Legal Question in Wills and Trusts in Massachusetts

Estate, bankruptcy, real estate

Do we have to probate an insolvent estate that has 130k in debt that was charged off 2 years ago has a house with maybe 30k in equity. What are the chances the charged off accounts can attach the equity in the house if it is not enough to satisfy the debts. We don't have to notify them do we, the debt holders?


Asked on 11/15/08, 6:45 pm

1 Answer from Attorneys

Re: Estate, bankruptcy, real estate

You will have to probate the estate in order to transfer the home. "Charged Off" does not mean that a debt is forgivven, it means the debt is sent into collection. You should speak to an attorney abouth the best way to handle the credit card debts.

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Answered on 11/16/08, 10:40 am


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