Upon Dad's recent death, we were shocked to find he had three credit card debts, totalling nearly £6K. He was only paying minimum payments, which swallowed most of his pension. He has no other assets except share of the bungalow/mortgage with my mother which is in joint-names. He only had a small bank account, through which his pension, mortgage and bills were paid. The cards were in sole name only. His bungalow with my mother is mortgaged in joint-names, but has no life assurance, so now my mother has to pay the mortgage from her small pension. Can these credit card people force my mother to sell her bungalow to pay the CC debt ?? (Bungalow is warden-assisted, worth about £120K, with mortgage of about £25K).
2006-10-08 22:56:57 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
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2006-10-09 10:57:54 · answer #1 · answered by Anonymous · 0⤊ 1⤋
1 ) check if the card company has insured the card against such eventualities - normally they do - do it discreetly.
2 ) if yes, then you can delcare the card holder dead by sending the death certificate to the card company
3 ) if not, then too, you can still check further if the company has in its regulations mentioned that the inheritors of the card holder's properties are liable or not - this can be done through an advocate /counsellor
4 ) if yes, then check what your local law of the land says in such cases, and act accordingly or
5 ) finally pay-up.
2006-10-08 23:07:17 · answer #2 · answered by pandchick 2 · 0⤊ 0⤋
I would start by sending the credit card companies a copy of his death certificate and see what they say. They may write it off.
2006-10-08 23:00:08 · answer #3 · answered by phoenixheat 6 · 0⤊ 0⤋
Send CC company's copies of death cert, they write it off as long as someone else name isnt on the cards....If your moms on them she'll have to pay...
2006-10-08 23:08:05 · answer #4 · answered by ABBYsMom 7 · 0⤊ 0⤋
sounds like you need to seek help from citizens advice - can find them in your telephone directory
2006-10-08 22:59:34 · answer #5 · answered by schmushe 6 · 0⤊ 0⤋
this is what I did and it helped me thus far
http://debt-consolidation.50webs.org
2006-10-12 16:53:44 · answer #6 · answered by Anonymous · 0⤊ 1⤋