0
Can a seasoned primary trade line be transferred into a new individual's name legally?
Wiki User
∙ 14y ago
Accounts don't just get 'transferred.' Tradelines and trade lines accounts can be assumed. The distinction is that assumption is bidirectional: an individual must be relieved and forgiven of a debt obligation in order for another to assume it. Transferring implies that someone can just get the pay history put into their name, which is illegal. Account assumption existed way before tradelines, but primary trade lines have still dominated the credit enhancement industry for quite some time, until the credit bureaus started rolling out means of stopping companies from reporting them. Long story short, you can't get the pay history without also accepting the responsibility for an account and making ACTUAL monthly payments on that obligation. Credit bureaus and the governmental entities do not want people buying credit history, so you can't buy the history per se, but you can purchase the opportunity to build new history and inherit the balance history on an account you assume. The most famous company doing this that I know of, from seeing them on Fox News is Assumable Assets out of Kansas City, MO. Their website is http://www.assumableaccounts.com And, as always, proceed with caution in any tradeline or credit related transaction.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Can you describe the three ways capital is transferred between savers and borrowers?
Direct Transfer, Primary Market Transaction and Financial Intermediaries.
Is the cosigner the only one responsible on the loan?
The primary borrower is responsible for making the payments and adhering to the terms of the lending contract. The cosigner is legally obligated only if the primary borrower defaults on the lending agreement or files bankruptcy (chapter 7).
How much would it hurt your credit if the car you co-signed for gets repossessed?
Just the same as if it was your car repossessed. Legally, you hold the same liability as the primary buyer.
What are the consequences of signing a car loan when the primary borrower defaults on the payments?
When the primary borrower defaults the cosigner becomes legally responsible for the loan. If the cosigner is not able to pay the loan he or she can also be subject to legal action by the lender and the cosigner's credit score will be seriously affected.
Will a credit card company remove your name from an account if you and your husband are separating and splitting the credit card debt and he is the primary card holder on both cards?
If you are a joint holder, no. You signed a contract that was legally binding. If you're an authorized user, then you can be removed. In fact, you don't legally even have to pay the debt.
What determines the voltage that is transferred from the primary to the secondary winding?
The turns ratio between the primary and the secondary.
What is the primary way heat is transferred through a gas?
Conduction
What are the primary way that heat energy is transferred through the earth system?
air movements, storms, and ocean currentsthe primary ways that heat energy is transferred are air movement,storms,and ocean currents.
When a secondary consumer eats a primary consumer how much energy gets transferred?
the secondary consumer gets 10% of the energy from consuming primary consumer.
What are the primary ways that the heat energy is transferred through the earth system?
Radiation, Conduction, and Convection.
What percentage of the energy flowing through primary producers is ultimately transferred to secondary comsumers?
10%
Does Primary Raynaud's disease improve on its own?
About 15% of individuals improve
Who is responsible to appoint individuals as primary and alternate Equipment Custodians?
Commander
Who are the primary individuals in the nco rating chain?
Rated NCORaterSenior RaterReviewer
What is primary authority?
Primary authority is a legal statement to which everyone is subject, including individuals, courts, and the government. Primary authority is mostly used to establish a law.
If insured dies primary beneficiary dies 10 months later contingents benficiaries listed who get the money?
At the time of the insured's death, the primary beneficiary is legally vested in the benefits under the policy. At the time of the primary beneficiary's death, those benefits would be distributed according to the primary beneficiary's wishes, if legally expressed, and otherwise according to state intestacy laws.
Can my primary care doctor pRescribe diet pills?
Your primary care doctor is legally empowered to do so. Every doctor can decide what medications she will prescribe.
