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What happens when a loan is cosigned and the borrowers file bankruptcy but the cosigner is deceased?
Wiki User
∙ 19y ago
The loan would be part of the bankruptcy filing. I can't see how the death of the cosigner is significant. (In financial terms, that is.)
Wiki User
∙ 19y ago
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Is the spouse of a deceased cosigner responsible for the debt?
The ESTATE is responsible.
If a cosigner has died and the primary borrower defaults is the cosigner's estate obligated to pay the debt?
Creditors/lenders will attempt almost anything to collect a debt. It is unlikely that a lender could place a claim against a deceased cosigner's estate and be awarded a judgment. But, there are no certainties in the murky creditor vs. debtor arena.
Is a surviving spouse who did not sign responsible for a loan the deceased cosigned?
The spouse would only be responsible if they lived in a community property state. Even then it is doubtful the contract would be valid if there were an attempt to collect the debt.
Your grandmother is a cosigner on your mothers house and your mother is now deceased is your grandmother now the owner?
Signing on a note is not the same as being on the deed. She certainly has a claim on the property, particularly if she helped pay the mortgage.
Can a personal representative on an estate file bankruptcy on behalf of the estate or on behalf of the deceased to avoid paying back taxes?
Estates do not go bankrupt. The assets are inventoried and valued and the debts are listed. The executor proposes a settlement to the court. If it is accepted, the estate is closed.
Is the spouse of a deceased cosigner responsible for the debt?
The ESTATE is responsible.
Can a lawyer still bill a deceased person?
Yes, but he is unlikely to get paid. The family of the deceased owes nothing for the decedent's debt load unless they cosigned a loan.
Can you file bankruptcy on your deceased spouses debts?
No.
Your recently deceased husband cosigned a home equity loan for your son Are you liable for the loan?
No just return the moneies
What happens if a loan is in default and is deceased but has a co signer?
The cosigner now owes for the loan.
Is a surviving spouse liable for payment of debt on a loan cosigned only by the deceased spouse in Kentucky?
No, Kentucky is not a community property state.
How can a cosigner sue estate of deceased borrower?
Consult with an attorney who can review your situation and explain your options, if any.
Is it possible for the executrix of an estate to file corrupt bankruptcy for that deceased individual?
An executor cannot file for bankruptcy in the name of the decedent.
Could creditors claim from a deceased estate if bankruptcy of the recently deceased occured 20 years ago?
The events from before the bankruptcy filing or discharge make no difference to anything incurred after. It is not a lifetime forgiveness!
When the cosigner dies is the spouse responsible for a repossion that she did not cosign for?
The spouse is not responsible and should not have this on her credit. But the estate of the deceased will still be responsible for the debt.
If a cosigner has died and the primary borrower defaults is the cosigner's estate obligated to pay the debt?
Creditors/lenders will attempt almost anything to collect a debt. It is unlikely that a lender could place a claim against a deceased cosigner's estate and be awarded a judgment. But, there are no certainties in the murky creditor vs. debtor arena.
What happens to a bankruptcy when someone dies?
An administrator or executor of the estate needs to be appointed and file an appearance in the bankruptcy court. The case can continue to discharge of debts of the deceased. Get an experienced bankruptcy lawyer if there no attorney of record.
