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The estate of the deceased. The estate of the deceased is responsible for all debt incurred by the deceased. After all debt has been resolved, any remaining resources are available to the beneficiaries.
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Who is responsible for a persons debt after death?
The person who the will go with.
Are minor heirs responsible for debt after death?
Heirs are not responsible for any debt. The debt is the responsibility of the estate. If there are not adequate assets, the debtors don't get paid and the heirs will not receive anything.
Who is responsible for School debt after death?
The borrower, i.e., the person who signed the note, is responsible for payment. If the borrower has died their estate is responsible. If there is no estate the creditor is out of luck. If there was a co-signer then they will be held responsible for paying the debt.
Who is responsible for credit card debt after death in the state of Illinois?
Actually, the answer is the credit card holder is responsible for the debt if single, otherwise the spouse may be responsible for a partners debts. If it was made while they were married, otherwise, the bank can't collect the debt.
Who is responsible for your card debt in England upon your death?
Your estate is responsible. Other card holders on the account have a responsibility as well.
Is spouse responsible for medical debt after spouse's death if bills were incurred prior to marriage?
no.
Are children responsible for parent debt after their death in VA?
The child is not responsible for the debts of the parents. The estate has to resolve all of these before they can close it out.
Who is responsible for student loan debt after your death?
The student's estate is responsible for paying their debt unless there was a co-signer. If there is no estate the lender is out of luck. If there was a co-signer the lender will seek payment from that party.
I am in Oregon my Dad has died I am 23 and do not know what to do about his credit card debt Am I responsible I am in Oregon.?
AnswerNo, you need to send a copy of the death certificate to the credit card company. You are not responsible for your father's debt.
Would my mother's children be liable for any credit card debt she had at the time of her death?
Your mother's estate is responsible for her credit card debt.
If you die before your debt is paid does your estate pay it?
Yes. Your estate is responsible for your debts after your death.
If my husband dies and leaves credit card debt and our childrens parent plus loan debt am I responsible for assuming the debt in PA?
not if you have death insurance on the loan and credit cards
