2006-11-03 02:03:47 · 22 answers · asked by charleston chew 2 in Business & Finance ➔ Personal Finance
If you have a will and a significant amount of money than whoever inherits it will be responsible. My father passed away and didn't have much money to his name so all of the credit card debt was just erased. I wasn't responsible for his credit debt or hospital bills (which added up to about $25,000). I just had to turn his car back over to the dealership, that's all. He had no will either.
2006-11-03 02:07:37 · answer #1 · answered by megkenzee 2 · 1⤊ 0⤋
Nobody. If you have no money in the bank when you die, and have no major assets, the Credit Company is screwed. Your parents and relatives are NOT liable. They make call and ASK your relatives to cover the debt, but your relatives are under NO legal obligation to do so. IF you have a house, or other major assets, money owed would be exacted from that, before being disbursed to anyone in your Will.
2006-11-03 02:10:57 · answer #2 · answered by Quietman40 5 · 0⤊ 0⤋
If no one cosiged anything, then your estate, if your estate is not big enough to pay, then the credit card company just loses that money. If someone did cosign then they would have to pay. The proper thing to do would be to pay off your credit cards before you die.
2006-11-03 02:07:16 · answer #3 · answered by victorschool1 5 · 1⤊ 0⤋
Your estate, whatever it may be, will have to be Probated through the court, and they should be given opportunity to file a claim. The executor will liquidate assets to pay them, and if the estate doesn't have sufficient assets, the unpaid part of the debts cease to exist. The only way anyone else can be required to pay is if they signed up for responsibility.
2006-11-03 02:07:46 · answer #4 · answered by open4one 7 · 1⤊ 0⤋
Aint nobody needs to pay when u die. BUt u might not get good credits in the future
2006-11-08 11:04:07 · answer #5 · answered by zhan l 1 · 0⤊ 0⤋
well if you own property the state can put a lien against the property for your debts and the said property sold for what you owe going by the laws of your state an if lets say you live in an apt your next of kin could be liable to pay it
2006-11-03 02:06:25 · answer #6 · answered by precious_52806 2 · 0⤊ 0⤋
Your estate unless someone in your family co-signed on the debt. If no co-signor and your estate has no assets the credit card company can't collect from anyone.
2006-11-03 06:04:06 · answer #7 · answered by waggy_33 6 · 0⤊ 0⤋
The credit card god's will not let you die until you pay up.
2006-11-03 02:11:19 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Your estate can be applied to this debt, but if no one signed with you to get the credit card you and your estate have the only obligations to pay. If no one in your family signed for the card then they have no obligation.
2006-11-03 02:07:33 · answer #9 · answered by dano 4 · 1⤊ 0⤋
It comes out of your estate - any real estate, vehicles, property you may own.
If you do not OWN anything, the credit card companies have to just write it all off.
2006-11-03 02:13:44 · answer #10 · answered by brandiejs1979 4 · 0⤊ 0⤋