Everyone struggles financially from time to time in life. There are always times we are on a tight budget; we don’t mean to overuse our credit cards, bounce that check, or not pay that bill that is long overdue. When we do things like this we must realize that the person or company we owe […]
Widerman Malek Law Blog
Paying the Debt of Another
Paying the Debt of Another
A question arose not too long ago about whether paying the debt of another would require continued payments. In other words if company A pays company B’s existing creditor for one month, or even several months, does company B now have an obligation to continue paying company A’s creditor? If company B does have an obligation, then the creditor can likely come after company B for company A’s debt should both companies fail to make a payment.
