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Can a creditor still collect a debt after an estate has been closed?
Wiki User
∙ 14y ago
If the estate was duly probated and is now closed then the creditor is out of luck. When an estate is probated a notice is published and the creditors have a certain time period during which to file a claim with the probate court. That time period varies from state to state. If that time period has passed the creditor cannot collect.
Wiki User
∙ 14y ago
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If a credit card does a charge-off and sends it to a collection agency can the original creditor still try to collect?
yes
If a debt on your credit report says 'bad debt write off ' can the creditor still sue you or collect the money?
= If your credit report reports that you have a bad debt write-off, then it means that the original creditor has written off the debt, but they can still sell the rights to the debt to a collection agency and they can contact you and take legal action.
Do you still owe if the creditor does not cash the check or it was lost?
Yes, you still owe the money if for some reason the creditor does not cash your check or has lost it. The creditor can request a new check.
Can a creditor still charge interest rates if they are garnishing your wages?
If you have a garishee against your salary can the creditor still charge interest. Thanks Theo
Can a company who closes your account try to collect interest three years after closing the account?
Yes, if you still owed a balance at the time the account was closed. Just because a company closes an account does not mean that any balances that are owed to them disappear. If your account was closed and there was still a balance outstanding and you did not pay that balance, the company has every right to collect the balance and any interest outstanding.
Can a business that is closed still try and collect money owed?
Usually when a business closes it still has some assets, including accounts receivable (i.e.: money which it is owed), and those assets will be acquired by somebody. So the business that is closed isn't collecting money owed, but those debts can still be collected by someone.
Your mother died with no estate and all debts were closed What happens if she had a pending lawsuit that was settled a year after her death Can creditors still collect on the settlement money?
If there is a lawsuit that benefits the estate, the estate will have to be reopened. The creditors can make their claims. The court should not have a problem reopening it in this instance. The creditors can force it as well.
If a credit card does a charge-off and sends it to a collection agency can the original creditor still try to collect?
yes
If a creditor uses a collection agency to collect on a debt do you still have to receive some kind of statement?
No. The collection agency will validate the amount for you if need be, but the creditor no longer owes you the courtesy of a statement.
Your mother died 5 years ago in California and the estate was closed a year later so are you still liable for credit card debts as the sole beneficiary of her estate?
How could the estate be legally closed if there were still outstanding debts owed? Sounds like someone didn't do the job of running the estate properly. There could be a legal reason for the creditors to ask the estate to be reopened.
When a man dies how long can someone collect debts from the estate?
As long as the estate has assets and is still open. The estate has to pay off the debts. If the estate doesn't have the assets to do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Do you still owe the original creditor if it was purchased by another lender?
No, ih he sold it he no longer has any right to it. But frequently, they just hire or assign the right to collect it to another, in which case the debt is still owed to them.
Is a house bought from an estate in probate considered owned by the deceased or by the beneficiaries?
That depends on more details. If the estate is closed the property is owned by the beneficiaries or next of kin depending on the type of probate proceeding. If the estate is not closed yet then the estate fiduciary would still have some or all of the control over the property. You can provide more details on the discussion page.
What happens to judgment when the plaintiff goes out of business?
The judgment is still collectable, it does not simply go away. The creditor may assign the debt to a third party, who has full authority to collect it, however the creditor may notify you, the judgment debtor, ehere and when to send payments. its still a judgment against you, and will remain so until the creditor instructs the Clerk to cancel it, by stating you have paid, or rather "satisfied" the judgment against you.
If a debt on your credit report says 'bad debt write off ' can the creditor still sue you or collect the money?
= If your credit report reports that you have a bad debt write-off, then it means that the original creditor has written off the debt, but they can still sell the rights to the debt to a collection agency and they can contact you and take legal action.
Who is responsible for payments when creditor deceased?
Normally this would fall to the Executor of the Deceased Estate. It is the responsibility of the Executor, to collect all payments and settle all debts of the Deceased. the deceased person's husband or wife.....if they weren't married then the property that the loan is for gets returned to the bank, which technically still owns it because the loan wasn't fully repaid.
If a person files bankruptcy and it is discharged and closed it does not they can still take the inheritance to pay back creditors?
Once the debt is discharged, a creditor cannot reinstate it, even if you win the lottery.
