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You are required to contact all of the debtors by letter. Advertising in the paper for three months (weeks?) is also required. A full accounting has to be presented to the court as well.
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∙ 13y ago
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What if the individual did not declare bankruptcy prior to death but the estate is bankrupt?
If the estate is declared bankrupt by the court the heirs receive nothing and the creditors are out of luck.If the estate is declared bankrupt by the court the heirs receive nothing and the creditors are out of luck.If the estate is declared bankrupt by the court the heirs receive nothing and the creditors are out of luck.If the estate is declared bankrupt by the court the heirs receive nothing and the creditors are out of luck.
A sibling dies who pays the medical bills?
Her estate is responsible for her debts. That means any property she owned at the time of her death should be paid over to her creditors. If there is no estate then the creditors are out of luck.
Who is responsible for credit card debt when there is no estate?
Generally a person's estate is responsible for the decedent's debts. If there is no estate the creditors are out of luck. They should be notified of the death.
Who submits the estate notice to creditors?
That is the responsibility of the legally appointed estate representative. If no estate is opened and no representative appointed because there is no estate, any family member can notify the creditor of the death. It will likely request a copy of the death certificate. It is best to notify creditors as soon as possible to avoid debts going to collection as delinquent.
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.
Can you spend money out of an estate if a notice to creditors of death was never published?
No, you have to follow the legal procedure before the estate can be settled. If a person uses the money form an estate without going through these procedures they are committing a crime and will be liable for the losses to creditors.
Who is liable for your mothers hospital bills if there is no will?
Your mother's estate is responsible for her debts. If she owned any assets then her estate must be probated to give her creditors the opportunity to make claims. If she had no assets then you should notify her creditors of her death by sending a copy of the death certificate with the bill to the billing office.
What are creditors rights after death of debtor and probate assets are insufficient?
The estate is responsible for payment of debts. If the estate is insufficient it is deemed to be insolvent and the creditor is out of luck.
If there is no money in a person's estate that has passed away do their loans that are unsecured have to be paid?
The estate is responsible for the debts of the deceased. The creditors should be notified of the death but they are out of luck is there are no assets.
Is a daughter still at college responsible for her fathers debts after his death even though he left no money?
The estate is responsible for the debts of the decedent. If there is no estate the creditors are out of luck.
What happens if you have judgments against you after you die?
Your creditors can make claims against your estate if you own any property at the time of your death.
How do creditors capture medical debt after death?
They place their claims with the estate. The estate is responsible for settling all debts, or as many as possible. If the estate does not have enough to pay all the bills, they will distribute it as evenly as possible.
