Banks, Collectors, and CRAs Discuss the elimationa of secured and unsecured "debt", as well as tactics for dealing with debt collectors and credit reporting agencies.


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  #1  
Old 10-26-2006, 02:51 PM
texzap texzap is offline
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I am being sued by a local funeral home for payment for my grandmother's funeral. I made the arrangements and signed the papers.

There was no cash in her estate, but she had a home that I have been fixing up and have just put it on the market to sell to pay off her debts.

There is a hearing scheduled for the funeral home debt at the end of November. If my grandmother's house does not sell by then, what may happen? What can I do? Am I personally responsible for her debt?
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Old 10-26-2006, 03:50 PM
masterduke masterduke is offline
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They may try to place a lein on the property or go after any assests she may have had; Bank accounts, etc. Seems like some sort of assest protection program may help you. And if you are the executor of her estate maybe consulting a consumer advocate attorney or an attorney who does wills, estates, probate would be a place to start.
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Old 11-06-2006, 02:50 PM
texzap texzap is offline
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If they place a lien her home before I get it sold, can I not sell it until I pay off the lien?

Do I have any protection? Are there any remedies?

Please help!
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Old 11-06-2006, 03:49 PM
Libertarian Libertarian is offline
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Quote:
Originally Posted by texzap
I made the arrangements and signed the papers.

****

Am I personally responsible for her debt?

When you "signed the papers," what did they say? Did you sign individually, or only on behalf of her estate?
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Old 11-06-2006, 06:47 PM
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charlesa6 charlesa6 is offline
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[quote=texzap]
Quote:
If they place a lien her home before I get it sold, can I not sell it until I pay off the lien?
Sure, you can sell it with guarantee from closing agent, and your attorney after the title seach for encumbraces etc., and the check added to closing pay out debts.

Quote:
Do I have any protection?
If you plan to sell it, why border with protection.

Quote:
Are there any remedies?
Yes. If you are plan not to sell.
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Old 11-06-2006, 06:53 PM
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Judge Roy Bean Judge Roy Bean is offline
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Quote:
Originally Posted by texzap
I am being sued by a local funeral home for payment for my grandmother's funeral. I made the arrangements and signed the papers.

There was no cash in her estate, but she had a home that I have been fixing up and have just put it on the market to sell to pay off her debts.

There is a hearing scheduled for the funeral home debt at the end of November. If my grandmother's house does not sell by then, what may happen? What can I do? Am I personally responsible for her debt?

Don't consider this legal advice, but this sounds like something you should be able to negotiate without a court being involved, but it depends on a number of legal factors, including other heirs, how the estate was probated (if it was), and of course, the state you're in.
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Old 11-08-2006, 06:12 AM
texzap texzap is offline
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Charles, what remedies are there if I do not sell?

Judge, what can I negotiate?

I live in Texas. Her will was probated and I am the executor of her estate.

Everything was left to me, except for $5K each to my two daughters and $5K to my grandmother's niece.

The estate consists of her townhouse ($110K), a half section of ranchland that I want to keep ($50K), and some lots in the small town in Texas I live in ($20K).

All viewpoints are appreciated!

Last edited by texzap : 11-08-2006 at 11:21 AM.
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Old 11-08-2006, 06:26 AM
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charlesa6 charlesa6 is offline
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[quote=texzap]
Quote:
Charles, what remedies are there if I do not sell?
There are a lot of remedies, you can file UCC to place the lien on the property in your name or asset protection, however asset protection, can't protect the property in litigation at the time of set it up.
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Old 11-08-2006, 11:25 AM
texzap texzap is offline
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Quote:
Originally Posted by charlesa6
There are a lot of remedies, you can file UCC to place the lien on the property in your name or asset protection, however asset protection, can't protect the property in litigation at the time of set it up.

I don't understand what you're saying.

Can you clarify, or send me to a post that explains what you're talking about?

Last edited by texzap : 11-08-2006 at 11:28 AM.
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Old 11-08-2006, 02:04 PM
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Judge Roy Bean Judge Roy Bean is offline
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Quote:
Originally Posted by texzap
Charles, what remedies are there if I do not sell?

Judge, what can I negotiate?

I live in Texas. Her will was probated and I am the executor of her estate.

Everything was left to me, except for $5K each to my two daughters and $5K to my grandmother's niece.

The estate consists of her townhouse ($110K), a half section of ranchland that I want to keep ($50K), and some lots in the small town in Texas I live in ($20K).

All viewpoints are appreciated!
Apparently there are other debtors who are willing to wait. Why wouldn't they wait until you sell the house or one or more of the lots? Can't a reasonable time-line for payment be negotiated based on those sales? Depending on the amounts involved, you could even get a short-term secured loan against the land just to avoid having the additional costs of a suit.
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Last edited by Judge Roy Bean : 11-08-2006 at 02:07 PM.
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