Help Debts

Posts Tagged ‘family member’

Can a family member put a debt of say like k in a will and make another family member he/she hates pay the debt when he/she dies? Like can a family member force another family member to pay up a k that the dieing family member owes?
And by forcing them, I mean by through a will. Or can it not be done in a will.

I have been discharged from bankruptcy for 2 years. Prior to that I owed money to family member, who is now threatening legal action to recuperate the money owed. (Nice, eh?)

My question is: if they did start legal action, would our Bankruptcy have covered this debt? I know that we weren’t allowed to pay family back during our bankruptcy because this would be preference, so I would assume that family members are seen the same as other creditors, but I’m not sure.

Thanks!

I am in my mid-twenties, and I am attending an expensive university in Southern California to get my Master’s degree in Clinical Psychology.

By the way, please excuse me if I use financial terms incorrectly…I’m really unfamiliar with financial terminology.

I am originally from Canada and am a home-owner in Calgary, Alberta – my parents sold their large house when I was 20 and bought another house for themselves and build a smaller house under my name. I am technically a property owner. They did this so that I could get a substantial loan for university.

My property assessment in 2008 was 6,000 (Canadian funds).

I received a loan of 0,000 (Canadian funds) in October of 2008.

I recently spend a large amount of money (,500 US) to put a family member through alcohol treatment. I realize that is really expensive, but I tell you, it was worth it to see this person sober. However, that was basically 1/3 of my loan.

My schooling is costing around ,000 US for the 2 year Master’s Degree. With rent, utilities, living expenses, plus everything I needed to buy when I moved down here from Canada (furniture, etc), I am running out of money really quickly. I’m working on getting an ,000 (Canadian funds) line-of-credit from a Canadian bank with my parents’ help.

After the economy improves, I would like to sell my house in Calgary (say, within the next 5-7 years) so that I can begin my life debt-free. My parents want me to keep the house so that I can have some sort of collateral/assets (?) in the future. I am arguing that the house is not really "worth" anything because I have loans that are 0,000 + interest. I really don’t want to spend the rest of my life paying off student loans if I don’t have to.

Any advice??

Thank you so much in advance.

~K
The first poster is right, it’s not a student loan. I was mistaken when I said that at the end.

Also, I am renting the property in Calgary for 00 (Canadian), which is around 00 US.

I don’t really anticipate moving back to Calgary. I love Canada and miss it a lot, but I can’t take the winters…lol. It does get warm in Canada, but not as warm as So-Cal!
Also, because I’m here on a student visa, I can’t legally work in the States until I’m finished school, except for working on campus (and I can only work 19.5 hours/week.). I checked and there aren’t any jobs available right now.

To be a Marriage and Family Therapist in California, I need 3000 hours of clinical work experience (which I will most likely be doing for free), so even though I could potentially work on campus, I would like to focus my time on getting my 3000 hours.

Ours is the only listed phone number with our family name. Our extended family members have delinquent accounts and because of this, we receive numerous calls from their debt collectors. They leave mean messages assuming that they have reached their customer. It is so annoying and once they get a message, they continue to call back. We’ve tried to call the agency and tell them to remove us but it’s very difficult when they call from phone banks and such. We also relay the information to our family member in the hopes that they take care of the account.

I got this email:
PSALM 2008-2012

FIRST BOOK OF DEMOCRAT

OBAMA IS MY SHEPHERD,

I SHALL NOT WANT.

HE LEADETH ME BESIDE STILL FACTORIES.

HE RESTORETH MY FAITH IN THE REPUBLICAN PARTY.

HE GUIDETH ME IN THE PATH OF UNEMPLOYMENT.

YEA, THOUGH I WALK THROUGH THE VALLEY OF THE BREAD LINE,

I SHALL NOT GO HUNGRY.

OBAMA HAS ANOINTED MY INCOME WITH TAXES,

MY EXPENSES RUNNETH OVER MY INCOME,

SURELY, POVERTY AND HARD LIVING WILL FOLLOW ME ALL THE DAYS OF MY LIFE.

THE DEMOCRATS AND I WILL LIVE FOREVER

IN A RENTED HOME.

BUT I AM GLAD I AM AN AMERICAN,

I AM GLAD THAT I AM FREE.

BUT I WISH I WAS A DOG

AND OBAMA WAS A TREE.

Ok, so I got that email and I need a way to respond. I believe that Obama will have been given such a damaged country, that that is totally unfair. Regardless of party affiliation, we should all be Americans now first. I need a way to respond to this person respectfully. I might like to send back something that combats this by saying just that. That he is being given a country 11 trillion dollars in debt and if times are rough, its not because he he had the final word. Any advice on how to handle this is appreciated. It’s too a family member and I want to make sure it’s respectful, but to the point. Thanks so much.

My husband has a family member that is always asking what I consider to be extremely personal questions about our finances, such as how much we paid for our house, our amount of debt, our interest rates, etc., and then criticizing everything we have and do. How would you handle this from now on? It’s starting to get really old.

I co-own a home with a family member. It is owned free and clear, no debt is on it. We are considering consolidating all of our outstanding debt and doing home improvements on the property. What is the best option from a mortgage lender? Variable? Fixed? I have an appointment with a lender coming up soon and would like to be prepared. I have done some research but would like advice from someone in the field. Thank you very much.