QUESTION
Can my late husband's creditors take the truck to pay towards his debts owed to them?
Asked on Sep 16th, 2013 on Bankruptcy - Michigan
More details to this question:
My recently deceased husband had credit life on his truck.
3 ANSWERS
Not without a lawsuit they cannot unless the truck was used as security under UCC1.
Answered on Sep 18th, 2013 at 3:33 AM
Debt Collection Attorney serving Chicago, IL
Partner at
Edelman, Combs, Latturner & Goodwin, LLC
2 Awards
The creditor who had issued the credit life policy should be paid by that policy. If the truck was titled to your late husband only and passes into his estate, his creditors can have it sold to pay their debts. If it was held in joint tenancy with you as the joint tenant, it does not pass into his estate and it would be very difficult or impossible for them to reach it.
Answered on Sep 18th, 2013 at 3:14 AM
Appellate Attorney serving Grosse Pointe Farms, MI
at
Musilli Brennan Associates, PLLC
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His estate now owes his debts and its assets are subject to liquidation to pay them.
Answered on Sep 18th, 2013 at 3:12 AM