Settling on deceased family member debt
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Posted by granddaughter
(65.223.191.82) on February 27, 2004 at 15:19:48:
My grandmother passed last year, leaving a credit card debt of 3K. Original creditor placed a lien on her estate (small home). OC stated that they would settle the debt for 1/2. We would like to keep the home in the family, but cannot pay the $3K at this time out of our pockets. What can we expect? Is a letter from the OC stating that they will consider the $1500 as payment in full and will remove the lein reasonable and sufficient? Can they send the remainder to collections even if they state that $1500 will settle the account? Thanks!
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