Question: Can I Make A Payment On Someone Else’s Loan?

Asked By: Harold Garcia Date: created: Jan 18 2022

Can I pay off someone else’s loan

Answered By: Wyatt Russell Date: created: Jan 21 2022

Loans versus Gifts

Technically, the IRS says a gift is anything you transfer to someone else without receiving full value for it in exchange. In the case of cash, such as if you write a check to pay off someone’s credit card debt, receiving full value means you’ll get the money back eventually – it’s a loan.

Asked By: Jeremiah Diaz Date: created: Nov 22 2021

Can you make a payment on someone else’s mortgage

Answered By: Justin Ramirez Date: created: Nov 25 2021

If someone you care for is falling behind on their mortgage or if you simply want to give them a gift that will last a lifetime, it is possible to pay for their mortgage. You can put down a large payment on the mortgage, either anonymously or not, or you can put someone else’s mortgage into your name.

Asked By: Malcolm Torres Date: created: Mar 21 2021

Can I make a car payment for someone else

Answered By: Colin Rivera Date: created: Mar 21 2021

If you purchase a car for someone else, you have the option to have the loan in your name or to cosign with the individual you’re buying it for. The only way to buy the vehicle as a surprise is to put in the loan in your own name. The title may be registered under both names.

Asked By: Diego Stewart Date: created: Jul 09 2021

Can you pay someone else’s car finance off

Answered By: Jake Peterson Date: created: Jul 12 2021

If you have a poor credit score or credit history and you can’t get car finance approval, it seems simple enough to ask someone else (usually a spouse or partner or parent or close friend) to take the finance in their name, while you promise to pay them for the monthly payments so they’re not out of pocket.

Asked By: Thomas Mitchell Date: created: Mar 30 2021

Can I make a payment to someone else’s credit card

Answered By: Andrew Parker Date: created: Apr 02 2021

Yes, it is possible to pay someone else’s credit card or add money to someone’s debit card. You would typically only need the person’s name and account number to pay, and instructions on where to pay (which vary from bank to bank). You would need their name and account number for that and can walk into any branch.

Asked By: Fred Collins Date: created: Sep 25 2021

Is it illegal to pay someone else’s bills

Answered By: Ethan Stewart Date: created: Sep 26 2021

You can make a payment on someone else’s loan or deposit money into someone else’s bank account without any consent or knowledge of the person whose name the account is in and it is perfectly legal. As long as you know what bank. You don’t even need to know the loan number.

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