Legal Question in Business Law in New Hampshire
Promissory note/family ?
Is there a statute of limitations on
a promissory note in default?
Are my family members responsibe for my debts when I die? I have credit card debts in my name only.
1 Answer from Attorneys
Re: Promissory note/family ?
I hate to say this, but it depends. Is the note part of a real estate transaction? If so, the debt may live longer than the general statute of limitations. What is the nature of the default? Was there a deman for payment and then a default? How long ago? As to "debts," a spouse may, in some circumstances be held accountable for your debts. In some cases a parent may be held accountable for a child's debt. However, in most cases, family members are not responsible for paying your bills. These issues are all fact driven and there is a need for more detail. It would be worthwhile for you to meet with an attorney to review all of your personal situation.