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In New Jersey, creditors can seek to collect debts from a deceased person's estate, but they cannot pursue the deceased individual personally. The estate must go through probate, where the executor or administrator will settle debts using the estate's assets before distributing any remaining funds to heirs. If the estate lacks sufficient assets to cover debts, creditors may not be able to collect anything further. It's important for the executor to notify creditors and manage claims appropriately during the probate process.
What else can I help you with?
What should you do if a creditor is trying to collect a debt on a deceased individual in the state of Georgia?
Refer them to the estate of the deceased. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Is there a limit to how long a creditor can try to collect a debt in England?
it was that if the creditor had not tried to collect within 7 years it was expired
Who is responsible for payments when creditor deceased?
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.
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.
Can a credit card company collect from you after your spouse's death in Texas?
Texas is a CP state, that being the case it might be possible for a creditor to hold the surviving spouse responsible for the deceased's debt if the estate is not adequate for repayment. Whether or not it is viable option for the creditor depends upon the type of debt that was incurred.
Can a creditor become an administrator of an estate?
Yes, they can. Often a creditor will file for an estate so they can collect their money.
How can a creditor collect monies owing from a deceased estate when executor ignores claim?
File the claim with the court where the probate has been filed. If the claim is ignored then speak with someone at the court about a motion to compel the executor to pay your claim.
What if a creditor is not on your credit report but trying to collect a debt?
You must pay all of your legitimate debts. A creditor is not required to report a debt to a credit bureau in order to collect the debt you owe.
Can debtors collect from a deceased's life insurance policy?
I think you mean "creditors," those who are owed money. Debtors are the ones who owe the money. In Texas, the proceeds from life insurance policies are exempt if a dependent is named as the beneficiary. Otherwise, the funds are not exempt. Of course, the creditor must know about the policy to collect from it.
Can the creditor continue to collect after a 'Motion For Relief Of Stay' is granted?
Yes.
How long does a creditor have to go after someone to collect a medical bill in Ohio?
I believe in Ohio a medical creditor can attempt to collect a bill for 7 years. However, they can hold onto the account as long as they decide.
Can a US creditor collect on an unpaid credit card when the holder lives in Europe?
No
