Comments on: Who is responsible for the credit card debt of a person who dies?

By: cholox

cholox — Sun, 21 Feb 2010 21:11:26 +0000

It’s in his estate. however, if the credit card debt overwhelms the person’s estate, the banks should not go after the relatives. Unless, a person from the family signed with the deceased.

By: Lisa A

Lisa A — Thu, 18 Feb 2010 16:03:43 +0000

1) The estate
2) Cosigners
3) The spouse, but only in a community property state.

Nobody else, including the heirs, is required to pay the debt. But the bill has to be paid out of the estate before the heirs can inherit anything.

By: ffr

ffr — Thu, 18 Feb 2010 01:11:57 +0000

If a person owe money and pass away, his assets will be used to pay off the debt. If the person has no cash, stock, or bonds, your furniture, car, and jewelry will be sold to pay off your debts. The credit card company could pursue the spouse or child for repayment.

By: Nerdy™ Sanchez

Nerdy™ Sanchez — Mon, 15 Feb 2010 01:26:09 +0000

The estate IS responsible, but if the credit card account was a joint account (owner and co-owner of said account) the other person is responsible.

If your uncle had an authorized user on the account (many people add their children), then it would be in the best interest of the authorized user to take care of the debt, because it reports to their credit bureau as well.

By: Michael M

Michael M — Sat, 13 Feb 2010 12:07:10 +0000

the estate like one person said
But, I used to do collections and when a person died, the family would fax a death certificate my company. It would be reviewed by the appropriate department, and then it was just written off. No payment required. When I left, there was a drive to try to collect on dead people. BUt, I even think they found it was expending too much staff time to collect on the accounts.
Call them and explain the person is dead, and you will probably get off sending in the certificate. If they say, can you pay … etc, just say no. Times are too hard.
My mother passed last year and did not have an estate, so it was easy on me. Just send Death Certificates to places and issue done. She died in Jan, and did not meet the income levels, so do not even have to do an IRS form this year. All they wanted was an original death cert.

By: Judy

Judy — Thu, 11 Feb 2010 04:56:46 +0000

No one in his family is responsible – NO ONE.
The reason I capitalized is because creditors, even though they know this, they will call you and scare you into thinking you owe them.
Please tell everyone in your family.
They can call anyone in the family.
I’ve heard they even call neighbors asking if they know of any other family members.

If the debt is large enough, they will go through the estate.
Once the estate settles, the creditor will have to come after the estate.
If your uncle had no cash assetts to his name – he will owe nothing.
Note: Im 90% sure they can not come after any life insurance payouts.
/

By: rtfm

rtfm — Tue, 09 Feb 2010 04:55:27 +0000

His estate. Any assets that he had must be liquidated and used to pay off all his debts, including credit card, before any distribution is made to his heirs.

Whoever is the executor of his will or the administrator of his estate must notify his debtors of his death and make arrangements for payment. They will not be responsible for paying any of his debts out of their own pocket.

By: Bubbles McGee

Bubbles McGee — Tue, 09 Feb 2010 02:36:54 +0000

His estate.

By: Paul D

Paul D — Fri, 05 Feb 2010 17:40:08 +0000

His estate. And if there are not enough assets to satisfy the debts the creditors cannot come back to relatives. Unless of course someone co-signed an account, for that the survivor would be liable.