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Are siblings responsible to creditors with a negative balance estate?
Wiki User
∙ 13y ago
In most cases the debts of the deceased are the responsibility of the estate. Siblings are not responsible for the debts. Anyone that may have been a co-signer on any of the agreements might also be responsible. Consult a probate attorney in your jurisdiction for help.
Wiki User
∙ 13y ago
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What is the effect of liquidation on creditors?
When a company liquidates, creditors generally receive less money than they owe. Creditors will have to write off the balance, so that their books can balance.
Can a self directed IRA have a negative balance?
No, IRAs can not have a negative balance.
Does paying off your credit card balance each month improve your credit rating?
Absolutely. Keeping a low balance in ratio to your credit limit will keep your credit score high, as will payinig the balance each month because it demonstrates a pattern or responsibility. Yes. You have to pay ALL creditors regularly and as agreed to keep from getting negative points on your score. If you just pay one or two creditors it won't help. They don't really care if you pay them off or carry a balance, so long as it is being paid according to the agreed terms.
What is a negative collected balance?
Negative collected balance is a term used in accounting to describe accounts that are cannot be collected on. This means that they have tried several times to collect the balance and have been unsuccessful.
Can common stock have a negative balance?
is the opening balances of accumulated depreciation in a balance sheet
Can creditors account have debit balance?
creditors have debit balances as advances receive from creditors..........
What is the effect of liquidation on creditors?
When a company liquidates, creditors generally receive less money than they owe. Creditors will have to write off the balance, so that their books can balance.
What is the creditors balance?
money owed by the company
Who is reponsible for credit card debt upon death?
If there is a co-signor on the accounts, they will become responsible for the balance due. If there is not a co-signor, creditors can attempt to collect from your estate. If your estate is not enough to cover the balances due, the remainder will be written off by the creditor leaving no one responsible for the balance.
What is the foreclosure sale price?
The balance due to the creditors.
Why creditors would be interested in the balance sheet of a business?
Creditors are interested in balance sheet to check that how much money company has already taken as a loan from other creditors and how much assets are pledged and will company be able to return credit or not.
Transaction that will decrese an asset anf decrease a liability?
Payment to the creditors Creditors Decrease Bank balance decrease
Negative collected balance?
Negative Collected Balance = Ledger Balance - Float, given Float > Ledger Balance.
Can a self directed IRA have a negative balance?
No, IRAs can not have a negative balance.
What is responsible for balance?
Vestibular apparatus from the middle ear is mainly responsible for balance.
Sundry creditors shows?
sundry creditor shows credit balance
Do you have to pay the boat loan if you do not own the boat but am the excecutor of the will?
As the executor, you are responsible for ensuring that the assets of the deceassed cover any of their debts. If there s still a negative balance an equity, the estate becomes property of the deceased home state and the creditors are out the money. You are in NO way responsible, and cannot inherit another individuals death. Unless of course you sign a re-affirmation that you are taking over the note on the boat, in which case it then becomes your property.
