What happen if a company like Rooms To Go gave a credit of $ 6,000 at 80 year old man and after 5 months he dies.
2007-10-19 16:10:06 · 5 answers · asked by angel 1 in Business & Finance ➔ Credit
Once payments stop, the company will repo the furniture.
If married the spouse will pay.
If not married the company will submit a claim to the estate and if the estate has any assets they may get part of their money.
2007-10-19 17:11:33 · answer #1 · answered by Gem 7 · 0⤊ 0⤋
The person's estate would be responsible for paying all debts before any assets could be distributed to the heirs. If there were no assets, the creditors would end up charging off the debt as uncollectible.
2007-10-19 16:15:19 · answer #2 · answered by bdancer222 7 · 0⤊ 0⤋
his estate has to pay it off then sell it to pay on bills & funeral arrangements. talk to a lawyer about it
2007-10-19 16:26:00 · answer #3 · answered by joes_mom86 5 · 0⤊ 0⤋
Then his estate pays it off.
2007-10-19 16:15:27 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Then the spouse is liable
2007-10-19 16:45:12 · answer #5 · answered by TwinMomma 4 · 0⤊ 2⤋