NLIC.org

Mathew Said:

I can no longer pay my credit card debt. What legal actions can credit card companies take against me?

We Answered:

Speak with your credit card company as soon as possible, before you cant pay and they turn you over to collections. It depends on the company if they can offer you any assistance. I would suggest checking into a reverse mortgage on your home, but I believe you must be at least 65 to do that. With debt that high your creditors can take you to court and have possible liens placed against anything you own. You could try debt consolidation services, make sure they are non profit as some charge you for their services.

Tracy Said:

My landlord wants me to name them as an insured on my renters insurance. Is this OK?

We Answered:

This is not OK. Ask them to put you as an insured party on their condo insurances. The same argument they will make applies to you. Your insurance only covers what you own. If you need to cover inside walls, plumbing, wiring, etc., get a separate rider just for those items.

Check with your attorney general or state consumer protection or insurance commission/department.

They want a free ride at your expense. Unfortunately, some states don't protect consumers very well.

Mary Said:

Can't get insured, help!?

We Answered:

Exactly - if you're running a business out of it, you'll need to put the house on a commercial policy. I would NOT lie to the agent by saying you're renting it out. The down side is, it's material misrepresentation which, at best, voids all your coverage, and at worst, lands you in jail.

If you're going to independent agents, and they can't find an outfit to write commercial property coverage (which shocks me, I'd suspect they are just being lazy about it), you can ALWAYS apply to your state FAIR plan for commercial fire coverage, through one of those agents.

Of course, you're not going to be able to get licensed, unless you ALSO have commercial general liability, and comply with the local licensing codes.

I've written coverage like this before. It's not hard. It's EXPENSIVE though, and it doesn't compare to what a homeowners policy covers.

Rosemary Said:

In MISSOURI - How do I get a non-paying, non-responsive renter out of my house? Truck and trash at house?

We Answered:

Yep, just evict him.

If you haven't done an eviction before, look for a local eviction service or a lawyer that ONLY specializes in evictions (other wise a lawyer will charge way to much for the work needed, which can be done by anybody that knows how to file the right papers with the court.) It may cost you more but if it's done correctly versus you a new timer doing it wrong, it's worth every penny.

Typically an eviction takes about 90 days to finish with the sheriff showing up to get the old tenant out and giving you court ordered legal possession back.

Hector Said:

How can I rent out my airplane without going broke on insurance premiums?

We Answered:

There is no legal way around the problem as the premium is based on the exposure. Don't try to take any short cuts or it could cost you a lot more than a 1957 Piper.