Legal Question in Credit and Debt Law in Texas

My step-son had several loans at a local bank which were guaranteed by his grandmother's cd's. The loans were actually in her name but the items purchased were in his name. Upon her death, and for several months before, he had not made any of the payments as verbally agreed upon with his grandmother. His mother is beneficiary of the cd's. He has cut off all contact with his mother and the bank says there is nothing that can be done to force him to be accountable and pay off these loans against the cd's. Is that true? Is there anything that can be done within the legal system to force him to pay off the balance of the loans? His grandmother was so depressed over the way he turned his back on her that we are sure it contributed to her death.


Asked on 4/07/10, 6:07 am

1 Answer from Attorneys
Mark Dunn Mark D. Dunn

It sounds as if what the bank tells you is true.

Grandmother's estate may have a cause of action against the step-son.

Read more
Answered on 4/12/10, 12:35 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Texas