My Late Father's Credit Cards...

spice1000

No reason for quietness as I have nothing to hide, just been away working... To just explain further, the house was in my fathers name at the time of his death, but in order to sort out other debt of his (bookies, money owed to family, mortgage overdraft) I have already taken out a large mortgage on the property and put it in my own name. Now the estate has nothing left, and the value in the house is money I have invested in it myself. SO where do I now stand re; the outstanding balances?

dmg24

spice1000 wrote: »

No reason for quietness as I have nothing to hide, just been away working... To just explain further, the house was in my fathers name at the time of his death, but in order to sort out other debt of his (bookies, money owed to family, mortgage overdraft) I have already taken out a large mortgage on the property and put it in my own name. Now the estate has nothing left, and the value in the house is money I have invested in it myself. SO where do I now stand re; the outstanding balances?

Despite being asked several times, you have not answered the questions about the property?

spice1000

In what way is ...

"To just explain further, the house was in my fathers name at the time of his death" (previous post)

... not answering the question??

jonesMUFCforever

I think you are in a real mess!
When you were administering the account did you apply for a grant of representation (I think you said there was no will)?
If so you would have had to make 2 lists - one with the assets of the estate (including the value of the house as at date of death) and secondly a list of all estate liabilities which would have included all bills such as the credit cards which are still outstanding.
If you administered the estate you have a legal duty to do it properly and discharge all liabilities included such credit card debts (not the chosen few as its seems you have done).
We have to ask whether you had the right to take out a mortgage to 'buy' the house.
I think you need to take legal advice!

dmg24

spice1000 wrote: »

In what way is ...

"To just explain further, the house was in my fathers name at the time of his death" (previous post)

... not answering the question??

Does that tell us what equity was in the property?

People are trying to help - it might be polite to actually read what they are saying!

molerat

The house was part of the estate. If you paid the estate less than the full market value of the property then I suggest you seek professional legal advice. Foir instance if you have taken a 100k mortgage to pay off your fathers mortgage and some of his other debts and the property is worth say 200k they are going to be coming after you.

NickX

This is too complex to answer on here I think.

Probate is an intricate business, and normally would be done by a qualified solicitor.

There are many factors that could affect whether or not you are liable for this debt, and many of the answers will be buried in your late fathers financial paperwork.

As others have said I think you need to speak to a solicitor.

spice1000

Thanks for everyone's help on this matter, I really do appreciate it. I do have the grant of representation, I will be taking further legal advice, and perhaps attempting to increase my mortgage to sort out the CC's.
Thanks again.

chappers

I would seek some advice re: paying un secured debt from your fathers estate.I suspect however that if there wasn't any cash, your father's estate should have been liquidated and the procedes used to pay off his debts, there would be a hierarchy for re paying the debts with people like HMRC at the top followed by mortgages,banks(not sure how CCs fall into this) and then the rest.
I would write to the CC card companies just explaining that your father has died maybe enclose proof and see what happens, they may just leave it at that, I take it there was no form of life cover in place at the time of his death.

AMILLIONDOLLARS

You make no mention of inheritance tax, surely you would be liable for this as well? if the value of the house is over the limit?

AMD