How Long Do Creditors Have to Collect A Debt from an Estate in Florida?
How Long Do Creditors Have to Collect A Debt from an Estate in Florida?
If you’re searching for “how long do creditors have to collect a debt from an estate in Florida?” then you’re most likely already in a situation where you’ll need our help. Contact us now for assistance. Read on to learn more about the creditor collection process and how we can help.
Creditors Who Receive Direct Written Notice: 30 Days
If the creators have received direct written notice, they’ll have 30 days to collect the debt itself.
Creditors Who Receives Notice Via Publication: 3 Months
Creditors who receive notice via any type of publications will have about 3 months to make a claim against the estate.
Creditors Who Did Not Receive Notice: 2 Years
If the creditor did not receive notice and happened upon the information of the deceased, they’ll have about 2 years to make a claim against the estate.
Consequences for Missing the Deadline
Creditors who miss the deadline May be subject to forfeiture of their rights to claim against the estate. It’s very important for the executor of an estate to promptly notify all known creditors to avoid legal complications down the road.
Tips Executors Should Use to Avoid Problematic Outcomes
Below are some great, quick tips an executor can implement to ensure matters are being handled appropriately.
Conduct Due Diligence On the Deceased’s Financial Records
Conducting due diligence on the deceased’s financial records can allow the executor to best gauge where things stand in the estate and who is owed what.
Serve Timely, Written Notices to Creditors
Ensuring there are timely, written notices sent out to creditors can prevent creditors from claiming they never received notices. It’s a good idea to always ask for signature required for physical mail and verification for other delivery confirmation methods to fully document any and all correspondence.
Keep Accurate Records of Response Deadlines
Having everything related to the response deadlines in something as simple as a spreadsheet can do a whole lot of good for keeping the response deadline process efficient and effective.
Avoid Making Any Statements to Creditors Saying You’ll Pay the Debts Without First Checking to See if the Creditors Submitted Their Claim On Time
You don’t want to have to pay funds to creditors when you’re no longer legally obligated to do so. You’ll always want to verify the creditors who are making claims against the deceased’s estate have properly adhered to the associated deadlines. If the creditors have not properly adhered to the associated deadlines, you’ll likely not have to pay them the funds they’re requesting; as the deadlines have passed.
Ensure There are No Extensions to Creditor Deadlines (Most Deadlines are Very Strict)
There may be an off chance the creditors were given an extension to their deadline. This is quite rare, yet it can happen from time to time. Verify this is or is not the case, as most deadlines are very strict for creditor claims.
Contact Us to Learn More About How We Can Assist!
If you’re searching for how long do creditors have to collect a debt from the state of Florida, you’re at the right place. Our team at Lorenzo Law is dedicated to providing you with the highest level of service to best assist you in the oftentimes difficult process. Feel free to contact us using the button below and we’ll be sure to respond to your inquiry as soon as possible. We look forward to hearing from you soon!
