QUESTION
If a car is repossessed for non-payment and then the person dies, is his estate still responsible?
Asked on Oct 19th, 2016 on Estate Planning - Illinois
2 ANSWERS
If an estate is opened the creditor has to file a claim. The death does not absolve the debt..
Answered on Nov 09th, 2016 at 4:13 PM
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A creditor can file a claim against the estate. There is a procedure in probate to deal with such a claim against estate assets. The creditor would have to establish the debt and a deficiency after repossession of the auto.
Answered on Nov 09th, 2016 at 4:13 PM