YouвЂ™ll be in charge of a financial obligation you have to pay, like council tax or water charges if itвЂ™s something that the law says.
- credit contract, as an example in the event that youвЂ™ve purchased an automatic washer or applied for credit cards
- tenancy contract, in the event that you hire
If youвЂ™re accountable for a financial obligation it is called вЂbeing liableвЂ™. This means youвЂ™ll have appropriate responsibility to spend it. If youвЂ™re maybe not liable you ought to be in a position to challenge the creditor. A creditor is any individual or organization you borrowed from cash to.
Debts youвЂ™re maybe not accountable for
You may not need to spend a financial obligation if:
- it is been six years or higher because you produced repayment or had been in touch with the creditor
- there clearly was a challenge once you finalized the contract, as an example it or the agreement wasnвЂ™t clear if you were pressured into signing
- the creditor didnвЂ™t always check correctly you signed the agreement that you could afford the repayments when
If perhaps you were a cardholder that is additional
You to repay any debts on the card if you were an authorised additional cardholder on someone elseвЂ™s credit card account, for example a spouse or partner, the credit card company can’t ask.