Kentucky probate. Creditors have 6 months to file claims. I am administratrix (no will) of x-husband's estate. 4 grown children. The estate is part interest in a real property <20K and a vehicle <1.5K. The children may be willing to pay some debt in an effort to be able to transfer deed/title.
I received 2 claims today from a collection co. Should I deal with them or the original credit card co? Should I offer a settlement amount? Is there a proper form used for this purpose? The 2 total <1.5K. A different creditor has a settlement lein on the property. Should I try to negotiate a settlement to them (<2K)? Others may be filing claims. One child is to get the interest in the property and all the others agree and have signed a statement to that effect. Another gets the vehicle--others agree.
We don't have money for lawyer and debts. I really need some advice about how to handle the creditors/collection co. Should I wait for the 6 months to end? Do they usually negotiate a settlement? What percent should I offer? Should I say "without recourse"? Your help is appreciated. Thank You. lj114
I received 2 claims today from a collection co. Should I deal with them or the original credit card co? Should I offer a settlement amount? Is there a proper form used for this purpose? The 2 total <1.5K. A different creditor has a settlement lein on the property. Should I try to negotiate a settlement to them (<2K)? Others may be filing claims. One child is to get the interest in the property and all the others agree and have signed a statement to that effect. Another gets the vehicle--others agree.
We don't have money for lawyer and debts. I really need some advice about how to handle the creditors/collection co. Should I wait for the 6 months to end? Do they usually negotiate a settlement? What percent should I offer? Should I say "without recourse"? Your help is appreciated. Thank You. lj114
