0
What else can I help you with?
If you have a 135K loan on an RV with 18 years left to pay it off what will happen if you stop paying if you don't care if they take back the RV and can they go after your other assets?
Assuming the vehicle is repossesed and sold to satisfy the debt, you will still be responsible for any debt remaining after the sale. It all depends on whether the vehicle is worth more than the remaining debt. If you are "upside down" in the loan you are liable for the difference.
If a house is not paid off and is left to an heir what are their responsibilities?
The mortgage is a debt against the estate which must be satisfied before the heir receives anything. If there is enough cash in the estate, the mortgage can be paid off and the heir will get the house. If not, the house will need to be sold, and the proceeds used to pay off the mortgage. If there are not enough assets in the estate to pay off the mortgage, there won't be anything left for the heir. It is the responsibility of the executor of the estate to see to all these transactions and to deliver the proceeds--what's left after settling the debts--to the heir.
Can unsecured debt be contested by an estate?
The executor of the estate can contest the debt. One of the things they must do is validate that all debts are accounted for and valid. Only then can they determine how to distribute what is left.
Was national debt ever been fully paid off?
Yes, several times. Most recently, President Clinton was able to balance the budget in his administration, despite having inherited a deficit from President George H.W. Bush. It was not several times and Clinton didn't do it. In fact the national debt was $5,727,776,738,304.64 when Clinton left office. Clinton left office with about a $1.5 trillion increase to the national debt. The only time the national debt has been paid off was in 1835 under President Andrew Jackson.
If your father and stepmother are both deceased and left their home to you and your siblings are you responsible for the mortgage or foreclosure of the property?
Because the property was not owned outright by the deceased persons being willed the property are responsible for the debt attached as well. If they do not want to take the financial responsibility of paying the debt or selling the property they can allow it to be included in the probate procedure and therefore are not responsible for foreclosure or other litigation connected to it. yes, you are responsible otherwise you lose the house you don not get it free just because someone dies. only the person named as heir to the house has to pay. just did this.
What do you do with deceaseds bills?
They are the responsibility of the estate. They are either paid or the creditors are left without payment.
Wife left and left you with debt and refinancing?
Unfortunatly, because you were married, her debt is your debt. You are both responsible. You can try to pay it then sue her for lost income.
Are you responsible for debt if you are in the will?
No. The debt will get paid first and your inheritance will come out of what is left.
The most significant consequence of the seven years war was?
That it left Britain with an enormous debt.
If you have a 135K loan on an RV with 18 years left to pay it off what will happen if you stop paying if you don't care if they take back the RV and can they go after your other assets?
Assuming the vehicle is repossesed and sold to satisfy the debt, you will still be responsible for any debt remaining after the sale. It all depends on whether the vehicle is worth more than the remaining debt. If you are "upside down" in the loan you are liable for the difference.
How did several 18th Century wars hurt the French monarchy?
they left France deeply in debt
Who is responsible for a mortgage if the owner dies before its paid off and the house is left to her son in a will?
The mortgage should be paid by the remaining estate. If there is not enough cash left to pay off the mortgage, the house can be sold and the mortgage paid at closing, or if the mortgage is assumable, the son may take on the mortgage as his own debt and keep the house.
What were economical effects of the Revolutionary War?
The war left the nation with a debt of about $27 million.
Will you be forced to sell deceased mother's house in Maryland left to and where family members are living to cover mothers credit card debt?
Yes, the house will probably have to be sold to pay off the credit card debt if there are no other assets. The alternative might be for those that live there and are to inherit to take out a mortgage and buy the house from the estate for the amount of the credit card debt and pay off the credit card bills. This would eliminate the credit card companies placing a lien on the house and allow them to get clear title.
What happens when one dies and they owe on their house?
When a person dies and still owes on their house, the debt typically becomes part of their estate. The estate will be responsible for paying off the mortgage using the assets left behind by the deceased. If the debt is not repaid, the lender may go through foreclosure proceedings to recover the amount owed.
Can you sell a car left to someone in a will to satisfy debts of the estate?
As executor of the will it is your responsibility to pay all of the debts of the deceased from his estate before the beneficiaries get what theyve been bequeathed so yes you can sell a car if there is not enough money from any other source to pay the debt.
After French and Indian War Britain was left with?
Debt
