Does it disappear or is it passed on to the someone in the family?
2007-10-30 13:25:17 · 4 answers · asked by grate_groove 2 in Business & Finance ➔ Personal Finance
It passes to the deceased person's estate. They still owe the money, but if there is no money, the creditor is out of luck. They cannot go after anyone else. But, if you are left money in a will, any and all debts have to be paid before you can inherit.
2007-10-30 13:31:00 · answer #1 · answered by curtisports2 7 · 2⤊ 0⤋
If they held any assets at the time of their death, i.e. a house, car, then those things would be taken in order to pay off the debt. However, if they didn't have any assets, the debt would disappear.
2007-10-30 20:29:40 · answer #2 · answered by rachael b 2 · 0⤊ 1⤋
the family is left to pay them off with the remainer of the estate. in the event there isn't enough money then the family is stuck with it
2007-10-30 20:29:06 · answer #3 · answered by autumnbrookblue 4 · 0⤊ 1⤋
the family has to pick up the bills -- one way you can really screw over your kids!!!
2007-10-30 20:42:23 · answer #4 · answered by mister ed 7 · 0⤊ 0⤋