Browse Questions About Debt Responsibility - Page 1

Do I have financial liability for my life partner's debt?

Question - You should not be responsible for your life partner’s debts unless you agreed to be liable for them-by being jointly listed on the account, for example, or signed an agreement with the doctors or hospital that you would pay the bills.

1 Expert Answer, 1 Community Answer

Am I responsible for my parent's debt?

Question - In a word: No.

1 Expert Answer, 1 Community Answer

Can an ex-wife be held responsible for the home loan if their name was left on loan?

Question - Unfair and unfortunate as it may seem, your mother may remain responsible for the mortgage on the property, even though she understood that she was free and clear of any obligations on it after signing a quitclaim deed.

1 Expert Answer

Will I as executor pay for funeral and burial expenses for my father?

Question - Possibly two different questions here, with possibly two different answers.When a person dies, all of his or her creditors are notified -- and the outstanding debts are ranked in a hierarchy set out in state law and paid off from remaining estate property. And that happens before beneficiaries are entitled to take any property they may be left in a will...

1 Expert Answer, 4 Community Answers

As my father's guardian, am I responsible for his financial needs if he is unable to meet them?

Question - Your father's debts will remain his debts.In general, as legal guardian or conservator, you will be personal liable for debts you officially incur on his behalf only if:

1 Expert Answer

Who is responsible for the final costs of my almost ex-husband?

Question - Married people are not responsible for the individual debts of their spouses unless they have taken on the debts themselves, like when you co-sign a loan. So, even though you were still married at the time of his death, you aren't responsible for your husband's funeral expenses.

1 Expert Answer, 2 Community Answers

Can I be held liable for Dad's auto debt?

Question - In general, you would be personal liable for another person’s debt only if:

1 Expert Answer, 1 Community Answer

Is Mom liable for Dad's credit card debt?

Question - This sticky but not uncommon situation is handled slightly differently under differing state laws.

1 Expert Answer, 3 Community Answers

What happens to elderly credit card debt at death?

Question - What usually happens to a person's debt at death is that all creditors are notified -- and the outstanding debts are ranked in a hierarchy set out in state law and paid off from remaining estate property. If there isn't enough property to satisfy the creditors at the tail end of the list, for example, they are simply out of luck and out of pocket...

1 Expert Answer

Can SSI/Medicare/Medical/Hud Section 8 look for repayments of benefits paid to date, when I am no longer eligible for benefits going forward?

Question - You seem to be doing everything right, and there is no reason to worry about repayment to any of these agencies or programs. As long as you legitimately qualified when you were receiving assistance, there is no obligation to repay any of these programs if and when your income goes up and you no longer qualify...

1 Expert Answer

How can I reconcile the debt of my late father?

Question - Tthe key thing to know is that you, as an individual, have no personal responsibility to pay for your father's final debts.

1 Expert Answer

How do I get my husband to let me do the finances?

Question - PLS EXCUSE ME IF I AM BLUNT. I HAVE BEEN GOING THRU THE SAME THING FOR OVER A YEAR. MY HUSBAND WENT TO THE BANK AND TOOK MY NAME OFF EVERYTHING AND HID THE MONEY. I ASKED THIS SITE FOR HELP AND THEY ANSWERED. I TOOK THE POWER OF ATTORNEY RECORDED IT CHANGED ALL THE ACCOUNTS SUCH AS UTILITIES ON AUTO PAY...

2 Community Answers

Am I responsible for my father's nursing home bills?

Question - The IRS has been known at times to work in strange and confusing ways -- and this seems to be one of them.

1 Expert Answer

Can Medicaid take your house, even a jointly-owned home, to pay for long-term care?

Question - Your father's interest in the house won't count against him should he need to enter a nursing home, because a person's primary residence is exempt when Medicaid counts a person's assets in determining eligibility. Upon his death, however, if the house remains partly in his name, Medicaid may...

1 Expert Answer, 4 Community Answers

Will I be held responsible for my mom's credit card debt after she dies?

Question - What usually happens to a person's debt at death is that all creditors are notified -- and the outstanding debts are ranked in a hierarchy set out in state law and paid off from remaining estate property.If there isn't enough property to satisfy the creditors at the tail end of the list, they are usually simply out of luck and out of pocket...

1 Expert Answer

Can my father's credit card bills be set aside?

Question - To be clear, a person's credit card debt cannot be transferred to his or her family upon his or her death. This means that your father's credit card debt will die with him. I'm mentioning this because collection agencies will say almost anything to get the debt repaid, so it's important that you be...

1 Expert Answer

If I declare my mother as a dependent am I liable for her credit card debt?

Question - Not likely. You are generally responsible only for credit card debts on your own accounts or arguably on accounts where you have accepted and used a card.

1 Expert Answer

What is the priority for paying debts for an estate in Tennessee?

Question - The rules for the priority of payment of the debts of a decedent vary somewhat from state to state. However, generally, the order is as follows: First, the expenses of the administration of his estate; second, funeral and medical expenses from his last illness; third, an allowance for the decedent...

1 Expert Answer

Am I liable for the debts of my parents after they've died?

Question - My mother recently died and my father died last year. My mother ad several credit card bills, a mortgage, and a car payment. Am I liable for any of it?

Am I responsible for my father's debts if I have power of attorney?

Question - If you haven't done it yet, your first order of business should be to check with the NYC authorities and unravel what went wrong with the disrupted benefits. Arm yourself with patience, perseverance, and politeness. Getting to the bottom of the mistake will likely require all of them...

1 Expert Answer, 4 Community Answers

If my father takes out a loan and then dies, who is responsible for it?

Question - I live with my elderly father. He is dying and wants to take out a 10,000 loan. He still hasnt accepted the fact that he is dying. What I want to know is , if he takes out this loan, will I be responsiable for it. At his passing I inherit the house and the land. He also has a 27,000 life insurance policy...

Am I responsible for the debts of the person for whom I have durable power of attorney ?

Question - A little bit of relieving news in your rather complicated picture: Being named the agent in your aunt's durable power of attorney will not make you personally responsible for her debts.While I am the last attorney to recommend running to an attorney for help -- there are very often less expensive and...

1 Expert Answer

Is it okay to only pay home expenses and let credit card debt slide while mom is in hospice care?

Question - Credit card companies have not been doing well in regard to public opinion lately and your situation certainly does nothing to enhance their reputation. I suggest that you contact the credit card company and ask to speak to a supervisor. Explain your mother's situation and that she is not in a position to pay the credit card balance at this time...

1 Expert Answer

Am I liable for a bounced check from my wife if I'm not actually on the checking account?

Question - Regardless of whose names appear on the actual check, the important factor is who are the joint owners of the account. Therefore, in this situation when the wife started writing bad checks, the husband was no longer a joint owner of the checking account and he has no personal liability...

1 Expert Answer

FAQ: Am I Responsible for My Parents' Debts?

Question - Many people are concerned that if their parents are unable to pay their debts, they -- the adult children -- will be responsible for them. In general, though, children are not legally responsible for their parents' debts. However, there are certain circumstances in which this simple rule gets more complicated...

FAQ

1 Expert Answer, 3 Community Answers

What are my mother's options with regard to paying off her debt?

Question - The good news is that you are in a position to help your mother. Because you are a trustee, are named on her accounts, and have a power of attorney, you should have the authority to discuss these matters directly with the credit card companies, help your mother develop a plan, and help her follow it...

1 Expert Answer

Am I responsible for repaying my grandmother's credit card debt if I am an authorized user but did not incur the charges?

Question - My grandmother has just been placed in a nursing home. We have found that she has a larger amount of credit card debt than we once thought (about $20,000). There are two issues. The first - she has no income now (since the nursing home will be getting her social security) and no assets, so who is responsible for paying the debt back...

Can I be held responsible for my mother's medical bills?

Question - Medicare Part A hospital insurance usually leaves some chunk of hospital bills unpaid, even with supplemental Medigap insurance like your mother has. Many hospitals will negotiate with low-income Medicare patients about the part of the bill that Medicare and insurance don't pay...

1 Expert Answer, 3 Community Answers

From what money are final expenses paid first?

Question - We often hear about our money that you can't take it with you, but when it comes to debts, you can leave them behind.

1 Expert Answer

How do we settle a loved one's debt after her passing?

Question - There’s a good self-help book that will provide you with all the step-by-step guidance you need to administer the trust—from locating and managing and distributing the property to writing the proper correspondence to all required businesses and agencies.

1 Expert Answer

Can government or any creditor put a lien(s) against real estate property for outstanding debt?

Question - Can government or any creditor put a lien(s) against real estate property for outstanding debt?

Should my aunt file for bankruptcy, although she owns a house?

Question - You have asked about filing for bankruptcy to pay for care for your aunt. The picture you describe is complicated and bankruptcy may not be the best way, but it is an option. However, first things first.

1 Expert Answer

After we inherit a house, are we still responsible for the debts attached to it?

Question - You may wish to negotiate on behalf of your grandfather with the credit card holders as to the total amount or the interest. Assuming that the home was put into the trust before your father owed the credit card companies any money, once he passes away, it would be difficult, although not impossible...

1 Expert Answer

Is Mom's estate responsible for son's credit card, if she was an authorized user but didn't?

Question - An authorized user is not responsible for the payment of charges for on the credit card regardless of the source of the charges. The payments are the sole responsiblity of the person or persons who are designated as the account holder or holders.

1 Expert Answer

What options does a caregiver have in foreclosure?

Question - Not a Housing issue entirely but that the only topic that fits to begin with.

Should I keep paying Mom's car payment and credit cards while we wait for Medicaid approval?

Question - While waiting to find out if our mother has been approved for Medicaid can I still use her monthly income to pay her car payment and 2 credit card bills? I'm not certain about the process and don't know if the money is available. I have stopped paying her car payment and the credit card bills because I was told that all of her money has to go to Medicaid...

Will we still get financial help if we walk away from our mortgage and debts?

Question - My husband and I draw a total of $900.00 per month from s.s and s.s.i. he is 66 years-old and I will be 65 in couple of months. He has medicare and medicaid, and we receive foodstamps. What would happen with this help if we walked away from the mortgage and/or credit cards debts? We cannot afford to pay everything and to save any for r...

Is there any assitance programs available for survivors?

Question - You ask if there are any assistance programs available to (low-income) survivors, that can can help her obtain insurance proceeds for her deceased. It's possible that a Legal Services office can help, if there is such a program in or near Shoreline, Washington...

1 Expert Answer

How can I get mom to spend within her means?

Question - I own a condo with my mum - I pay the $1600 mortgage and she pays the $800 maintenance fees - I can no longer afford to maintain this and she continues to spend above and beyond her means, even though she works, she got a second mortgage to pay off her debt and promptly ran up debts again - HELP!

What can I do to help mom pay for her debt?

Question - Several yeas ago my parents applied for a reverse mortgage to help pay bills, live, etc. Recently I discovered that there isn't any more money because they chose the "lump sum" option. Dad passed away several days ago and mom needs money to pay for some serious debt. My husband and I have helped her paying bills but we don't want to go into debt ourselves...

My father died 2 years ago and we are getting bills for the hospital. How long after his death do I still have to pay for them?

Question - My father died 2 years ago and my mom is getting bills that she had never gotten before and they are asking for payment. How long after the death does she still have to pay the bills?

I have power of attorney and my sibling wants me to make him a loan. How to handle this?

Question - You are not overreacting.

1 Expert Answer

My sister inherited mom's house. After it's sold to pay off debt, where does remaining money go?

Question - As I can decipher what you've written, your sister was left your mother's house in your mother's will. But that house is already under a court order to sold to pay off debts. (I presume debts of your mother). You want to know who receives the remaining money (if any) after the sale.

1 Expert Answer

How can I help my mother if she refuses my help?

Question - You are in a very frustrating position, but I think you answered your own question when you said "I can't help her if she won't let me." It sounds like you've tried in good faith to offer help, and your mother doesn't want it, for whatever reason, so there is nothing else you can do at the moment...

1 Expert Answer, 3 Community Answers

Am I still responsible for paying a loan that mom signed, and that I can no longer afford?

Question - I am unclear what your ownership situation is regarding the home. You state that after your mother died you have been making the monthly mortgage payments on the home [OK] and you "now have an administrative deed on the home." I do not know what an "administrative deed" is...

1 Expert Answer

Can you hold off on the reading of a will for five years?

Question - The key is whether your grandmother left a will that named an executor in it—that is, a person who is responsible for accounting for the property your grandmother owned at her death and then distributing it as the will directs. If so, that executor is responsible for doing the job “within a reasonabonable time” after the death occurred...

1 Expert Answer

If you owe more in reverse mortgage than a house sells at market value, who gets paid first?

Question - If you owe more than the house is worth, and go to sell the house at market value which is below the reverse mortgage balance due, with the proceeds from the sale, can you first payoff the closing costs and realty commissions before paying any proceeds to the bank?

My mother can no longer pay off her debts. What do we do?

Question - I am assuming that your mother has no assets from which she can pay her credit card debt. It would be helpful to know the amount of the credit card debt, but regardless, you can attempt to negotiate with the credit card company to pay off the debt with a small lump sum if you are able to come up with an amount to do so...

1 Expert Answer

Should my dad divorce his wife to avoid being financially responsible for the housing choices her daughter is making for her?

Question - First and foremost, you should seek legal advice and assistance from an attorney. The answers to your questions may depend on the specific laws of the state in which your father and stepmother live, including community property laws and laws pertaining to legal capacity and power of attorney.

1 Expert Answer

Can a child be held liable for a parents' debts and long term care costs?

Question - A friend is now caring for her father in her home. Can she be held liable for any financial debts he may have or long term care costs? Do the rules change if she were to make him a dependant for tax purposes?

How do we pay off my late father's debts?

Question - While your father’s debts live on without him, the banks and lawyers cannot get paid from assets that don’t exist. The standard process is to notify all of the known or potential creditors and then state law sets out an order in which they should get paid.Often official “notice” to these creditors oditors occurs through a probate court proceeding...

1 Expert Answer

Am I responsible for my mother's medical bills if she passes away?

Question - Even if you are the one who helps admit your mother to the hospital, it is not likely that you will be legally responsible for covering her medical bills.In general, you would be personal liable for your mother's debts only if:

1 Expert Answer

Is there a statute of limitations on when creditors can ask for money after a parent's death?

Question - It must have been quite an unwelcome surprise to receive that bill. Your hunch was right: There is a statute of limitations for creditors’ claims against an estate. New Jersey gives creditors nine months from the date of death to present claims to the personal representati...

1 Expert Answer

Am I responsible for my mother's medical bills after death?

Question - It is not likely that you will be legally responsible for your mother's final medical bill -- although the doctors and hospitals may attempt to collect from you.In general, you would be personal liable for your mother's debts only if:

1 Expert Answer, 1 Community Answer

How can I convince my parents to accept my financial help?

Question - It is very difficult for some older people to accept financial help from anyone, particularly their children. A good first step would be to tell them that you have set up your own financial plan that includes investments, retirement, insurance and estate planning. You could then offer to work with them to help organize a similar financial plan for them...

1 Expert Answer

Can creditors make claim on the will first?

Question - It is not really a matter of jeopardizing their Will, but creditors have a right to be paid from the assets of an estate before the remaining assets are distributed to the beneficiaries named in the Will. As executor it would be your duty to see that their debts are paid from their assets before the distribution of the assets to the beneficiaries...

1 Expert Answer, 1 Community Answer

How does an executor get hep paying for bills after death?

Question - A short certificate is usually the local probate court's certification that an estate proceeding is on record, and most courts will issue them only after the probate is complete, so the paperwork you were issued here is a little confusing. First, the easier news: As executor, you should not be legally...

1 Expert Answer

Can creditors access Mom’s checking account?

Question - I have recently had to take over my mother and step-father's finances as they are unable to do this for themselves. They have mot been able to keep up and they have multiple items turned over to collection agencies. I have tried to make arrangements with these agencies but most are not interested in small payments...

Is there help for someone under age 65, who has serious illness and little money?

Question - You've begun with the right place in applying for Medicaid, which can cover almost all of your mother's medical expenses. If she has no savings or income, she can qualify even if she owns her home.

1 Expert Answer, 5 Community Answers

What happens if I default on a reverse mortgage?

Question - Hi,

1 Community Answer

How is debt handled when applying for Medicaid?

Question - First, let's tackle the question of your personal responsibility as holder of the power of attorney. Your status as "attorney-in-fact" or "agent" (those are two terms that are usually applied to the person who is appointed in a power of attorney) does not mean that you become responsible for your mother's debts, including her credit cards...

1 Expert Answer

Is there any way to get my father-in-law out of his IRS bill?

Question - The first thing you need to do is make sure that you have the authority to act on behalf of your father. If your father executed a Durable Power of Attorney appointing you to be able to act on his behalf, you will be able to act on his behalf with the IRS...

1 Expert Answer

How do we stop getting harassed about medical bills we don't owe?

Question - First, in regard to being harassed by the collection agencies, the Fair Debt Collection Practices Act outlaws a number of abusive, unfair and deceptive collection practices. And perhaps most important to you, the Fair Debt Collection Practices Act provides you with the right to stop collection agencies...

1 Expert Answer

Questions About Debt Responsibility

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