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Is the spouse of a deceased co-signer responsible to pay back a debt if the borrower goes bankrupt in the state of Georgia?
Wiki User
∙ 19y ago
No. Georgia is not a community property state.
Wiki User
∙ 19y ago
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Is the spouse of a deceased cosigner responsible for the debt?
The ESTATE is responsible.
If a cosigner has died and the primary borrower defaults is the cosigner's estate obligated to pay the debt?
Creditors/lenders will attempt almost anything to collect a debt. It is unlikely that a lender could place a claim against a deceased cosigner's estate and be awarded a judgment. But, there are no certainties in the murky creditor vs. debtor arena.
What happens when a loan is cosigned and the borrowers file bankruptcy but the cosigner is deceased?
The loan would be part of the bankruptcy filing. I can't see how the death of the cosigner is significant. (In financial terms, that is.)
Who would pay the loan if the borrower dies and there is no co signer?
Unless there is insurance to pay the loan the estate of the deceased will pay it. If there is no estate, the lender is out of luck.
Can you be responsible for your deceased father's business debt?
Not unless you were a part owner or in some way connected with the deceased person's business or personal debts.
Is the spouse of a deceased cosigner responsible for the debt?
The ESTATE is responsible.
When the cosigner dies is the spouse responsible for a repossion that she did not cosign for?
The spouse is not responsible and should not have this on her credit. But the estate of the deceased will still be responsible for the debt.
How can a cosigner sue estate of deceased borrower?
To sue the estate of a deceased borrower as a cosigner, you would need to file a claim in probate court against the estate. The court will then determine if the debt owed is legitimate and if the estate is liable to pay it off. It is advisable to consult with a probate attorney for guidance through this process.
If a cosigner has died and the primary borrower defaults is the cosigner's estate obligated to pay the debt?
Creditors/lenders will attempt almost anything to collect a debt. It is unlikely that a lender could place a claim against a deceased cosigner's estate and be awarded a judgment. But, there are no certainties in the murky creditor vs. debtor arena.
Who is responsible for a deceased mother's car loan if the loan company is holding the title as collateral?
Nobody is responsible for the loan if there was on cosigner. If the car was inherited by someone, then that person has a right to pay the debt owed and take possession of the title.
Is distributed inheritance from a deceased cosigner's estate subject to creditor action when the primary borrower cannot make the loan payments?
The bank can go after the granddaughter for repayment. * Monies belonging to any persons other than the primary borrower would not be subject to creditor attachment. If the primary borrower received monies from the estate, that would be viewed as an asset if the creditor decided to file suit to recover the debt owed.
Is child liable for a deceased parent's debt?
As long as the child is not a cosigner on the debt, the child is not responsible for parent's debt. The parent's estate would be responsible for the debt. Technically this could reduce the inheritance the child receives, but it is not the responsibility of the child.
In North Carolina i8s the surviving spouse responsible for the medical bill of the dead spouse?
No, they may try to collect from you but for medical bills incurred by the deceased, the deceased's ESTATE is responsible for them. The Executor will have to address this matter with whatever funds are available in the estate.
Is it illegal to make payments on a car after the borrower is deceased?
The bank needs to know the borrower is deceased. I do not know if they would transfer the loan to you. Make sure your car insurance is also paid up.
What happens if a loan is in default and is deceased but has a co signer?
The cosigner now owes for the loan.
Are children responsible for the debts of their deceased mother in Illinois?
The estate of the deceased is responsible for the debt.
What happens when a loan is cosigned and the borrowers file bankruptcy but the cosigner is deceased?
The loan would be part of the bankruptcy filing. I can't see how the death of the cosigner is significant. (In financial terms, that is.)
