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The estate is responsible for the debts of the deceased. If there are no assets in the estate, the debtors are not going to be able to collect. This can be challenging. If the deceased owned a house, the house would be sold to pay the debts. Cars, bonds, stocksand other personal property could also be sold to come up with the money.
What else can I help you with?
Are you liable for unsecured debt if you die in Florida?
A dead person in any state is not liable for debt. The deceased's estate is responsible for the debts to the extent there are assets in the estate to pay them.
If your car is repossessed and the person who cosigned for you files bankruptcy are you still liable for the repossession?
Yes. If you default on your car loan you will remain liable for the debt.
Are parents responsible for adult child's debt to an attorney?
Very generally speaking, in the U.S. a person is not liable for any other person's debt, unless that person is a cosigner on a loan or something.
When a person dies is the remaining daughter responsible for the debt of credit cards?
No. The deceased person's estate is liable for any of the debts of that person, but heirs are not liable for debts if the assets in the estate are not enough to cover the debts.
Would a cosigner be liable for debt?
Absolutely ! That's the whole point of someone co-signing the agreement. If the original person defaults on payments, the co-signer becomes liable !
Are you liable for debt cancelled in bankruptcy?
No you are not, If you deglared bankruptcy, that cancels your debt
Can a bank force parents to pay their child s credit card debt?
I don't know all of the facts, but I do that if the child is dead, the parents or legal guardians will be liable to pay off the debt.
My brother died in a car crash and has no estate I am the Executor or Administrator of an Estate because of legal case against driver The Hospital is asking for payment of debt am I liable for debt?
You are not personally liable for the debt. The estate is liable for the debt. If the law suit results in payment, it would have to be used to settle the debts.
If you marry a norwegian am you liable for his debt in Norway?
no
Who is liable for my husband's debt that he had before marriage?
He is. What he comes to the marriage with is his, including debt.
Can you be liable for someone else's credit card debt if you made their minimum payment every month out of your checking and you weren't a joint card holder?
No. Someone who pays the debt or an authorized user are not liable for the debt. Only someone named as a joint account holder can be held liable.
What debit am i liable for when Married in community of prop and husband deceased?
The only debt you're liable for - is anything in joint names. Any debt solely in his name died with him.
