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Question

My brother who was indigent, recently died and I had cosigned for a loan for him (for a bed). Does not his executor have the primary responsibility for repayment of the loan?

Submitted: 436 days and 16 hours ago.
Category: Legal
Value: $15
Status: CLOSED
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Optional Information

Orange County, California

Accepted Answer

The executor should get any assets together to pay the outstanding debts. If there are not sufficient assets available to pay the loan off then you unfortunately as the cosigner will be responsible for the repayment of the loan and it shows as an obligation on your credit report already so you do not want to impair your credit. Check with the executor first to see what is available. You should have the superior right to sell the bed and get the proceeds from it to pay off the loan.

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Expert: skelly151
Pos. Feedback: 98.4 %
Accepts: 
Answered: 9/10/2008

Lawyer

Litigation specialist, Probate and Estate law, Collection law, contract disputes, builder issues

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