answersLogoWhite

0

Who is responsible for payments when creditor deceased?

Updated: 8/17/2019
User Avatar

Wiki User

15y ago

Best Answer

Normally this would fall to the Executor of the Deceased Estate. It is the responsibility of the Executor, to collect all payments and settle all debts of the Deceased.

the deceased person's husband or wife.....if they weren't married then the property that the loan is for gets returned to the bank, which technically still owns it because the loan wasn't fully repaid.

User Avatar

Wiki User

15y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Who is responsible for payments when creditor deceased?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

In Louisiana is the surviving spouse responsible for the child support payments of a deceased individual?

no


Are you responsible for social security payments incorrectly made to your now deceased wife?

yes you may not spend these payments. YOu wil have to pay back.


Your deceased husband co sign for a house note for his son but you did not sign his son is letting it go back to the bank will be responsible?

You can be sued from the bank or creditor


In Alabama is a surviving spouse responsible for the credit card debt of their deceased spouse?

Alabama is not a community property state, the surviving spouse is not responsible for creditor debt unless he or she was a joint account holder.


Can a lien take your child support?

No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.


Are you responsible for your deceased husbands car payments if your name is not on the title or on the loan?

unless his will states otherwise you inherit all of his property and debt. that includes, loans.


Can a creditor repossess property if you are making payments?

no they cannot


Can you make payments to a creditor who froze your bank account?

Payments can be made from out of the frozen accounts simply by authorizing the bank to transfer the money in the frozen account directly to the creditor.


Are children responsible for the debts of their deceased mother in Illinois?

The estate of the deceased is responsible for the debt.


Do adult Children have to pay the credit card debt after the death of last parent?

The estate is responsible for the debts of the deceased. If there are any assets they must be used to pay the debts. If not then the creditor is out of luck.


Can someone claim his money given to the deceased person from their heirs?

Sort of. A creditor can sue the deceased's estate for repayment.


Is sister responsible for deceased brother debt if no will?

Without some other duty owed the creditor (ie: cosigner on a loan, executor of estate obligated to pay creditor out of estate assets), there is no responsibility for the sibling of the deceased to pay the debts of the deceased. Further, the executor of an estate has no personal liability to pay debts of the deceased beyond the available funds of the estate. ---- Atty. John Libertine is providing this information for research purposes only, and is not offering legal advice. Licensing information is subject to change.