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Credit Card Debt, Insolvent estate.

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mooseboyd

Junior Member
What is the name of your state? Missouri

I was the POA of my grandmother-in-law, I received a phone call today from a credit card company stating that she owed $30,000 plus to them. Her will was filed but no probate was opened due to the fact she had no house, no car no assets.
Anyway, I was told that because of the amount owed an investigation would happened.
Mo one knows where this $30,000 came from but it all happened before her death, so she very well could have used checks on the card, being her POA could I be liable for this money and/or could the executor of her will be liable for this money.

Thank-You for your time on this question.
 


divgradcurl

Senior Member
mooseboyd said:
What is the name of your state? Missouri

I was the POA of my grandmother-in-law, I received a phone call today from a credit card company stating that she owed $30,000 plus to them. Her will was filed but no probate was opened due to the fact she had no house, no car no assets.
Anyway, I was told that because of the amount owed an investigation would happened.
Mo one knows where this $30,000 came from but it all happened before her death, so she very well could have used checks on the card, being her POA could I be liable for this money and/or could the executor of her will be liable for this money.

Thank-You for your time on this question.
Only the estate is liable for the debt -- neither the POA or executor is personally liable for the debt. However, if an investigation finds that grandmother-in-law maxed out her cards knowing she was going to die and used the money to buy gifts for people, it is possible that those gifts could be repoed to help cover the debt. It all depends on the timing of everything.
 

mooseboyd

Junior Member
more on POA

Missouri.

As far as I know no gifts were purchased. I am not sure if the debt is valid (ie identity theft etc) but if it is and she purchased no gifts and got cash check advances, etc, then there would be no gifts to get repoed. What else could they try to do?

Thank-You
 

JETX

Senior Member
mooseboyd said:
What else could they try to do?
They could file a lawsuit against her estate and force an examination of ALL of her assets (if any). Most people have at least SOME assets on their death.
 

mooseboyd

Junior Member
still more.

She had no assets. None. No house, no car no stocks no bonds no retirement except Social Security. She owned no furniture, no jewelry. nothing that I can think of.

They could file a lawsuit and probably will, I would like to encourage them not to file a lawsuit if that is the way they wish to go. I am still just looking to see what all of their options could be so I have a better understanding.

Thank-You.
 

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