How does filing an insolvency petition affect a pending or threatened foreclosure on estate property? nc

How does filing an insolvency petition affect a pending or threatened foreclosure on estate property? – North Carolina Short Answer In North Carolina, filing an insolvency petition in an estate administration usually does not automatically stop a secured creditor from foreclosing on estate real property. A deed of trust lender generally keeps lien rights and…

What happens if the estate cannot pay a creditor right away because the personal representative is hard to reach? nc

What happens if the estate cannot pay a creditor right away because the personal representative is hard to reach? – North Carolina Short Answer In North Carolina, a creditor generally cannot force immediate payment just because a personal representative is difficult to reach. The creditor’s main job is to file a proper written claim with…

Should I keep paying the deceased person’s credit card bills, or should I wait until probate and the creditor process starts? nc

Should I keep paying the deceased person’s credit card bills, or should I wait until probate and the creditor process starts? – North Carolina Short Answer In North Carolina, credit card debt is usually paid from the estate (not by family members personally), and it is typically safest to wait until an executor is officially…

After the creditor notice period ends, when am I allowed to sell estate property like the house and the car without causing problems in probate? nc

After the creditor notice period ends, when am I allowed to sell estate property like the house and the car without causing problems in probate? – North Carolina Short Answer In North Carolina, the end of the creditor notice period is an important milestone, but it is not the only timing rule that matters for…

What happens if the estate can’t accept a settlement by the creditor’s deadline and needs more time to respond by mail? nc

What happens if the estate can’t accept a settlement by the creditor’s deadline and needs more time to respond by mail? – North Carolina Short Answer In North Carolina, a creditor’s “settlement deadline” in a letter is usually a private negotiation deadline, not a probate deadline. If the estate needs more time, the personal representative…