2006-09-21 14:12:40 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
Your estate.
All of your stuff is liquidated, creditors are paid off, then anything left is taxed and distibuted to heirs. Feeding frenzy.
2006-09-21 14:20:29 · answer #1 · answered by n0witrytobeamused 6 · 1⤊ 0⤋
Technically your heirs are and the credit card company can attach your estate if you have one. If the debts are unsecured and the estate is settled to the heirs prior to credit card company's knowledge of your death then the company may have to evaluate the remedy of collection from the heirs. It all will come down to the collection amount and the cost of collecting. The company wont spend $5000 in collection costs to collect a $6000 debt but most likely will take a year end write off. If the debt is $60,000 or $120,000 they will pursue collection.
Solution? Make sure you have credit insurance. Then if you do the deep six the insurance company pays the credit card company and your heirs wont have to worry about your debts.
2006-09-21 14:38:22 · answer #2 · answered by Anonymous · 2⤊ 0⤋
This is true that some people are so selfish they deliberately run up cards knowing they are dying. This happened to a person I know with HIV....he left over 50,000 dollars of debt. His brother, a man of honor, paid off the debts and was so ashamed of what his brother had done.
2006-09-21 14:21:46 · answer #3 · answered by Cassie 5 · 0⤊ 1⤋
A lot of legal experts here with different answers. I'll just call an attorney.
2015-03-04 12:05:00 · answer #4 · answered by Anonymous · 0⤊ 0⤋
When you die your debts must be paid off from your estate. This means the executors of your will must sell your things to pay it off.
2006-09-21 14:21:10 · answer #5 · answered by Anonymous · 1⤊ 0⤋
they write it off as a loss i am sure who else could be liable to pay a debt for a dead person
2006-09-21 14:20:02 · answer #6 · answered by italian_vixen402005 1 · 1⤊ 0⤋
The executor of your estate. (chosen under your will). or the State intesatate succession act officer.
Dan.
2006-09-21 14:22:09 · answer #7 · answered by Dan S 6 · 1⤊ 0⤋
No one it dies with the person. I had someone in the family with this situation.
2006-09-21 17:50:35 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Your "estate"....who you leave your valuables too. But, unless you leave a lot of cash to them, they won't have to pay it.
2006-09-21 14:20:12 · answer #9 · answered by mississippi_gal_10 3 · 1⤊ 0⤋
If married, your spouse, otherwise, your estate.
2006-09-21 14:20:28 · answer #10 · answered by Anonymous · 1⤊ 0⤋