Others feel a moral obligation to pay off all of their outstanding debts, even if they can no longer be sued for failure to pay.
We want to hear from you and encourage a lively discussion among our users. Free, online debt advice available now. Something that can be controlled and doesn't control me," a listener named Krista said about finally getting help managing her student debt. Over 25 years we've helped thousands of people across the UK deal with their debt problems. A surviving relative is not legally liable for a deceased person's debts unless the account is joint or there is a guarantee agreement. Saeed Jones Talks About Sex.
You can also look into credit card debt relief programs , or use our debt management resources to learn more about debt consolidation loans , debt paydown calculators and more. According to the FTC , debt collectors are not allowed to call you after 9 p. If you receive a call from a debt collector on a debt that you believe is outside the statute of limitations, do not take responsibility for the debt.
Wait until you receive your debt validation notice, then send a verification letter asking the debt collector to prove that the debt is yours and that the statute of limitations on your debt has not expired. How long can a debt collector pursue old debt?
You may also like. What to do when the debt collector calls. Answers to 10 tough debt questions.
Even though it is easy to find, lazy or unscrupulous debt collectors often turn to cold-calling relatives of the deceased to ask whether such person is "handling the deceased's final affairs. The FDCPA requires a debt collector contacting a relative or other person concerning the location of a debtor to:.
The collector is not permitted to state that the person owes any debt. The individual who is contacted can freely choose whether to provide location and contact information for the deceased's personal representative.
When debt collectors are attempting to locate the person with authority to act on behalf of an estate, they must state that they are looking for the person who is responsible for paying the outstanding bills of the deceased "from the estate. Debt collectors may not use leading questions to determine the identity of a personal representative, such as whether the individual paid for the funeral or is opening the deceased's mail.
Finally, debt collectors must refrain from misleading people about their liability for the obligation to pay the deceased's debt. To that end, debt collectors must clearly state that they are seeking payment from assets of the estate and that the individual is not required to use his or her own assets or any assets he or she owned jointly with the deceased which upon death belong solely to the survivor to pay the debt. In the context of collecting against a deceased's estate, debt collectors must not contact any such individuals "at any unusual time or place or at a time or place known or which should be known to be inconvenient.
Consumer debt incurred during life retains its quality as consumer debt after death. With few exceptions, only the deceased's estate is obligated to pay a debt, not spouses, children or other relatives, business associates or friends.
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Debt Collectors Engage in Predatory Practices When a person dies, the first thing debt collectors must do is identify the appropriate person or persons with whom they can discuss the deceased's debt. The FDCPA requires a debt collector contacting a relative or other person concerning the location of a debtor to: i.
Identify himself or herself ii. State that he or she is confirming or correcting location information concerning the debtor iii.
Your estate is everything you owned at the time of your death. The process You have the right to tell a debt collector to stop contacting you by sending a letter. Consumer advocates say there's an accelerating effort within the $11 billion debt collection industry to make profits from debts the financial.