Frequently Asked Questions On Who Is Responsible For A Decedent’s Debt - Part 2

 

When a relative dies, the last thing grieving family members need are calls from lenders and debt collectors. There are many federal and state laws prohibiting abusive, unfair, or deceptive debt collection practices. These laws protect borrowers while alive and relatives after a loved one dies. This article provides answers to some frequently asked questions regarding handling a deceased person's debts.

 

This 4 part series of articles will provides answers to some frequently asked questions regarding handling a deceased person's debts including:

 

• Who Is Responsible for Paying a Decedent's Debt?
• Exceptions
• Student Loan Debt
• Speaking With Debt Collectors
• What to do if a Debt Collector Calls
• How to stop Debt Collectors from calling
• Can Debt Collectors share information about a Decedent’s Debt to Others?
• Filing a Complaint

 

Part 1 addressed Who Is Responsible for Paying a Decedent's Debt and Exceptions. Part 2 addresses Student Loan Debt and Speaking With Debt Collectors. Part 3 will address What to do if a Debt Collector Calls and How to stop Debt Collectors from calling. Part 4 will address Can Debt Collectors share information about a Decedent’s Debt to Others and Filing a Complaint.

 

Student Loan Debt

 

Federal student loans are completely discharged if the borrower dies. The loan is discharged once a family member or the personal representative of the deceased person's estate submits proof of death to the loan servicer. This is normally done by submitting a death certificate. This does not apply to private student loans. Determining the status of private student loans when the borrower dies requires a close look at the associated loan documents.

 

Speaking With Debt Collectors

 

You do not have to speak with debt collectors — even if the debt is yours. However, this does not stop collectors from using other legal means of securing unpaid debt. For example, a debt collection company may file a lawsuit against a deceased person's estate. It is illegal for a debt collector to use abusive, unfair, or deceptive practices when collecting a debt. Many of these prohibitions are outlined in the federal Fair Debt Collection Practices Act (FDCPA). Among other things, debt collectors may not contact you at unusual hours (generally defined as before 8 a.m. or after 9 p.m.). They also cannot harass you by making repetitive calls.

 

Call your Amarillo Estate Planning Attorney Today and Get Help Handling a Deceased Relative’s Debt

 

Losing a loved one and handling their estate is already a difficult life experience. Handling a deceased relative's debt only adds to this burden. Fortunately, chances are you are not responsible for your deceased relative's debts. The best way to find out what your obligations really are is to simply contact a local Amarillo Texas probate attorney. If you are planning your estate or updating your will, the best thing to do is consult with a local Amarillo Texas estate planning attorney to make sure you are following the laws and regulations of your respective state. Many people have similar questions and go through the same line of questioning when deciding how to make or update their estate plan. It can be and often is critical that you get legal help understanding the basics of this process. The best way to get this understanding is to contact an experienced Amarillo Estate Planning attorney near you. Stop and take a breath and call an Amarillo Estate Planning Attorney who has had decades of experience.  Pick up the phone and call Amarillo Estate Planning Attorney Bill Cornett.  Bill is your choice as an experienced estate attorney in Amarillo and the Texas Panhandle.  Don’t waste another minute.  Call him today.

 

Your most important action may end up being the phone call that you make to your Amarillo estate planning attorney lawyer.  In the Texas Panhandle that call should be to Amarillo attorney Bill Cornett.  Whether you need assistance with a will, administration of an estate or a contested probate, contact the Law Office of Bill Cornett. Be smart…remember these phone numbers (806) 374-9498 or (800) 658-6618.

 

Put Cornett Law Firm’s 50+ years of experience to work for you

 

Bill Cornett, Amarillo Attorney, with Cornett Law Firm, offers affordable, qualified services as an experienced personal injury lawyer and probate attorney. Bill also has experience in estate planning and agriculture law. Sit down with Bill at his office located at 612 S. Van Buren St. in Amarillo TX by calling (806) 374-9498 or (800) 658-6618 TODAY to schedule a free consultation.