Quote:
Originally Posted by fredr123
It depends. Someone with an estates law background (troutman) would probably be able to give you a better rundown, but I will give you an example of what I was thinking of.
My father-in-law's mother passed away with a buttload of credit card debt. My father-in-law received calls on a weekly basis from Visa and Mastercard demanding he pay the outstanding balance. She died without assets of any real value and there wasn't enough money in the estate to cover all the debts she accumulated in life. He was the only surviving family member with his poop together, so to speak, but he was neither a co-signor nor a guarantor for any of his mother's debts. They were not his legal responsibility and he told them to shove it.
As far as I am aware, I have not been a co-signor or guarantor or was in any way involved with any loan or credit transaction with any of my family members (outside my wife and our mortgage, line of credit, car loan, etc.).
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My father died, and my whenever we got any sort of calls about anything (including debt,) my mom just started asking for a fax number so she could send them a death certificate. The calls stopped quite quickly.