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The student's estate is responsible for paying their debt unless there was a co-signer. If there is no estate the lender is out of luck. If there was a co-signer the lender will seek payment from that party.
The borrower, i.e., the person who signed the note, is responsible for payment. If the borrower has died their estate is responsible. If there is no estate the creditor is out of luck. If there was a co-signer then they will be held responsible for paying the debt.
Yes, that is the whole point of co-signing. Someone has to cover the debt. If one person dies, defaults or goes bankrupt then the co-signer is responsible. In death the estate is still responsible for the debt. If there is nothing left then the co-signer has to cover it.
The estate of the deceased. Also anyone that was listed as a co-signer or joint account holder.
the co-signer
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 in your jurisdiction for help.
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 in your jurisdiction for help.
No. The father's estate is responsible for his debts. If there is no estate the creditor is out of luck.
Generally a person's estate is responsible for the decedent's debts. If there is no estate the creditors are out of luck. They should be notified of the death.
Yes. The estate is responsible for all debts, including medical bills.
His estate will be responsible. Indirectly, the wife will either have to pay it or get a smaller inheritance.
Provided the "child" is really an adult, check your state laws but generally 18 or 21, their estate is responsible for paying their debts after death. If they owed more than the total owed to all creditors at death, then the creditors are paid proportionately out of the estates assets. Any unpaid balance once the estate is empty the creditor has to write-off. No one else is responsible for these debts. If, on the other hand, a parent or family member co-signed for them, then the creditor can hold the co-signer responsible, but only for that account.