Re: Would I be responsible for debt of someone who passed away?

Posted by Taziblue (68.130.206.243) on September 24, 2003 at 11:59:57:

In Reply to: Would I be responsible for debt of someone who passed away? posted by Melony1997 on September 24, 2003 at 10:38:58:

When someone dies, the estate is processed through the courts - the will (if there is one) is presented to the court.

Creditors are notified that the person has died and are given the opportunity to file a claim against the estate.

If there are sufficient funds, after exemptions, to pay the creditors, then the creditors are paid out of the estate. If not, the creditors are notified that the estate is insolvent.

Statute of frauds: must be in writing; paying the debt of another person.

Most likely scenario here is that the creditors might be able to collect from the estate. If not, that will most likely be the end of it UNLESS you agree in writing to be responsible for the debt.

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