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In general, parents are not responsible for the debts of their adult child unless they have co-signed for the debt or are legally obligated to cover the expenses. However, some exceptions may apply depending on the circumstances and applicable laws. It's recommended to seek legal advice for specific cases.
What else can I help you with?
Are you responsible for the debt of an adult child living in your home?
Generally, you are not automatically responsible for the debts of an adult child living in your home unless you have co-signed or guaranteed the debt. Each situation can vary depending on factors such as state laws and specific circumstances, so it's best to consult with a legal professional for personalized advice.
Are children responsible for parents nursing home debt in NY?
In New Jersey the debts of the deceased are the responsibility of the estate. However, if one of the children was also a co-signer on any of the agreements they might also be responsible. Consult a probate attorney in your jurisdiction for help.
Are adult children responsible for a parent's nursing home debt in Pennsylvania?
In most cases the debts of the deceased are the responsibility of the estate. Anyone that was also a co-signer on any of the agreements might also be responsible. Consult a probate attorney that knows the Pennsylvania probate laws for help.
Does Georgia allow pension to be garnished?
Yes, Georgia allows pensions to be garnished for certain types of debt, including child support, alimony, and federal tax debt. However, there are limitations on how much can be garnished depending on the type of debt and the individual's circumstances.
Who is responsible for grandmother's credit card debt?
The responsibility for your grandmother's credit card debt typically falls on her estate after she passes away. If there are insufficient funds in the estate to cover the debt, the creditors may not be able to collect. It's advised to consult with a legal professional to understand the specific implications in this situation.
Can an adult child inherit a parents debt if there are no assets?
The estate will be responsible for the debts. A child is not responsible unless they co-signed for it.
Are the parents of a deceased adult child with no estate responsible for paying unpaid debt?
No, if they were not joint debtor's with the deceased they are not responsible for any of his or her debts.
Can a parent be held responsible for a minor child's debt?
Yes a parent can be held responsible for a minor child's debt if the parent co-signs on a loan with the child. For credit cards, if the child is an authorized user on a parent's account the parent is also responsible for this 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.
Is child responsible for debts of parents bankruptcy?
No, not unless the child was a co-signer and agreed to be responsible for payment of the debt.
Is a surviving parent responsible for deceased adult child's debt?
ONLY if the Parent Co-Signed for the Debt. Otherwise NO.
Is child responsible for parents credit card debt after death?
I think that would be paid out of the estate and not by the child.
Are you still responsible for a debt if your parents assume responsibility for that debt?
Minors cannot legally contract for a debt. Only their parents/guardians can assume that responsibility. So, your parents ARE responsible. On the other hand, if you are legally an adult and contract for debt - and your parents 'assume' responsibility for it -there would have to be legally binding paperwork naming them as the debtors in lieu. Simply giving their word is not sufficient, and you would remain responsible.
Are adult beneficiaries responsible for deceased parents debts?
No, you are not responsible for their debt. The only person legally responsible for a debt is the person that signed the contract for the debt. It doesn't matter if your dead parents left you money. Collection agencies cannot legally collect someone else's debt from you - but they will try. See the FDCRA to know your rights in debt collection.
Can debt collectors come after parents of adult child for unpaid bills?
Not unless the parents are a party to the agreement such as a co-signer.
Are adult children responsible for deceased parents debt in Minnesota?
Not unless they co-signed for the debt. The estate is responsible for any remaining debts. If there is not enough in the estate to cover them, someone will not get paid.
Are children responsible for parent debt after their death in VA?
The child is not responsible for the debts of the parents. The estate has to resolve all of these before they can close it out.
