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The creditors in the Estate

A creditor is a person who, has a claim that he wants to collect against the deceased.  Before proceeding to a collection process, it is necessary to be sure that the creditor has presented his claim before the probate or estate process as an interested third party.

The debt will be considered as part of the liabilities that the estate asset must cancel BEFORE being able to be distributed among the heirs.  The executor must consider among the credits to be paid, the sums that have been demonstrated either within the process or in a collection process that has been “attracted” by the universal process.

A privileged creditor (with a mortgage or chattel mortgage) must serve the estate of its collection process, but due to the nature of this privileged position, he will not be delayed by the evolution of the estate process.

If you have questions do not hesitate to send them to ablanco@arturoblancolaw.com

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