My father died and the bank wants my mom to pay.

This is a good question..

My father died last year. He had a truck he owed a lot of money on. His name was solely on the loan. There was no savings, no life insurance...nothing. I called the loan company and had them pick up the truck. Now, a year later, my mom is getting a letter from a collection agency that $7,000+ is owed on that debt. She cannot pay this debt and it was my dad's sole responsiblity. Can they come after her for the loan?

What happens in this case? If the father doesn't have life insurance, does the mother have to pay for the loan if it's in the father's name only?

These are the questions that you ask when a loved one dies. You tend not to think about these life insurance type questions until that day comes. It's not really natural for you to do so.

I'm glad I found this video.. I think it's a good question and a valuable answer.

Articles from April 2009
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