I've read the small print on some credit cards that have that protection that upon death it could be waived but depends if the person died of natural causes but it doesn't protect suicide.
2006-06-18 17:58:14
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answer #1
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answered by ♪ Tony's girl ♪ 4
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No unless it's to the government then they will come after the family once you inherit the items that the person left behind, other then that if it's to school or credit cards then the answer is no because that was his debt and only his no one should have to shoulder the responsiblity of someone else's debt. So if your called by a financial insitution and or school or by a person then tell them sorry but that debt wasn't mine I did not make the debt and the person your looking for has since passed away and is no longer around to reslove this matter so you will just have to give up on collecting whatever it is you were owed in the first place.
2006-06-18 21:52:35
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answer #2
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answered by Kaley 2
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Sorry to hear of your loss.
Generally speaking, if the child is an adult, ie over 18, then those debts incurred as an adult are his alone, if you did not co-sign on any loans. As other posters have noted, the debts will be taken out of any "estate" that is left.
However, some debts you may still be liable for. For instance, loans that you may have helped him get, such as car loans or student loans, could have a provision that makes you liable upon death.
Any creditors who are professionals should know these rules and not contact you for payment. Any "personal" loans that were given by friends, family, or colleagues (i.e. people who are not savvy creditors) are not your legal responsibility, regardless of what they may feel.
2006-06-18 21:13:44
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answer #3
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answered by www.promoneytalk.com 2
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It entirely depends on the state and what type of debts they are. Credit card debts die with the cardholder. However, car or home loans do not. They will require payment from the estate. If, after everything is paid from the estate, there is anything left over, it then will be divided among those listed in the will. If there isn't a will, remaining monies will go to the next of kin.
2006-06-18 18:22:32
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answer #4
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answered by Bob S 3
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2016-10-31 02:50:33
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answer #5
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answered by Anonymous
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if they are under his name strictly than no.. but it will be fun passing out all the death certificates to them to settle it all.. it's a long, hot mess of a road. i seriously suggest hiring a laywer..
anything in his name along will have to be paid before assests are divided.. in many instances.
if they are any joint accounts than regular payments will have to precede..but not in full at his death.
all those handy legal jargon filled papers you get with stuff explains it all..
2006-06-18 17:55:45
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answer #6
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answered by smokes_girl 5
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No.
Top 3 Answerer in Busines & Finance. (Vote for me)
2006-06-18 18:01:54
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answer #7
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answered by Anonymous
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See a lawyer
2006-06-18 17:55:27
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answer #8
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answered by Anonymous
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if over 18 -no
2006-06-18 18:05:10
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answer #9
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answered by changeling 6
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No.. unless he has assets which the family is going to inherit.
2006-06-18 17:54:42
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answer #10
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answered by Anonymous
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