2006-08-10 15:38:00 · 12 answers · asked by rwhz199 4 in Business & Finance ➔ Credit
No, unless there is a co-signer. When the person dies their estate pays their outstanding bills from life insurance, etc.
If there is not enough to pay off all of their outstanding bills, the credit card company is out of luck.
2006-08-10 15:41:13 · answer #1 · answered by Christopher 4 · 0⤊ 0⤋
If you filed seperately on your taxes in the even of a spouse's death his or her taxes would not be due for the year and any paid in would be refunded (if you filed a tax return for the year in his/her name as the survivor. Evenb any leviedtaxes for previous years would not have ot be paid on the deceased.
How ever if you filed jointly the surviror would be held liable. There is an innocent spouse clase the IRS has to benefit a spouse who knew nothing iof the persons doings, but this takes a court room full of lawyers and a suitcase full of money.
For credit cards, bank notes ect or other bills not insured for which you ar ea joint owner than you are responsible for the entire amount. If you have seperates accounts and are not on the spouse's accounts than you are not. However any jointly owned value such as property, houses, automobiles, jewery, bank accounts, ect his side could be levied against, and either collected ot closed on thu court.
It's a lawyer';s world. Many lawyers are now also into collection agencies and they could care less how may children suffer when they jump on a widow or mom with kides.
2006-08-10 23:05:05 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes! All debts are still expected to be paid. Through the family/spouse/insurance money/estate. We don't get out that easy.
2006-08-14 20:47:07 · answer #3 · answered by Mamaw 2 · 0⤊ 0⤋
If there is no other co-signer or person on the account jointly -- the simple answer is no. That is true with any unsecured debt.
If it was a secured credit card -- then they will forfiet the collateral.
2006-08-11 00:29:41 · answer #4 · answered by BShakey 4 · 0⤊ 0⤋
The co-signer for the card, if there is one. If not the debt comes out of the estate.
2006-08-10 22:43:06 · answer #5 · answered by kny390 6 · 0⤊ 0⤋
Nobody is unless there name is also on the account. The credit card company is **** out of luck if its just the deceased person on it.
2006-08-10 22:45:08 · answer #6 · answered by niccinono 2 · 0⤊ 0⤋
with the probated procedure, the court will decide
Asset( house,bank account,investment,business)- Liability(creditcards,house note)
If asset < liability ,the lender in the short end of the stick.
If asset > liability , the networth pass through their heirs.
2006-08-10 23:52:30 · answer #7 · answered by Hoa N 6 · 0⤊ 0⤋
YES! the other/next legal person!
2006-08-10 22:42:22 · answer #8 · answered by Anonymous · 0⤊ 0⤋
yea the persons kids or husband or wife
2006-08-10 22:41:40 · answer #9 · answered by amo 3 · 0⤊ 0⤋
the spouse
2006-08-10 22:41:38 · answer #10 · answered by Anonymous · 0⤊ 0⤋