Legal Question in Credit and Debt Law in Texas
Death in the family, Wondering about outstanding debts in the deceased name
My father recently passed away, leaving multiple debts that were being paid by him. He was retired military, receiving military retirement as well as social security. He left behind a wife, who has always been a 'house-wife' and dependent on his income as well as HER social security benefits. Now that he has passed, her benefits will be greatly reduced, and he has left behind several different 'types' of debts. What I mean by 'types' of debts are : he was the main signer on a car note, with his wife as a co-signer; he was the ONLY signer on a debt/note; and finally he was the main signer on several credit cards that he also allowed his children to be 'authorized users' on the credit cards. Our question is this: Which of those debts, if any, are now void due to his death, and which debts, if any, would still have to be paid. Again, he left behind co-signers, and authorized users. Lastly, he purchased a car for me and had the note put into HIS name. I am not on the note at all. Only he is on it. Do I now have to pay for the car? Or is that debt disolved? We really appreciate any help you can give us, as we cannot afford an attorney visit due to his un-timely death, and the cost of the funeral.
I cannot thank you enough for this -LH
1 Answer from Attorneys
Re: Death in the family, Wondering about outstanding debts in the deceased name
I am sorry to have to tell you that none of those debts become void due to your father's death. His estate becomes responsible for those that aren't guaranteed by a co-signer.
If you don't keep that note paid current, or have it transferred into your name and kept current, the car will be repossessed and the unpaid balance will be a debt of your father's estate as well.
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