Type your answer here... debt collection
http://www.creditinfocenter.com/rebuild/debt_validation.shtml
It means you have money. But if you're in DEBT, you owe money.
If you owe money to the IRS for prior years taxes, and you have a refund due to you on this year's taxes, the IRS will keep the refund and apply it towards the debt that you owe.
It is short for the Latin 'debere' - 'to owe'. Debit and debt come from that word.
No the debt passes on the the heirs of the estate.
You father's death does not release you from your obligation. You now owe the money to the estate.
They still owe the money to the estate. The executor may offset their inheritance by that amount.
The debt you owed to the decedent will become a part of their estate and their heirs can collect as long as they have proof that you owe the money. The heirs can request that an estate representative be appointed and that person can pursue payment from you. The debt does not just go away as long as there is evidence that the money was owed to the decedent.
The value of the estate, which includes the debts owed to it as well as the debts the estate owes, is divided up into three parts. The amount those that owe the estate money receive is off-set against the debt. If there are more debts owed by the estate then it is worth, those owing money will have to pay it to the estate.
A debt collector can tell you and is required by the FTC to provide you in writing the name of the person or company you owe the money to, the amount of the debt, and what you can do if you think you do not owe the debt. If you need to know more information about debt's you owe,contact the FTC.
Type your answer here... debt collection
owe money
You can file a claim against their estate in probate court with proof of the debt. If you have proof of the debt and they have assets of value, you must be paid by the estate before any remaining assets can legally be distributed to their heirs. If they have nothing of value, than you have nothing you can claim from them.
who do we owe?????????????
An IOU, as in I owe you, is short for a debt to be paid
No. You are in debt as much as you still owe on the mortgage.