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The estate is responsible for debt. That is one of the reasons for opening probate.
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∙ 10y ago
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Do you have to pay a personal loan off if the person dies?
The estate of the person who dies is responsible for paying off the debt.
Who's is responsible for debt when a person dies in Oregon?
The estate or co-debtors.
If the person dies with a judgment against him are his heirs responsible for the debt?
It will come from the deceased person's estate.
Who is responsible for credit card debt when a person dies in West Virginia?
the deceased' inheiritance
If you are a co-signer and the other person dies are you still responsible for the debt?
Yes, that is the whole point of co-signing. Someone has to cover the debt. If one person dies, defaults or goes bankrupt then the co-signer is responsible. In death the estate is still responsible for the debt. If there is nothing left then the co-signer has to cover it.
Who is responsible for debt on a credit card after divorce and after person who made the debt dies?
Review the divorce decree. It typically specifies who is responsible for the debts of the couple. Their estate has to resolve the debt if it was assigned to them.
If a credit card holder has a judgment and dies who is responsible?
No one. The person left is not responsible for the debt. The credit cards want people to think that the family owes for the deceased debt, but they don't.
When a parent dies in Washington are children responsible for debt when there is not money or an estate?
They are not personally responsible. The estate has the responsibility to resolve the debts. If the assets are not adequate to resolve them, they have to be written off.
If a 20 something year old dies and has debt under their name is the parent responsible for the debt?
No. The person's estate would be responsible for the debt. The creditor could attach any assets owned by the decedent but if there are no assets the creditor would be out of luck.
If a dependent parent dies are the children responsible for the tax debt?
If a dependent parent dies then the estate will be responsible for their tax debt. If you are over their estate then you would have to ensure that the government gets their taxes.
What is bad dept?
A bad debt is a debt that cannot be covered, or the person responsible to pay it becomes insolvent (dies or becomes poor).It falls under the category of loss to company.Hope that helps.
Who is responsible for credit card debt when some dies in PA?
The person(s) named as the account holder. If the account was held jointly then the surviving account holder is responsible for the debt. If the decedent was the sole account holder the debt becomes a part of his or her estate and is handled according to probate laws.
