Deceased Father's Debt

by Sil
(Chicago, Illinois USA)

My Father passed away quite suddenly and left behind quite a bit of credit card debt and a Equity mortgage. I sent a copy of his Death certificate to all his creditors and told them that he left no assets behind. I did not go thru probate because his estate is pretty much insolvent. I paid off his medical bills that weren't covered by his insurance. The only other bill I have been paying is the mortgage because my name is on the quitclaim deed. My question is (finally!) can the house still be taken away even though I'm making payments on it but I'm not paying the credit cards? Only HIS name was on those cards. Must I contact the lender and refinance? I've sent out Cease & Desist certified letters to the creditors though some still call. I just want to make sure I still have a roof over my head!

Comments for Deceased Father's Debt

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Nov 03, 2011
by: Anonymous

Another reason to consult an attorney is your comment that you've sent cease and desist letters, but are still receiving calls. If these calls are from collectors and not original creditors, they are breaking the law. You also may want to find out what state law says.

Aug 09, 2011
Deceased Father's Debt

Sil: Yes the house is considered an asset despite the fact that your father took out a large home equity loan against it and owed a lot of money on that loan at the time of his death. Given that you are living in the home and do not want to lose it, I strongly advise you to seek the advise of an attorney about what to do. I am not an attorney and cannot give you legal advice and it's important that you clearly understand your rights and obligations in your situation.

Jun 29, 2011
Deceased Father's Debt
by: Sil

While he did leave a home behind, he took out quite a BIG equity loan on it, almost the entire worth of the house. My name is not on the Title of the home but it is on the Quitclaim deed. With such a big loan on the house, would it even be considered an asset???

Jun 22, 2011
Deceased Father's Debt

Sorry for the loss of your father. However, you need to know that you were not responsible for paying his medical bills. They were your father's, not your debts. Also, you are not responsible for paying his credit card debts. Your father's creditors are entitled to be paid from the assets in your father's estate and if there are no assets to draw on then they do not receive any money.

I am unclear about the situation with his home based on what you indicated in your question, and given that he left a home behind, I think his estate should be probated. However, I am not an attorney and so I recommend that you meet right away with a probate attorney. You need an attorney's advice to avoid doing anything that will complicate your life. I suggest you schedule this appointment right away.

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