Posted on
September 24, 2009
at
3:01 am
Would you guys discuss debt liability? After death, in marriage, with divorce...
Posted on
September 24, 2009
at
3:01 am
Debt liability on what kinds of debt?
Posted on
September 24, 2009
at
3:14 am
Debt liability on credit cards would fall solely on the primary account holder, unless somebody else co-signs it.
Posted on
September 24, 2009
at
3:23 am
But debt liability between spouses in a community property state is split 50/50...regardless of whether 1 of the spouses co-signs the account or not.
Posted on
September 24, 2009
at
3:36 am
Debt liability in common property states depends on -who the account holder is But in both community and common property states, debt liability depends on-if the debt was acquired within the marriage or not
Posted on
September 24, 2009
at
3:38 am
Debt liability after death -The deceased estate would take care of the payment. If there is no estate, the next of kin would not be liable for the debt, the creditor would have to write the debt off.
Posted on
September 24, 2009
at
3:42 am
Debt liability after death - if there is an estate.The estate would have to be sold and distributed to the creditors. If the estate doesn't satisfy the debt - the balance would have to be written off.Unless there's a living spouse - in a community property state. The collectors would go after the surviving spouse to satisfy the balance.
Posted on
September 24, 2009
at
3:45 am
Debt liability after death - if there is an estate - and if there's a last will and testament.After the estate has been distributed to the creditors, if there are left overs (property or money) - it would be distributed to whomever are on the last will and testament, and according to order of priority.
Posted on
September 24, 2009
at
3:54 am
Debt liability after death - if there is not an estate - if there is a surviving spouse - if it's in a community property state - if the creditors/collection agencies went after the surviving spouse - if the surviving spouse needs debt reliefDepending on the amount owed, he/she can do credit counseling (Debt Management Plan) or Debt Settlement.Never bankruptcy - if there is not a lawsuit yet.
