Arizona, the family purpose doctrine is applied very broadly and holds parents liable even for the negligence of a child driving a motor vehicle in defiance of driving restrictions placed upon him. [10] In Georgia, the 'family purpose' liability extends to third parties allowed by the teenage driver to operate the car.
Having PRRs entitles a parent to take key decisions relating to the child, such as where they will live and go to school, and what medical treatment they should receive. In addition, parents have an obligation to provide financial support for their children under the Family Law (Scotland) Act 1985 (c 37) and the Child Support Act 1991 (c 38).
Of course, home loans tend to be much bigger than vehicle loans, so the potential to save is much larger, but the logic works the same with your car loan. These strategies for early payoff are all ...