My mother passed away 7.19.07 & I have alot of bills including the banks bill from her truck that had to be repo'ed..What do I do since I am head of her estate??
2007-11-04 09:55:38 · 1 answers · asked by needhelp10940 2 in Business & Finance ➔ Personal Finance
Inform the creditors of her death. The lender usually demands that you have a life insurance when you borrow on a motor vehicle. This would pay up the balance of the loan. Inform the creditors that they will not be paid, that there is no more money in the estate to pay then..If there is any real estate it must to be sold to pay the bills. When a person dies all their contractual obligations end. If there is insurance to pay the car loan, the truck will have to be sold to pay the bills. One other thing did she have enough income to have an income tax filing requirement, state and Federal? File the returns, but if there is no money advise them of the situation. There might be a small refund. You will need to ask her employer for a W-2 so that you can file.
2007-11-04 11:05:45 · answer #1 · answered by Bibs 7 · 0⤊ 0⤋