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If you die without a will, your assets will be distributed according to the intestacy laws of your state, which typically prioritize spouses, children, and other relatives. Any debts you have will be settled from your estate before any distributions to heirs. If your debts exceed your assets, your estate may be declared insolvent, and creditors may not receive full repayment. Ultimately, the lack of a will can complicate the process for settling debts and distributing assets.
What else can I help you with?
If you die what happens to your debt?
family
What happens when parents die and their debt is more than the assets by over 60000 in credit card debt and is this debt cancelled?
the debt dies with them... you owe nothing
What happens to consumer debt once dropped from a credit report?
They die
What happens when you die owing money for credit cards and utilities?
The debt is given to your closest relatives
What happens when then brain goes without oxygen?
you die
What happens when you travel to Saturn without protection?
you die
What happens when decapitated?
You die if you are decapitated, you can not live without a head!
What happens if there is no salt?
Salt is essential, without it you would die
What happens with your debt if you die and have no relatives?
Your creditors are entitled to be paid from any assets you have at the time of your death. Generally, if you have no assets they are out of luck.
What happens if you die and your debt is greater than your estate?
Funeral expenses get paid first. Medical debt related to death usually next. The rest is divided up (usually) pro rata.
What happens when debt can't be validated?
Legally there is no debt, if it can't be validated.
Can a debt collector take your vehicle in Alabama?
Yes However if you can prove to a court that it is necessary for your life and you can't work and live without it (ie you will die without it) then you can prevent it
