YouвЂ™ll be responsible for a financial obligation you have to pay, like council tax or water charges if itвЂ™s something that the law says.
YouвЂ™ll also most likely need to pay a debt you agree to give money to someone if youвЂ™ve signed a contract to say. This may be something such as a:
- credit agreement, for instance in the event that youвЂ™ve bought a washer or applied for credit cards
- tenancy contract, in the event that you hire
If youвЂ™re in charge of a financial obligation it is called вЂbeing liableвЂ™. This means youвЂ™ll have appropriate responsibility to spend it. You should be able to challenge the creditor if youвЂ™re not liable. A creditor is any organisation or person your debt cash to.
Debts youвЂ™re perhaps maybe not responsible for
You may not need to spend a financial obligation if:
- it is been six years or even more since you made a repayment or had been in touch with the creditor
- there clearly was a challenge whenever you finalized the contract, as an example it or the agreement wasnвЂ™t clear if you were pressured into signing
- the creditor didnвЂ™t check always precisely that you might pay the repayments once you finalized the agreement
If perhaps you were a cardholder that is additional
If perhaps you were an authorised additional cardholder on somebody elseвЂ™s charge card account, as an example a spouse or partner, the charge card business can not request you to repay any debts regarding the card. […]