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My father and I had a loan, he passed away, the credit life…

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My father and I had...
My father and I had a loan, he passed away, the credit life paid the loan off, and the proceeds from the loan was held by the probate lawyer, after the probate was over, should I have received the proceeds from the loan, since it was in both our names
Submitted: 8 years ago.Category: Legal
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Answered in 30 minutes by:
6/21/2010
Lawyer: C.Fortunato, Attorney replied 8 years ago
C.Fortunato
C.Fortunato, Attorney
Category: Legal
Satisfied Customers: 8,023
Experience: Admitted NYS Bar, member ABA, NYSBA, NYCBA, QCBA, Licensed Real Estate Broker
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Hi JACustomer,
Was this loan money you and your father owed, or money someone owed to you and your father?
What is the credit life?
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Customer reply replied 8 years ago

This was a loan we both had our names on, Credit life is a insurance on the loan, so if my dad or me past away the loan would be paid off

Lawyer: C.Fortunato, Attorney replied 8 years ago
If Credit Life paid off the loan, what "proceeds from the loan" are you referring to?
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Customer reply replied 8 years ago
After the loan was paid off we received a check from the company that insured the loan, it was the money left over after the loan was paid off. On the memo of the 2000, it refered to the proceeds that was left over from paying the loan off. I don't know how there was money left over.
Lawyer: C.Fortunato, Attorney replied 8 years ago
If there was any money left over after paying off the loan, at least part of that money belongs to you (the other part would belong to your father's estate).
If you have not yet received it, you should contact the attorney handling the case and ask for an accounting of that money.
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Customer reply replied 8 years ago
What would be my next step, if the lawyer regets my question
Lawyer: C.Fortunato, Attorney replied 8 years ago
About how much money is involved? How much money should you be getting?
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