Hummelstown, PA asked in Business Law for Pennsylvania

Q: Am I responsible for a loan my dad got a for business from the previous owner?

My dad got a business loan from the previous owner of said business in 2005. Regular payments have been made to the lender since. My dad recently died and now the lender said the balance was supposed to be paid over 7 years ago and wants the rest of his money from me.

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1 Lawyer Answer
Peter N. Munsing
Peter N. Munsing
  • Wyomissing, PA
  • Licensed in Pennsylvania

A: You are not responsible for the debts of your father. Tell the lender to submit the debt to the estate.

However, if the loan isn't personal but a business loan, if the business is up and running it can be submitted to them.

Jot down each time they call, who you speak to, the date and time, what they say. This may be an unfair debt collection.

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