They offered 85 percent on the balance owed to my Mom's card the estate must pay. Is this cool or too high? The settlement offer was made on the telephone. I don't have anything written in hand. The offer is good for 30 days.
Are you the administrator or executor? Do you have to have court approval? Are there funds to pay everyone else, or is everyone going to only get a percentage? Is there anyone else to "come after" if the estate doesn't pay it?
I am one of the executors. I am paying the bill out of my own pocket. The charges on the card are mostly mine so I am taking responsibility. The estate is not involved. This is a settlement. I would not know if court approval is needed.
When a person passes, their debts are paid by the estate. If there isn't enough to pay all debts then the debts go unpaid. If you are choosing to pay I applaude your honesty and sense of responsibility. If it is money you don't have I would rethink your decision.
It is money I don't have. As I posted here before, I did balance transfers from my credit cards to my Mother's card on her approval. I did the transfers the day my Mother died, which I did not know of. Complicating matters, I found out 3 days after the transfers that I did not own half my Mother's home that was in her will and her estate (except for inexpensive furniture and an old car). The home had been put in a joint tenancy between my brother, his wife, and my Mother. I don't know for sure if my Mother intentionally cut me out of her will. I believe my brother cooked up this sweet deal for himself. Since it is 4 years old since the joint tenancy deal, an attorney told me to forget challenging it in court. So I look pretty stupid. I did a balance transfer to Sears mastercard with the understanding I was to pay back my Mother with my share of what I thought was willed to me, my brother finds out 2 days later about the transfer and threatens to take a baseball bat to my head and threatens me with jail time. I am not the hero you make me out to be. I am just trying to follow the advice of my attorney who told me to pay it back. Considering the bt a loan and not a gift. Sears told me they cannot charge the estate since the bt was made after my Mother's death. And if I cooperate with Sears, the entire matter will be closed if pay 85 percent of the balance. It's enough to drive me to suicide. ;( But I will make it, somehow.
OK. I am sorry to hear of your difficulties. It may well be best to pay it to prevent legal issues. Anything can be delt with so please make wise decisions. In any event I wish you well and hope for better times for you.
Duuuhhhh.... your brother cut you out of the estate and you're gonna pay a debt that is legally part of the estate? Why not just take of all your clothes and give them to your brother. Let him pay Sears, let him deal with Sears. He got all the assets and you got all the liabilities? Am I missing something here?
Re: Re: Urgent Sears' offer and compromise Yes, she transferred the balances to her mothers cards after she died. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=317594#post317594
Re: Re: Urgent Sears' offer and compromise She's doing the right thing, I am a police officer and this might end up being a criminal matter if she does't play this right. In my opinion I would try and pay sears off and be done with them. If the BT would have been done when she was alive then I could understand this but to do the BT after she is deceased or the day she died would look fishy to me or a judge. The power of attorney to the estate could very likely get criminal fraud and theft by deception charges as well as access device fraud for using the charge account. This could get to be a serious matter. One thing I want to add....I am not passing judgement or trying to state this person is a criminal, I am taking her on her word that she did the right thing and is in a bad sitution right now because of it. What she is doing now is what counts and it seems she is doing the right thing by paying it if you ask me. BTW, I am very sorry to hear about your mother, may God bless you and your family. Tac
Re: Re: Urgent Sears' offer and compromise I had the same issue with sears my Grandmother let me use her sears Goldmaster card and when she passed away, I just continued to make payments. But when we went to probate court they wanted the acct paid in full which at the time I could not afford. So I called sears and they transfered the card from my Grandmothers Name into my name. Now I have a sears card and a positive acct on my credit report. Plus My Credit Sucks. You may want to check into this. If you want more info email me at Gdog Gdog Gdog Gdog Gdog Gdog
