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Question
My great-grandfather died in October from a fall. He left some credit card debt behind. To my knowledge most of the credit cards had agreements in case of death except one Chase Bank. He owes about $6500.00 and I received a call stating that the collection company would like to make arrangements. I can not afford to pay additional debt on my teaching salary while attending grad school and also this is not my debt. There is no will,living spouse or children. Are we responsible for this debt as a family? Do I need to question the collections agency on if there was a prior agreement with Chase Bank? I am seeking sound advice. Thank you for your time.
Sonya Marshall
You are not responsible for his debt. The estate must go through probate whether there is a will or not and the creditors have an opportunity to file a claim against the estate. If there were any assets the courts may order liquidation to satisfy creditor claims but if there wasn't much of an estate they cant get much. Write a letter to the creditor(s) and advise them there were no assets or insurance and you are not responsible to pay the debts. Send the letter by certified mail, return receipt requested and advise them to cease all contact. This should take care of things.
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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.
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