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2007-01-15 03:02:59 · 5 answers · asked by yadidifresh 1 in Business & Finance ➔ Credit
they take it from your "estate" if you are of legal age. This might mean sell your stuff and pay back debts. Things like cars and furniture are repossesed If you do not have enough stuff or money, the companies takes back what they can and the rest is written off.
Underage- your parents are responsible for it.
2007-01-15 03:11:40 · answer #1 · answered by dedum 6 · 3⤊ 0⤋
It all depends upon the company that holds the debt. Many companies will write off debt if the person who owed them has died while other companies will seek to get restitution from the relatives of the person who died, especially if there is an estate where they can make a claim against the assets that would otherwise be passed along to the heirs.
2007-01-15 11:12:12 · answer #2 · answered by Martin S 7 · 2⤊ 0⤋
Each state has different laws,you need to talk to a lawyer to see what the law is in your state.
2007-01-15 11:16:49 · answer #3 · answered by carpathian3030 6 · 2⤊ 0⤋
The creditors will likely go after your estate to recoup the money. (Translation: They will go after your heirs and everything may well end up in court.)
2007-01-15 11:12:36 · answer #4 · answered by pinduck85 4 · 3⤊ 0⤋
Yes, they'll still try to get theirs. Whatever you do.... don't die on purpose. That's never a solution to debt problems.
2007-01-15 11:15:13 · answer #5 · answered by teran_realtor 7 · 3⤊ 0⤋