For adult children, the death of a parent is a fraught experience. Adding to the stress: the unwelcome surprise that Mom or Dad died with big debts. Who is on the hook to pay them? Unless you cosigned one of your parent’s loans or accounts, it’s usually the estate, not you. Usually. Not always. TheContinue reading “Inheritance of Debt”
Tag Archives: Debt
Dealing With Collectors
“The only man who sticks closer to you in adversity than a friend is a creditor.”-Unknown Debt collectors are after one thing—your money. And if you borrowed money, then you are obligated to pay it back. Collectors have the right to call you and ask you to pay back the money you owe. The problemContinue reading “Dealing With Collectors”
Debt
(Proverbs 22:7) the borrower is slave to the lender. Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. There are two types of debt: secured andContinue reading “Debt”
Mentored Money 