The estate has already been sold, but is still in probate--can the bank attach itself for payment?
2007-02-10 13:22:08 · 8 answers · asked by dentalpro 1 in Cars & Transportation ➔ Buying & Selling
Any debt that anyone owes can be attached and claimed. The question is, will the holder of the note do so before the probate is closed?
2007-02-10 13:27:16 · answer #1 · answered by JD_in_FL 6 · 0⤊ 0⤋
they can but you said co-signer. that means there are two people on the loan. which means both parties are responsible. there is no real reason for the bank to attach the loan to the estate unless they believe that the other person on the loan can not make the payments or is not making the payments. as long as the payments are being made there is no reason for the lender to go after the estate, unless they are just doing it to guarantee payment. i know that the lenders i deal with would not go that route unless needed. as far as local banks and credit unions they can do quite a bit more than a national car lender can do as far as getting your accounts and other loans.
2007-02-11 16:06:11 · answer #2 · answered by ridgwayaz 2 · 0⤊ 0⤋
I believe Mike. they are no longer combing the obituaries interior the paper searching for ineffective cosigners. Make the money, shop your mouth close relating to the cosigner, and each little thing would be effective. whether they did locate out, now which you have the automobile, they might particularly you maintain paying particularly than repossessing in any case.
2016-11-03 02:51:17 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes, even though you die your debts do not. My pardner died leaving a credit card I never knew about, now the bank has sent me "the estate person" a 1099-C form showing "discharged credit" as "income" to the estate.
2007-02-10 13:33:12 · answer #4 · answered by startrektosnewenterpriselovethem 6 · 0⤊ 0⤋
the bank can still hold the estate liable for the debt, if you default. until the debt is satisfied, the estate cannot be finalized.
2007-02-10 13:28:53 · answer #5 · answered by de bossy one 6 · 1⤊ 0⤋
yes they can ,but this all depends on the actual amount left owed on it,if its a small amount they may not need to do this,but if they feel a good reason to do this ,they will,and they have the right to ,by law,good luck,i hope this help,s.
2007-02-10 13:28:43 · answer #6 · answered by dodge man 7 · 1⤊ 0⤋
dentalpro Big Big news for you!
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2007-02-10 13:39:48 · answer #7 · answered by dhg h 1 · 0⤊ 0⤋
yes, death does not eliminate u from financial responsibility
2007-02-10 13:25:43 · answer #8 · answered by mf mf mf mf mf fmf mf mfmfmfmfmf 4 · 0⤊ 0⤋