View Full Version : Collections & estates
GregPam
Dec 28, 2008, 12:46 AM
Im in Ga and have collectors filing on mothers estate for credit cards previously charged off. And after1 filed in court another says he represents that one but amts vary 8K,(k,&10K for same acct#.
Please if anyone has sound advice, What do I do?
ScottGem
Dec 28, 2008, 04:29 AM
First, charging off a debt does not change the obligation to pay.
Does your mother's estate have enough funds to cover the debts? If so, then the executor has a fiduciary obligation to pay them. There is an order by which debts are paid out of the value of the estate. Once the debts are paid, then the beneficiaries of the estate can split what remains. If the estate is not enough to cover all the debts then you pay them according to law for your area and tell the rest of the creditors there is nothing left.
cdad
Dec 28, 2008, 10:43 AM
Im in Ga and have collectors filing on mothers estate for credit cards previously charged off. And after1 filed in court another says he represents that one but amts vary 8K,(k,&10K for same acct#.
Please if anyone has sound advice, What do I do?
What exactly do you mean when your saying charged off? Was it through a bankruptcy prior to her death ? Or is this something that you have done on behalf of the estate ?
Fr_Chuck
Dec 28, 2008, 01:42 PM
If the lender merely charged them off, that is an accounting term
So what happens in probate, the money and property of the estate is put in, from it all the bills are paid. So you are suppose to be paying all of her bills from the money or property