My question involves estate proceedings in the state of: CA
The mother of a friend of mine died 10 weeks ago.
She left a very tiny estate, of $3,000 in cash and a vehicle with a value of $6,000.
She also left some debts
Remaining debt on the vehicle $3,300
Short term loan A $530
Short term loan B $6,800
Store card A $920
Store card B - unknown, but no more than $1,000
Store card C - $600
Total debt
Secured $3,300
Unsecured $8,850 - $9,850
Total debt $12,350 - $13,550
My friend wants to know how much he can collect, given that her debt exceeds her estate.
What should be done about it? Thank you
The mother of a friend of mine died 10 weeks ago.
She left a very tiny estate, of $3,000 in cash and a vehicle with a value of $6,000.
She also left some debts
Remaining debt on the vehicle $3,300
Short term loan A $530
Short term loan B $6,800
Store card A $920
Store card B - unknown, but no more than $1,000
Store card C - $600
Total debt
Secured $3,300
Unsecured $8,850 - $9,850
Total debt $12,350 - $13,550
My friend wants to know how much he can collect, given that her debt exceeds her estate.
What should be done about it? Thank you
Estate Assets and Debts: Settling Debt for a Very Tiny Estate
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