Admin found credit card debt that's 7 yeas old.

by Brigitte Chabo
(Virginia)

My mother-in-law died in January, 2004. At that time she had no assets and therefore had an insolvent estate. She had a bunch of credit card debt and doctor/hospital bills. Prior to her death I was her POA and I received all mail. About a year and a half after her death I received one of those "class action" lawsuit mailings and was tempted to throw it away. I contacted an attorney and learned that she was in fact entitled to funds and that suit had to be filed by her administrator. I qualified in October 2006 as the administrator of her estate. While we were hoping for a larger settlement worth over $300,000, her claim was finally settled for approximately $137,000. After attorney fees and repayment to Medicare (for a lien they held), the estate received approximately $35,000 in August, 2009. There was a tax issue with IRS which I have now settled.

According to VA, I must pay her debt (after paying all taxes) before any beneficiary can receive funds. I pulled her credit report and all cards have been listed as closed/paid/charged off/repossession/deceased, etc. I'm not sure if the estate is still responsible due to a statue of limitation or since no claim was made.


Comments for Admin found credit card debt that's 7 yeas old.

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May 11, 2010
 Debt owed by estate in probate
by: Mary

Virginia:

Your question is not one that I feel equipped to answer because it relates to the probate laws of Virginia. I suggest therefore that you contact a probate attorney in your state. I certainly do not want to give you the wrong information and I am not an attorney, much less familiar with the probate law in your state.

Sorry I cannot be of more help. Good luck resolving your problem.

Mary

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