How do I Prevent Creditors from taking house?
This is a discussion on How do I Prevent Creditors from taking house? within the Debt Collection forum, part of the BANKRUPTCY & DEBT COLLECTIONS category; I am the beneficiary of my fathers will, his house is paid for but he owes $60K in credit card ...
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I am the beneficiary of my fathers will, his house is paid for but he owes $60K in credit card bills. Hes not expected to live more than a couple of years. How can I prevent creditors from taking the house?
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#2 |
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Ask him to deed it over to you now. If he's going to leave it to you anyway, and he knows he's dying, he should just sign it over now to avoid even the possibility of losing the home to creditors. They will put a lien on the property while it's in his name, and he won't be able to sell it or even grant it over to anyone else without paying them off first. So get him to do it now, before creditors start attaching liens to the property.
You may want to check with an attorney in your State, but most of the time homes are not in a bankruptcy process. |
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