Father's debts, how to deal with them ?

Brit27

I'm going to take the advice given here and discuss it further with my siblings, I will certainly hold off on paying anymore of Dad's bills from the joint account.

konark

Yorkshireman99 wrote: »

Bad advice because in the case of an insolvent estate the creditors can, and indeed do, claim 50% of the value. It is an offence to conceal such an account. .

Even if the creditors do claim half the OP will still be up £7,500.

It may be an offence to conceal the account but the OP doesn't need to tell them it exists unless they ask.

A few hundred pounds spent now could well save the OP a lot more. To effectively suggest that someone should just rely on advice from online sources is very unwise

Given the complications of the case a few hundred pounds is optimistic- more like a few thousand, and as soon as you mention the estate is insolvent they;ll want to be paid upfront, and the advice they will give you is this; Don't attempt to administer an insolvent estate.

Brit27

Thanks for that advice Konark.
It will be painful to lose the yacht, she is an old 70's vessel but has so much sentimental value to the family and I , it was Dad's wish that we kept her in use, which is why he passed her onto me before he became poorly.

Yorkshireman99

konark wrote: »

Even if the creditors do claim half the OP will still be up £7,500.

It may be an offence to conceal the account but the OP doesn't need to tell them it exists unless they ask.




Given the complications of the case a few hundred pounds is optimistic- more like a few thousand, and as soon as you mention the estate is insolvent they;ll want to be paid upfront, and the advice they will give you is this; Don't attempt to administer an insolvent estate.

Initial advice would certainly not cost more than a few hundred. To suggest that the OP would have to spend more is scaremongering. The point is that the situation is emphatically not one where a prudent person can rely on free advice. Konark is correct about not administering the estate.

Yorkshireman99

Brit27 wrote: »

Thanks for that advice Konark.
It will be painful to lose the yacht, she is an old 70's vessel but has so much sentimental value to the family and I , it was Dad's wish that we kept her in use, which is why he passed her onto me before he became poorly.

Posted in error. Please ignore

Brit27

Since I last posted I have had two replies from creditors (credit card companies) stating that they will not contact me over the matter again.

Another company (Moorcroft debt recovery) which are covering a £17k debt, sent back the copy of the death certificate that I had sent for registration purposes, with a sympathy note but have not contacted me since.
A further creditor , probate specialists Phillips & Cohen (£18k debt) have contacted me asking for details of the estate, their letter asked me to call asap, which I did but nobody was available to talk, so they said they would call back, but they haven't .

I have typed out a list of assets and debts, should I send this off to both Moorcroft and Phillips and Cohen.
The Marina have called, I informed them that the estate has not yet been finalised and that the estate appears insolvent.
A further credit card company, Tescos have written saying that the debt (£4k) owed to them will be passed over to their probate specialists Phillips & Cohen.


I haven't as yet sought any legal advice.

Alice_Walker

Brit27 wrote: »

Since I last posted I have had two replies from creditors (credit card companies) stating that they will not contact me over the matter again.

Another company (Moorcroft debt recovery) which are covering a £17k debt, sent back the copy of the death certificate that I had sent for registration purposes, with a sympathy note but have not contacted me since.
A further creditor , probate specialists Phillips & Cohen (£18k debt) have contacted me asking for details of the estate, their letter asked me to call asap, which I did but nobody was available to talk, so they said they would call back, but they haven't .

I have typed out a list of assets and debts, should I send this off to both Moorcroft and Phillips and Cohen.
The Marina have called, I informed them that the estate has not yet been finalised and that the estate appears insolvent.
A further credit card company, Tescos have written saying that the debt (£4k) owed to them will be passed over to their probate specialists Phillips & Cohen.


I haven't as yet sought any legal advice.

You need to seek legal advice. As the executor of the estate you will become personally liable if you fail to declare assets (including potential assets, like those he coincidentally signed over) and/ or distribute the estate before settling debts. Please don't do anything more without getting proper advice, not that of randoms on an internet forum.

Yorkshireman99

Brit27 wrote: »

Since I last posted I have had two replies from creditors (credit card companies) stating that they will not contact me over the matter again.

Another company (Moorcroft debt recovery) which are covering a £17k debt, sent back the copy of the death certificate that I had sent for registration purposes, with a sympathy note but have not contacted me since.
A further creditor , probate specialists Phillips & Cohen (£18k debt) have contacted me asking for details of the estate, their letter asked me to call asap, which I did but nobody was available to talk, so they said they would call back, but they haven't .

I have typed out a list of assets and debts, should I send this off to both Moorcroft and Phillips and Cohen.
The Marina have called, I informed them that the estate has not yet been finalised and that the estate appears insolvent.
A further credit card company, Tescos have written saying that the debt (£4k) owed to them will be passed over to their probate specialists Phillips & Cohen.


I haven't as yet sought any legal advice.

I don't know how much more strongly I can emphasise how important it is for you get paid for legal advice without further delay. Don't send anything to the debt collectors at this stage.

Brit27

Okay thank you both.

FreeBear

Brit27 wrote: »

A further creditor , probate specialists Phillips & Cohen (£18k debt) have contacted me asking for details of the estate, their letter asked me to call asap, which I did but nobody was available to talk, so they said they would call back, but they haven't .

To add to the advice already given, I would also say - Do NOT speak to any DCA, especially P&C (who must be the lowest of the lows) over the phone. ALWAYS insist on all communication in writing (assuming that they can write).