Dealing with deceased debts.

Rats_3

Hi guys, hope you can guide me in the right direction.

My Brother passed away in December 2003.
He was self employed and left a lot of debt on his business, and a mortgage.
My sister in law was instructed by the solicitors to sell the house to help clear debts. The house has been on the market for nearly 4 years now without selling.

My question is?
Is there a period of time that certain debts get written off? e.g tax,credit cards, etc.

She has offered to continue the mortgage but the solicitor says she has to sell.
Any help much apprciated.


Thanks,

Steve.

A_fiend_for_life

Hi Rats,

Welcome to the board!!

I can't help with your query but someone should be along shortly.

ifonlyitwaseasier

bumping up

beanielou

Anyone help?

havekidsamskint

bump sorry I can't offer more

tell her to keep her head high and hopefully help will be on it's way soon. You too for caring:T

Gilly

kiora

When my hubby died last year all his debts were paid out of his estate, did your brother leave a will or has it gone into probate, if the house has not sold in over 4 years much as th sloicitor telling you SIL to sell seems a pointless exercise, I would sugest writing to all his creditors enclosing a copy of his death certificate and explaining the situation, if they were all i his name and there was no money in the estate they may write them off as a gesture of goodwill, who is the executor of his estate. Hope this helps a little.

CLAPTON

is th house jointly owned

why hasn't it been sold in 4 years

we need a few more facts here

Rats_3

Hi thanks for the replies.

House was unfortunately in my brothers name only.

No interest in the house, I guess its a combination of price and location (near a busy road). Also I think my sister in law hasn't pushed the estate agent while she is living there which is understandable as its the family home they are losing.

All of his accounts were given to the solicitors by my sister in law and they were to decide on who was owed what.

Solicitors seem to be taking ages over this. My sister in law feels awkward talking to me about the trouble they are in... is there anyone I could recommend she speak to that can answer her questions.

Thanks again,

Rats.

dfw844

The only place that springs to mind is the Citizens Advice Bureau (sp?), I'm sure if they can't help directly they can point her in the right direction.

Good luck with it all.

localhero

I'm afraid that the executors have a legal duty to repay any debts of the estate.

Where there are assets available (ie the house), these will have to be utilised to pay the debts, and I don't think the creditors will be that sympathetic to the fact the estate agents have so far failed to sell the house.

If your sister in law really doesn't want to sell the house (and assuming your brother left her the house), then she will need to find a way of repaying the debts herself.