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If you surrendered a RV can you be held responsible for debt after it is sold?
Bdixon1
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.
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∙ 14y ago
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Is the Executor responsible for paying credit card debt when the debt is being held by a collection agency there is a will the only asset is a home surviving children?
Yes, the Executor is responsible for paying off all the debts, or as many as possible, of the deceased using the assets of the estate. If the house has to be sold to settle the estate, then it must be sold.
Can an administrator be held responsible for debt of an estate to be paid out of the administrator pocket?
In most cases the debts of the deceased are the responsibility of the estate. If the house is an asset in the estate, yes, it may have to be sold. Anyone that was also a co-signer on any of the agreements might also be responsible. Consult a probate attorney in your jurisdiction for help.
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If you have any assets in the US. Such as real estate, it can be seized and sold for payment of debt. If there are co-signers or co-debtors, they will be held accountable for the debt(s). And the same process of collection can be used toward them.
Is the surviving spouse responsible for debt created solely in the name of a deceased when there are no assets to be sold by the estate because there were none in the deceased's name only?
Depends on the state you live in. If it is a community property state, all debts and assets are considered to belong to both spouses. If not, then only the person who signed the contractual agreement is responsible. However, jointly titled assets are not necessarily exempt from creditors. It depends on how they are held and what they are.
Are you responsible for the balance once your house is sold under foreclosure?
Yes, if the sale price is less than you borrowed (minus any capital amount you have paid off), you are still responsible for the difference and ongoing interest on the difference. If you are in debt you should seek help from a debt adviser - there are some who will help you for free, they will be able to get the interest frozen and advise you weather you should go bankrupt to free yourself form debt.
Is the Executor responsible for paying credit card debt when the debt is being held by a collection agency there is a will the only asset is a home surviving children?
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Can you be held responsible for your deceased fathers debt in California if you are the only heir and your fathers debt exceeds his assets?
If the debt exceeds the assets, the assets must be sold to cover the debt. Heirs are not responsible for any remaining debt. Certified letters along with a certified death certificate should be sent to each debtor that can not be paid in full after the sell of assets. In this case there would be no inheritance.
Can a company be held responsible for its services as sold by a resaler or wholesaler?
Yes, a company can be held responsible for its services as sold by a resaler or a wholesaler. The company that creates the product or service is often responsible for it regardless of where the customer purchased the product.
Can your car be sold if it was repossessed?
Yes. Usually the loan holder will be held responsible for any deficit and perhaps fees that are incurred when the car is sold.
Can an administrator be held responsible for debt of an estate to be paid out of the administrator pocket?
In most cases the debts of the deceased are the responsibility of the estate. If the house is an asset in the estate, yes, it may have to be sold. Anyone that was also a co-signer on any of the agreements might also be responsible. Consult a probate attorney in your jurisdiction for help.
If a wife dies with c-card debt only in her name with no will is spouse responsible to pay the debt and if he cant can they seize joint property to do so like a home that's paid for?
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Why are doctors afraid to write pain medications?
There is always a chance that they will be misused, sold or used for the wrong reason. They are held responsible for how the drugs are used.
Is a Widow responsible for auto debt in CA?
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What will happen if your debt was sold to a debt seller then the debt seller sells it back because you can not pay the lump sum they are requesting does it get bought out by another debt collector?
Hello, The debt is sold further to another company at even lesser value.
