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Old 09-28-2005, 02:17 AM
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How can an estate collect on a bad debt?

What is the name of your state? CA
Can heirs of an estate put a lien on a home owned by a person who borrowed money from the deceased, but put up no collateral? This person has paid very little principal on the loan in the last 7 years & has threatend bankruptcy when asked to insure the loan.
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Old 09-28-2005, 02:28 AM
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Quote:
Originally Posted by Karyl
What is the name of your state? CA
Can heirs of an estate put a lien on a home owned by a person who borrowed money from the deceased, but put up no collateral?

**A: it is possible but all the proper steps must be taken ie. litigation, prevailing, obtaining a judgement etc**************....

**********

This person has paid very little principal on the loan in the last 7 years & has threatend bankruptcy when asked to insure the loan.
**A: since the loan is not secured. the filing of BK would extinguish the loan.
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