2007-02-12 03:47:14 · 14 answers · asked by Anonymous in Business & Finance ➔ Credit
NO!
There is no such thing as a joint credit card account, one person and one person only has to be responsible for the debt, and that person is the one who opened the account and signed the credit agreement.
An additional card will be provided to anyone on request but the account holder (the person who opened the account and signed the agreement) is wholly responsible for the debt. When the main card holder dies the account will be closed and they will attempt to recover the money from the estate, but there is a specific order that debts have to be paid out to and credit cards are quite a way down the list so if there is not sufficient money in the estate (this includes property, which may have to be sold) then the debt dies with them.
This is the fact of the matter, many people think they have a joint credit card account but they don't, there is no such thing in this country, and if an additional cardholder rings up to ask a question about a credit card account without the principal cardholder's express WRITTEN consent then the company will be unable to provide any information to them whatsoever.
2007-02-12 18:11:56 · answer #1 · answered by James 1 · 0⤊ 1⤋
No, unless it's a "joint account", an additional cardholder has no legal obligation to repay a debt because they've signed no legal contract, or a legal right to use it if there's no longer a legal cardholder. Otherwise, you could add your ex to the card and go jump off a bridge. If the additional cardholder continues to use it after the cardholder dies, they've committed a crime and can go to jail for it! And/or be ordered to pay restitution and collection costs.
2007-02-12 03:53:03 · answer #2 · answered by kena2mi 4 · 1⤊ 0⤋
As previous persons have mentioned it relies upon on the region, once you're a joint with the deceased then hard, besides the undeniable fact that, then it is likewise probably each and every little thing else is joint, so then the valuables interior the united kingdom is likewise yours. while you're purely a card holder, and that's ascertained from the bill, because it is going to say Mr and Mrs or Joe Bloggs and Cyril Squirrel if the account is joint, and purely Mrs, or Cyril Squirrel as an occasion if no longer, then you definately are no longer reliable. the cardboard corporation does besides the fact that have an automatic "lean" on the deceased's components, so interior the form that say the home is joint, mutually as you would be able to take over the different element of the domicile you're returned answerable for the debt regardless of if no monies are available in to service aforesaid debt. word however which you are going to no longer be able to be evicted from the valuables to pay the debt and that i've got faith, yet am no longer specific, that activity isn't chargeable. returned yet it probable relies upon on circumstances. the respond is earlier you snuff it perform a little form of investment portfolio to dam the flair quagmire.
2016-11-03 06:02:19 · answer #3 · answered by arrocha 4 · 0⤊ 0⤋
If you have simply a courtesy card the debt is not your obligation once the account holder passes away, the cc company would have to pursue restitution through the estate. If you have a joint account where both of you are on the account with your social security numbers and both of you signed the credit application, it becomes your obligation.
If they pass away and you continue to put charges on it with your card knowing the account should have been closed, you would be legally liable for the new charges, that would be considered fraudulent use of the account.
If you run a credit report on yourself, that account should not show up on your credit report if you simply have an additional card. That's because it is not your financial obligation.
2007-02-12 03:57:01 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If you read the cardholder agreement, I'm sure it tells you flat out that if you are an additional cardholder, you are responsible for all the debt if the other cardholder dies.
2007-02-12 03:50:23 · answer #5 · answered by *Melody->Chase's Mom 6/28 4 · 0⤊ 2⤋
Depends. Did you sign a contract, or were you simply provided a card with your name on it? If you signed, you are in for the debt. If not, you are OK, but the estate must pay the bill.
BTW, if you make charges AFTER the death, you will likely be liable for those, either way.
2007-02-12 03:53:39 · answer #6 · answered by J.R. 6 · 1⤊ 0⤋
Felicia...it depends, both of my kids have crdit cards with their names on them but they are from my account, the bill comes to me...no they could not be held responsible for the balance in the event of my death, because it is my account....i am not sure if that is what you meant but if it is all from one acct. the one whos account it is is the only one who owes, or if they die, their estate.
2007-02-12 03:52:59 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Yeah that's what happens, so if he's a terminal case, hold on to the card
2007-02-12 04:34:08 · answer #8 · answered by Sky 3 · 0⤊ 1⤋
yes and do not let the other person run it up while they are alive ethier, you will be jiontly responsible for paying back if one defaults.
2007-02-12 03:57:15 · answer #9 · answered by john r 4 · 0⤊ 1⤋
Yes. And that is a 100%.
2007-02-12 03:50:11 · answer #10 · answered by Ben 3 · 0⤊ 3⤋