My father took out an unsecured loan before he died. This money was deposited in a joint account with my mother. After he died, as executor, I contacted the company to see if they would offer a settlement. They told me that they do not do settlements and since it was an unsecured loan that they would have to absorb the loss since there was no collateral on the loan.
Now, a debt collector is contacting me daily demanding payment. Am I, or the estate obliged to pay this unsecured loan? If there are no funds available, will they attempt to claim property?
Thank you for your help.
Now, a debt collector is contacting me daily demanding payment. Am I, or the estate obliged to pay this unsecured loan? If there are no funds available, will they attempt to claim property?
Thank you for your help.
