What to do about outstanding estate debt that totals about $16,000?
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What to do about outstanding estate debt that totals about $16,000?
It is unsecured debt from credit cards. There has been no activity on any of these accounts for al;most 8 years. Can these debts be barred by the general statute of limitations for debt collection?
Asked on June 3, 2013 under Estate Planning, Texas
Answers:
Timothy Quill / The Quill Law Firm
Answered 10 years ago | Contributor
Assuming the debt was never reduced to a judgment, and that no charges were incurred or payments made on the account for four years or more, the creditor may not sue successfully or successfully pursue a claim in a probate proceeding. If the creditor files a claim in probate, your attorney will communicate with the creditor and so advise them that the claim is barred by the statute of limitations.
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