When am I allowed to negotiate with creditors during probate and what documents should I get from them once a amount is agreed upon?

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When am I allowed to negotiate with creditors during probate and what documents should I get from them once a amount is agreed upon?

My dad recently died and I don’t have the money for a probate lawyer. He left a lot of debt but his estate should be enough to cover it. At what point during the probate process am I allowed to negotiate with creditors to settle the debt? Also, any general information that could help me with the probate process would be greatly appreciated.

Asked on May 1, 2012 under Estate Planning, Colorado

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I am so sorry for your loss.  This must be a very difficult time dealing with all of this.  What you need to do is to be appointed as the personal representative of the estate of your Dad.  Once you are sure that you have all the creditors then you can indeed negotiate with them.  There are certain requirements for publishing to alert creditors of the death of a person to allow them to make a claim. Here are links that might help.  Good luck.

http://www.cobar.org/index.cfm/ID/20909

http://www.denbar.org/index.cfm/ID/20881


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