Creditor Claims

Dealing with the debts of a deceased individual is a complex and sensitive issue that creditors often face. Understanding the intricacies of this process is crucial, especially when an estate lacks sufficient assets to cover all its debts. When an individual dies,...

Those seeking to collect money from an individual may feel concerned about their finances when a debtor dies. After all, someone who has died can no longer earn income to pay what they owe to others. Despite someone's death effectively transferring their assets to...

Inheriting a parent’s home can be a mixed blessing. Even if they paid off the mortgage and owned it “free and clear,” it can take a good deal of time and money to get it into shape to sell, use it as a rental property or move in. Additional complications may present...

When someone dies, numerous parties will feel the effect of their passing. Those with direct personal relationships obviously experience the most profound impact, but those with a professional or financial relationship with the deceased party could also worry about...

Knowing that someone owes you money, you send them letters and call them to keep them informed. You take steps to make sure that they realize they owe you that debt, and you do your best to collect it. What about if they pass away, though? Now, you’re going to need to...

Some people die in the same way that they lived. They have more debt to repay than assets to cover those costs. If there are co-signers for any of those debts, creditors can continue to pursue repayment from the co-signers. Otherwise, an estate claim is necessary to...

If someone you know passed away while owing you money, you may be able to collect on that debt by making a claim against their estate. While many individuals won’t do this because what they’re owed is minimal, you have a right to do so. You lent money or assets, so...

After someone in California dies, it is very common for them to leave behind significant credit card debt. Then the credit card company must decide whether to pursue a claim on the debt. Because California is a community property state, if the deceased is survived by...

There's a common misconception that a person's death eliminates their need to repay their debts. This isn't the case, though. A person’s death does not do away with creditor claims for business or personal debts.  Creditors must act quickly to avoid losing out on the...

The majority of Americans are taking their debt to the grave. As debt increases, so do the problems creditors face in probate and trust litigation. Many Californians think of enjoying their golden years with no  more mortgage, student and car loans or credit-card...