0
Generally a deceased person's assets and debts are subject to probate procedure. State's establish laws pertaining to what property/assets can be exempted from probate action and what assets will be used to pay outstanding debts. All debts must be satisfied to the extent required by state law before any inheritances are distributed. Probate laws are applied differently depending upon the circumstances, such as there being a surviving spouse, the status of the debts (joint or sole) and so forth.
What else can I help you with?
In English Law What happens to credit card debt after the death of The card holder?
The Debt goes to be paid by his estate, if there is no money to pay the debt it just bad luck for the credit card company.
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.
If you die what happens to your debt?
family
What happens to credit card debt after the death of card holder?
This would depend upon the nature of the card holders' estate, whether they had a will, and the laws of their state of residence.
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
When do debt collection agencies wait to go after a debt after death of person?
5+2=7
Who is responsible for a persons debt after death?
The person who the will go with.
Can you give debt and taxes to your sis after death?
You do not 'give' debt to anyone. Your estate will have to resolve the bills, not your sister.
What happens to a lien placed on a property and that person who is owed the money dies?
The debt is owed to their estate.The debt is owed to their estate.The debt is owed to their estate.The debt is owed to their estate.
What happens if the executor of an estate don't pay for funeral and someone else is put on death certificate?
The funeral expense is one of the the first expense that must be paid in the statutory scheme of debt paying that executors must follow. If the executor hasn't paid that debt they risk personal liability. They should be reported to the court that appointed them. An incorrect name on the death certificate should be reported to the authority that issued the death certificate.
