[WSBAPT] Off-topic credit score issues during probate

[Suzanne Lieberman]

Good morning,

Does anyone have a resource or concise set of guidelines for potential
impacts to a PR's credit score once in charge of an estate? I.e. can a PR's
credit score only be affected by late home loan or car payments (and not
other types of creditor claims such as credit card bills or medical)? If
the PR does not assume the mortgage/loan, can their scores still be
affected, or only if they assume the loan and don't pay on time? I think
there is a forbearance in place for the mortgage because of Covid for the
client I am thinking of, so no credit impacts, but client wants to be 100%
sure. Assuming there was a deficiency judgment or the forbearance period
was over, would the debt then simply be handled as part of the creditor
claims process, i.e. they would need to submit their claims with the Court
like any other creditor?

If a PR surrenders a car and the lender goes after a deficiency judgment,
can their score be affected? Any way around this?

Thanks for any insight!

Sincerely,

Suzanne Lieberman
CMS Law Firm LLC <http://cmslawfirm.com/>
*811 Kirkland Ave. Suite 201 *(please note new address!)
Kirkland, WA 98033
206-383-6484 (Cell Phone)
206-659-1512 (Main Office)


Legal stuff I have to put in... *To ensure compliance with Treasury
Department and IRS regulations, we inform you that, unless expressly
indicated otherwise, any federal tax advice contained in this communication
(including any attachments) is not intended or written by CMS Law Firm LLC
to be used, and cannot be used by the taxpayer, for the purpose of: (i)
avoiding penalties that may be imposed on the taxpayer under the Internal
Revenue Code; or (ii) promoting, marketing, or recommending to another
party any transaction or matter addressed herein (or any attachments).*
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