ctceo
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join:2001-04-26
South Bend, IN
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| Simmilar
Probably similar to the means that a company can go after next of kid for unpaid debt in the even of a loss. When either half of a Married couple Pass away the surviving half is responsible for paying the debts, and when that person passes away, next of kin (Legal Guardian, Child or Children (oldest one first) will have to bear the brunt, unless the company is willing to eat the debt.
I had a similar experience when it came to my Grandmother. I had been taking care of her because other family members were not, and when she passed away an estate was formed for which I was deemed executor. When her net worth was subtracted from her debts, the remaining debt in this case was forwarded to me, as I was executor of the estate, and her Legal Guardian when she was sick (a period of 2 years on average is what they consider before any special circumstances can be disregarded).
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Kearnstd
Elf Wizard
Premium
join:2002-01-22
Mullica Hill, NJ | however cant the will override the creditors? ive heard in many cases creditcard companies basicly get "boned" when the debter dies.
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Enlightener
join:2006-01-28
Cedar Park, TX | reply to ctceo
They are going after his estate. I don't know where you get the idea that next of kin are responsible for a deceased persons debt. Some crooked debt collectors will try to tell you that but it's bunk. |
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gh4456
Premium,VIP
join:2004-04-07
Beverly Hills, CA
| The difference would be if the dead person had a written contract obligating him to a debt, (ie credit cards, car loans, etc..) then probate court could assign assets to the creditors. However in this case, the plantiff has no signed contract and are sueing for damages for copyright infringment. Without it being proven, and now the person dead, I don't see how they have a legal leg to stand on. |
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ctceo
Premium
join:2001-04-26
South Bend, IN
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1 edit | reply to ctceo
This link explains what happens pretty well. In my case it was a personal loan she needed to help with medical bills, Home renovations to become handicap accessible, and to help her consolidate some debts that my grandfather had left behind several years prior. It was all worth it. I owe a lot to my grandparents for which I could never repay.
»ask.yahoo.com/20041025.html |
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