Is my mom responsible to pay for a motorcycle her husband bought solely under his name, social security number?

My dad bought a motorcycle in July of 06 and died in a motorcycle accident in September of 06. The bike was fixed as very little damage was done to it at the time of the accident. Since my dad only had it a couple of months she owes more that its worth. She's been paying the monthly payments on it since his death. She wants to call the finance company to come and pick it up, but it afraid it will mark against her credit. Any thoughts/suggestions?Is my mom responsible to pay for a motorcycle her husband bought solely under his name, social security number?
I am sorry for your loss. The motorcycle will not go up in value. even though she will take a loss on the sale it is cheaper to sell it and pay off the balance than keep making payments. Giving the bike to the finance company will not remove her obligation to pay off the loan. She will not only get a bad credit report but she could also be sued in court for the balance of the loan.Is my mom responsible to pay for a motorcycle her husband bought solely under his name, social security number?
If the motorcycle was purchased and financed in his name ONLY, she doesn't owe the company a dime. She's not responsible unless she signed the note as well. They cannot report on her credit bureau unless her name is on the note. But if the husband left behind some assets, the finance company can force the sale of these items to pay the note. But even in this case, they can't report on her credit bureau.





The laws are set up to protect innocent spouses in different situations. For example, a wife whose husband goes behind her back and runs up major gambling debt on credit cards is not financially responsible for paying these debts because she didn't sign up for them. This scenario is different from your situation but it applies nonetheless.
Some of the answers provided are very good; however some states have community property laws, which can dramatically change things. I'd recommend paying an attorney a couple hundred dollars and see what they think/can do.
If she lives in a community property state, and he bought it during the marriage, yes, she'll be held responsible for any balance. If she's NOT in a community property state, his estate is responsible for it - and his estate probably was settled a year or so ago.
normally she wouldent have to pay for it because is is under your dads name only. you should investigae about what insurance will cover and if there was any endowment from your dad. personally, i think that if she didnt sign for it she should pay for it but idk
to be honest not sure in your case my mum not long died and is married the debt that came though was unbelievable but was told all debts in her name is written off just had to get lots of photo copies of death certificate and send then off to ever needed them
Sell it for what she can and get as close to the price as possilbe and pay the difference. That is all you can do and it will go against her creidt.





Sorry to hear about your dad.
If your father left any assets (house, bank account), his estate needs to pay and all debts that will cover.
if they're married, then yes, she should pay for it.

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