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Typically, the estate of the deceased individual is responsible for paying off any outstanding balances on credit cards. If the deceased person has a joint account holder or a cosigner on the credit card, they may also be responsible for the debt. In some cases, credit card companies may write off the debt if there are no assets in the estate to cover the outstanding balance.
You are protected during the term of his bankruptcy. If he does not resolve the debt under it, you will remain responsible.
The estate of the decedent is responsible for any debts owed by the decedent. Those debts must be paid BEFORE any distribution is made to the beneficiaries. The debts were incurred while the decedent was alive. The funeral expenses, by law, must be paid before any distribution can be made to the beneficiaries. It is the responsibility of the estate fiduciary to settle the estate by paying the debts of the decedents. The beneficiaries receive any assets that remain after those debts have been paid. See related question link.
No, a cosigner does not have any legal rights to the vehicle, but does have the legal obligation to repay the debt if the primary borrower defaults on the contract. An exception could be if the cosigner is also named on the title to the vehicle, and if so, how the title is worded.
Yes, the estate can be required to return a leased vehicle according to the terms of the lease. If you read the fine print, it's there. Do you think that the vehicle should remain the property of the estate when it was only leased in the first place? That's the idea of a lease, the vehicle belongs to the leasing company and they let you use the vehicle for the terms of the lease. The terms of the lease are defined in the contract. If the estate of the deceased has been sued, I'm sure it is consistent with the terms of the contract.
If any undistributed assets remain in the estate then the estate must be reopened and an estate representative must be appointed by the court.
According to the will,Joseph will remain the custodian of the estate.
AnswerIf you have already been the cosigner on the loan, you will remain so until the loan is refinanced or paid in full. It doesn't matter if the cosigner has lost their job or not. As long as the person is making their payments, the cosigner isn't affected at all.Good luck job hunting cosigner! :)
cant , once the cosigner has signed that contract its legal and will remain that way unlesssss you wait till the final of the repo and they have sold the car and are trying to collect a balance from you then you file bancrupcy
Provided the estate is solvent, she should be able to obtain the title to the home, subject to the remaining mortgage. She can remain in the home, but will have to satisfy the finance company's lien on the home through a new mortgage or paying it off. There may be additional clauses in the will directing that the mortgage be paid off by the estate. The executor of the estate, or their legal counsel, will be able to answer these questions.
If the judgment was granted against someone other than the deceased the judgment is still valid and will remain until it is satisfied or paid in full.