If I died and I owed a credit card company a bunch of money, how would they get them money? What if I didn't have anything they could reposes? Would they charge my family? What if I dont have any family?
2006-12-07 00:28:33 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
They will attempt to get money from your estate. If you don't have any assets, such as real estate, they will not be able to collect anything. They may attempt to get your family to pay, but unless they signed the contract along with you, there isn't anything they can legally do to collect their money.
2006-12-07 00:51:09 · answer #1 · answered by Flyby 6 · 0⤊ 0⤋
The debt is yours, not your family's. Generally, if you had any assets, the executor or administrator of your estate would be responsible for paying any of your debts out of the assets before anyone inherited them. If there are no assets to pay off the debt, your estate will be insolvent and the creditors will have to write it off as uncollectible.
2006-12-07 00:31:54 · answer #2 · answered by Michael K 1 · 2⤊ 0⤋
thay would sell off your estate such as homes, cars,rings
anything thay could turn into cash to pay the bills then if any bills are left then write them off. if there is cash left it goes to your estate, kids, wife....
2006-12-07 00:36:06 · answer #3 · answered by Anonymous · 0⤊ 0⤋
1. insurance
2. if no insurance, they use your assets (home, car, clothes, etc.)
3. if none of the above, they go to the family
4. if none of the above above, they right it off
2006-12-07 00:31:04 · answer #4 · answered by dana_osmundson 3 · 0⤊ 2⤋
your estate if you have anything
2006-12-07 02:17:07 · answer #5 · answered by Anonymous · 0⤊ 0⤋
You care???
2006-12-07 00:34:13 · answer #6 · answered by Anonymous · 1⤊ 0⤋