I hope that I have provided excellent service and, if so, would love a 5 star rating. You can elect to keep the car and pay the loan, or give the car back to the finance company.It's as simple as that. He has a car and owes around $11,000 on that vehicle. If not, please let me know how I can further assist you. I traded my old car in for this one, and can not be without a car. If George buys a car and puts it in both he and his husband Bob's name, then the car belongs to both of them. My husband died and the car loan is in his name, will it affect my credit if I let them take it? Parent PLUS loans — often held … My husband passed away in Nevada. I have bad credit, so we didn't put my name on it. The community property states include Alaska (if a special agreement is signed), Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. Secured debts are things like mortgages and car loans. If there is no will, or if a will left the home to someone else, the surviving spouse can petition probate court for ownership. Credit The payments are high, the interest is high, the car has issues, my son is disabled and needs full time care so I can't work, it would be difficult to … I'm afraid they will take my car away, even though I can afford the payments. The car and the loan is in his name only … read more Car rights cosigner dies My husband was the cosigner on the car loan and my son is the main borrower but my husband had always paid the note for his son car for college he is … Property up for grabs by relatives Buying a home from a man who is dying and left no will. Many credit card companies may require a copy of a death certificate. In community property states and depending on that state’s law, the surviving spouse may be required to use community property to pay debts of a deceased spouse. It's worth noting that federal student loans, unlike most forms of debt, are forgiven if the student dies. If your husband passed away with a loan currently unpaid on the vehicle that you have written about solely in his name, his estate would be responsible for paying off the loan first under the laws of all states in this country. No, you are not responsible for any personal loans that were in his name only. If so, the lender or card issuer will still expect you to repay those funds after your spouse dies. If a husband dies and his surviving spouse's name is not on the title, the spouse may still retain ownership if the husband conferred title to the spouse in his will. All bank accounts are joint and each IRA the spouse is the beneficiary. If the car has a lien, you’ll need to pay off the balance before taking any of the steps listed above to sell the car.Once you pay off the car’s loan, the financial institution that issued that loan will provide you with a clear title. If dad co-signs a loan for his son and the son dies, the parent will continue to be responsible on the loan. Send the letter certified mail. Property distribution upon death or separation: When one spouse passes away, their separate property is distributed according to their will, or according to probate (in the absence of a will). If there is no lien, you still need the title, but it doesn’t need to be in your name. Can they do this to me? My husband passed away, and we were financing the car. Include your spouse’s credit card account information in the letter and keep a copy of the letter for your records. The car is in his name. If the account is solely in your spouse’s name, you’ll want to inquire about how to cancel their credit card accounts. If John takes out a credit card in his name alone, and if John is hit by a bus and killed, his wife is left to pay off the credit card debt.
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