Debt Collection

Some states do not require a court procedure to foreclose a mortgage. There is usually a requirement to send written notice to the mortgagor (debtor) and to publish a notice of the foreclosure in a local newspaper. Then a representative of the mortgagee shows up near the property on the date set for the foreclosure auction. If there are bidders, there may be an auction. If there are no bidders, the representative may in some states just set foot on the property for "entry and possession."

Yes and no. Alabama is not a community property state, so the only way he would owe anything on those bills is if he put himself up as a guarantor over the medical expenses. It is common practice for hospitals to try to get spouses into that position.

No. The account becomes the sole property of the survivor.

Depends on the State, however any deceased persons assess would be drawn down on their assets through probate. This means that if you held joint assets with the spouse; ie., home, banking, investment accounts, then what every value therein is up on the table for the creditors. In those States that have community property laws your at 100% risk of loss, however non-community states your risk is 50%.

No. Debt collectors contracted by the owner of the debt to contact the debtor for payment. In most cases they will say anything and harass you into make a payment. Depending on how their payroll works- If you do make a payment, they get a comission on the payment you make.

Debt CAN be settled with credit card debt and other unsecured debts. Negotiating a settlement is between you and your creditor and settlements have happened for millions of people and helped them get out of debt.

i cosign for a car am on ssd the car was rep ode now there after me to pay the loan

Money received from a third party to pay off a debt is generally not considered taxable income for the debtor. This is because it is viewed as a payment made on behalf of the debtor rather than income earned. However, if the debt is forgiven or canceled, the amount forgiven may be taxable as income, depending on specific circumstances and tax laws. Always consult a tax professional for personalized advice.

No. There is an order by which creditor's must be paid upon a decendent's death. This depends on state law. But, the executor is never held liable for the debts of the decedent. There would be an exception to this if you are listed as a co-borrower on your sister's credit cards.

Everest Debt Solutions is one of the best debt settlement companies. My husband and I had gotten deep into debt almost $80,000 worth since I had my hours cut and my husband lost his job in the construction industry. We were trying desperately to find a solution. We called each of the credit card companies and all but one of them REFUSED to work with us. We looked online for help and with our local Chamber Of Commerce and Everest Debt Solutions was recommended as accredited and a member of USOBA. Our program began in 2008 and so far we have settled almost $65,000 worth of credit card debt. Some of the creditor tactics were a bit harsh however we successfully waited them out and reached settlement for more than half off the balance of the account. On specific creditor settled for 20% of the balance after only 9 months which was outstanding. I would recommend Everest to my friends and family and surely to the WIKI community.

Yes, a bank levy can be stopped. Generally if a levy is attached on your saving account, it means that you have unresolved debt. In most cases, a bank account can be levied by IRS or state taxing authorities. If you did not take actions, the debtors are authorized to take your money in the saving account to pay for the debt.

So contact your debtors and try to figure it out. If possible get an attorney to help you deal with it. More information, you can go and check the related links.

If creditors have filed claims against the estate and there is no cash to pay the claims then the real property must be sold to pay the debts. The debts of the decedent must be paid before any property can be distributed to the heirs.

The money is gone after foreclosure.

An invoice would show you how much money is owed to vendors. It is essentially a bill or request for payment with updated totals and balances.

Yes it can ! Depending on how resilient the company is - they can chase you round the planet to recover their debt ! If necessary, they can even have you deported back to the UK to face a court of law ! Better to settle on an agreed repayment plan !

If you are her legal heir - YES

Yes, you are responsible for the difference in the balance you owed and the amount they sold it for.

i.e.: owed 50,000, they sell it for 30,000; you still owe them 20,000.

Not without a formal intimation of change of interest rate.

Yes - if the account is in joint names, and one of the named people dies, the surviving person assumes all liability for the outstanding balance.

No - the surviving spouse is not liable for the deceased person's bills !

Her estate is responsible for all debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.

If the trust is properly drafted the property can be removed from your estate entirely. However, the trust must be drafted by an expert in trust law. If the grantor retains any power over the trust property, it will be vulnerable to creditors and taxation. You need to consult with an attorney with a great reputation who is an expert in trust law. She/he can review your situation, your needs and explain your options.

No - if you've defaulted on payments to the card company, they have the right to recover their money by any legal means. By the time they're telling you they're about to garnish your wages, they've usually sent numerous reminder letters - which you've obviously ignored.