You are here:
- Home
- Business
- Corporate Law
- Collections Law
- Debt after father's death
Collections Law/Debt after father's death
Advertisement
Question
My father died in April. I notified his 2 credit card companies, Citibank and Fina. Both said in different ways, "Closing account." Citibank told me there was a zero balance on both cards. nothing Due. Yet today I get a threatening letter that there is a $6K+ balance due from the estate. When i notified them in May I asked specifically if the estate was responsible and was told NO. FINA is similar, they asked if I wanted to be responsible for the account. I said "NO" they said account closed end of story. What are the right my sister and I have. There was a very small Life Insurance claim and most of that is going to moving the family heirlooms, cremation, wake etc. Please advise this is nerve wracking. Thank you.
Although you have no obligation for the debt they may file a claim on your father's estate. You might want to dig up some of their most recent statements prior to your fathers death to verify the balance on each account. If they have a claim and there are any assets the probate courts may require these debts be paid if funds are available. In this case I would offer a lump sum settlement for about 30 cents on the dollar. I would bet they take it.
I wouldn't lose much sleep over this. If your father had a meager estate they cannot get much.Take care of priorities as you mentioned.
Gook luck
- Add to this Answer
- Ask a Question
| Rating(1-10) | Knowledgeability = 10 | Clarity of Response = 10 | Politeness = 10 |
| Comment | Thank you. After much research I have already taken the action you suggested. Thank you, thank you, thank you! | ||
Related Articles
- Adoption Law Putative Fathers and Adoption - Erik Smith and Adoption Law
- Florida Adoption Act - Putative Father Registries - Erik L. Smith - Florida Adoption - Birth Father Rights
- Florida Adoption Law and Putative Father Registries - Erik L. Smith's Rebuttal to NCFA's Memo
- Debt – Dividing Debt During Divorce
- Unearth Wills and Estate Records - Online Genealogy
Answers by Expert:
Michael Brotherton
Expertise
Consumer/Debtor Rights Advocate. Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years. Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com. FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY. Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be. Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems. www.financialemergency.com (copy and paste in browser).
Experience
Over 40 years combined experience negotiating disputes and resolving financial issues related to consumer debt, corporate issues and mortgage modifications.
©2012 About.com, a part of The New York Times Company. All rights reserved.