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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 when a person dies and is owed money by a friend. Is the debt written off?
The debt moves to his closest family member.
What happens when someone dies owing the IRS?
When someone dies owing the IRS, their outstanding tax debt becomes part of their estate. The executor or personal representative of the estate is responsible for resolving the debt, which may involve using assets from the estate to pay off the taxes owed. If the debt exceeds the value of the estate, the IRS may be willing to negotiate a settlement or payment plan with the estate's representative.
What happens when someone dies in your car do you get paid?
no
What happens when a person dies and is owed money by a relative?
If the debt is evidenced in writing it is the obligation of the executor to collect the debt owed to the estate.
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.
Does owner of quit deed pay mortgage if mortgagee dies?
Yes. If the mortgagee dies the debt is owed to their estate.Yes. If the mortgagee dies the debt is owed to their estate.Yes. If the mortgagee dies the debt is owed to their estate.Yes. If the mortgagee dies the debt is owed to their estate.
What happens to the power of attorney when someone dies?
When someone dies, the power of attorney becomes invalid and no longer holds any authority.
Is it true that baptism happens just before someone dies?
no
If someone dies and they had a no bail arrest warrant what happens?
Nothing
What happens to credit card debt when a person dies in Florida?
It becomes part of the probate procedure of the deceased's estate.
What happens when someone dies and they owe you money?
You can file a claim against their estate in probate court with proof of the debt. If you have proof of the debt and they have assets of value, you must be paid by the estate before any remaining assets can legally be distributed to their heirs. If they have nothing of value, than you have nothing you can claim from them.
