Mums old debts

degsey123

hi my mum died over 5 years ago and she had money she owed off a loan and a credit card ,the bank said we can pay it wen house is sold . I haven't heard from the bank in 4 years , am I still liable for mums old loans when house is sold if there not charged to house thank you

pogofish

You may do better by posting this on the Debt Board - This is quite out of the realm of Stoozing!

undaunted

Yes, if she left assets then her estate should be used to meet her debts regardless of whether secured on the house or not.


That said if action isn't taken to recover any monies owed within 6 years of the debt last being acknowledged you may then be able to claim that it has become statute barred.

Ben8282

While the above reply is correct, there is also the question of the failure of the executor(s) of the estate to settle the debts of the estate which may well constitute a criminal offence.
I find it almost impossible to believe that the bank just said 'That's OK. You can pay us when the house is sold.' Has interest been frozen? Have the accounts been defaulted? Why has it taken 5 years for the executor(s) of the estate to sell the house?