Wednesday, November 10, 2010

Parent debt liability

Many people has misconception that they are need to pay the outstanding debt of there parent when they dies?

Actually these are not true; collection agency has only right on the parent’s property.

You can able to get the right of your ancestral property after paying the outstanding debt.

Suppose anyone’s parent died after leaving nothing than there is no need to pay the outstanding debt of there parent.

On the other hand if your parents leave a $500000 property and they had outstanding debt of $50000 than you can get right on property only after paying $ 50000.

If the collection agency always make call to pay the outstanding bill of your paren than you can send them a certified letter for stop harassing you if they continue do the same thing then you can make complain with state attorney general .

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