credit card debt

Yorkshireman99

craigedmonds wrote: »

You have completely misinterpreted what I have said there in the same way I am legally obliged to pay taxes, but if I can find a way to legally NOT pay them or reduce them, then I will do so to the best of my abilities.

So rather than jump the gun and judge me, why not try and add some positive comments to the thread, otherwise keep your views to yourself.

Most of what you have said suggests that you don't really care about the legalities but are intent on defrauding some creditors for the benefit of beneficiaries probably including yourself. That is not judgemental but factual.

getmore4less

It perfectly reasonable(and probably legal) to negotiate with a creditor.

There will be restrictions on negotiated terms like not being able to offer preferential payment over another creditor.

Nick_C

getmore4less wrote: »

It perfectly reasonable(and probably legal) to negotiate with a creditor.

And if you play silly beggars, its perfectly legal for the creditor to instigate legal proceedings to recover their money and ask for costs.

Yorkshireman99

getmore4less wrote: »

It perfectly reasonable(and probably legal) to negotiate with a creditor.

There will be restrictions on negotiated terms like not being able to offer preferential payment over another creditor.

An executor's duty is to administer the estate in a way that is fair and reasonable to all concerned. That includes creditors who are entitled to the full amount due. The only reason the OP can have for trying to deprive a creditor of their lawful claim is to benefit another beneficiary. That is a breach of trust by the executor. Doing so is illegal.

Keep_pedalling

craigedmonds wrote: »

Prove to me that it is. Morally questionable maybe, but if one can provide legitimate cause for out of pocket expenses which outweighs the debts, prove to me that its fraud.

An estate with assets of £1000 and debts of £600 has a net value of £400, claiming highly exaggerated expenses to prevent the debtors receiving what is legally theirs is simply theft.

There are no legal loopholes round this you must simply pay what is owed, or commit a criminal offence.

getmore4less

People negotiate on a regular basis common is asking to freeze accounts and interest.

brianh

Do the credit card company continue to add interest? If so, it would be in beneficiaries interest to finalise details quickly.

Nick_C

getmore4less wrote: »

People negotiate on a regular basis common is asking to freeze accounts and interest.

When they don't have the funds to pay the debt. Doesn't sound like that's the case here. If the estate has sufficient funds to pay the debts, they must be paid. If there are insufficient funds to pay all the debtors you pay off who you can pro rata. Nothing left for the beneficiaries, as there is then no value in the estate.

If OP's mum left £1000 in the bank and £600 debts, the beneficiaries of the estate are entitled to £400, the net value of the estate. Assuming mum pre paid her funeral.

Nick_C

brianh wrote: »

Do the credit card company continue to add interest? If so, it would be in beneficiaries interest to finalise details quickly.

Would be reasonable to ask the CC company to freeze the debt as at the date of death.

getmore4less

Nick_C wrote: »

Would be reasonable to ask the CC company to freeze the debt as at the date of death.

That is a negotiation...


Accruing interest becomes a lower priority debt.