Friday, October 9, 2009

Can you inherit debt?

If a family member dies and leaves unpaid debt, who is responsible for paying it?  The Federal Trade Commission is trying to help people understand their responsibilities.  The FTC has issued an alert stating that family members are not responsible for the debt, unless you are the spouse, and even the spouse's responsibility may be limited.  The person's estate is responsible for paying the debt.  Therefore, before any money is distributed to family members, generally, all debts must be paid.

For more information, you can read this article 
http://www.againstbillcollectors.com/media/CantInheritDebt-StPeteTimes081509.pdf

If a debt collector is harassing you about the debt, you can contact our firm for assistance.  Contact us.