2006-09-06 03:09:45 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
NO, unless someone elses name is on their checks and stuff. say like if MY name was on my parents checks as well so I could pay bills for them THEN yes I would be legally responsible.
I've already told my parents dont put my name on anything and dont die in debt =)
2006-09-06 06:50:34 · answer #1 · answered by wilowdreams 5 · 0⤊ 0⤋
All your possessions would form your estate, and your debts would be payed out of this fund before your relatives could inherit the remainder. If you are having debt problems, try speaking to the Citizens Advice Bureau, or similar. They can help deal with your problem, which is a much better solution than declaring bankrupt, and far better than suicide. Hope I'm being paranoid, and you are OK.
2006-09-06 03:15:53 · answer #2 · answered by Oracle Of Delphi 4 · 0⤊ 0⤋
Unless your relatives got in fast and grabbed possessions the answer is yes - If there is a will your estate includes all debts and creditors would be paid first, anything left (and your question suggests there isn't anything apart from debts) would then go the benefactors after all debts were paid.
2006-09-06 03:21:07 · answer #3 · answered by Barry G 2 · 0⤊ 0⤋
Relatives are not liable for the debt but the estate of the deceased is - so the creditors would get first bite at any inheritance.
2006-09-06 03:18:15 · answer #4 · answered by ? 5 · 1⤊ 0⤋
No. Unless there was a transfer of assets from the debtor to his relatives shortly before his death....
or if those relatives took the debtors assets after his death without satisfying his debts first...
2006-09-06 03:16:58 · answer #5 · answered by Andy FF1,2,CrTr,4,5,6,7,8,9,10 5 · 0⤊ 0⤋
creditors will attempt to bully you in paying them but you are not responsible for families bills, unless you are a wife or husband oof the deceased person [ my mother died 5 years agao and they harrassed my for over a year, i told the credit company my mother was broke, on social security and left no money except burial insurance, which was spent for her burial...and her last social security check had to be returned for the month she passed even thought it was the 22nd of the month she passed. so do not let them bully you, you are not responsible for relatives.......
2006-09-08 16:25:20 · answer #6 · answered by walterknowsall 5 · 0⤊ 0⤋
the creditors have to claim against your estate
if your debts are more than your assets then they have to write off the debt
2006-09-06 03:22:46 · answer #7 · answered by Anonymous · 1⤊ 0⤋