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You father's death does not release you from your obligation. You now owe the money to the estate.
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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.
Can a son make you sell the house after his father dies and the mother is still alive?
Can a son make you sell the house after his father dies and the mother is still alive?
Does owner of quit deed pay mortgage if mortgagee dies?
Yes. If the mortgagee dies the debt is owed to their estate.Yes. If the mortgagee dies the debt is owed to their estate.Yes. If the mortgagee dies the debt is owed to their estate.Yes. If the mortgagee dies the debt is owed to their estate.
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.
What do you call your father in law after your wife dies?
you still call him DAD
When a parent dies are children responsible for a debt they still owe to the parent?
They still owe the money to the estate. The executor may offset their inheritance by that amount.
If your father dies is his car paid off?
If your father dies, any debts he had are passed along with his assets. If he still owed money on his car, his heirs get the car and the loan balance. There are exceptions, like if insurance provides for payment of an outstanding debt on a loan in the event of death, but these are exceptions to an almost universal idea that all things of value in an estate as well as all outstanding notes and such are handed down as a package.Think of it this way. If you loaned someone money for a car and that person passed on, you'd still be owed the money or have a "stake" in the car. Any who inherit the "goods" of the deceased will also take on any outstanding debt. You loaned the money for the car. If the person who borrowed the money dies, you still have an outstanding debt with the heirs of the departed. You'd expect to be paid, and law provides for this.
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.
If the father who pays child support dies to you still get child support from the government?
Social security
Who pays the debt if your partner dies?
nobody
For how long can an unsecured debt be pursued?
until the company writes the debt off or the person owiing the debt dies
If a relative dies with credit card debt is the estate resposible to pay back the debt?
Yes
