deceased moms credit card bills, can i continue making monthly payments or will i have to pay it all at once?

Question

my mom recently passed away and im the one now responsible for paying off her credit card bills. will the credit card companys allow me to continue making monthly payments or will i have to pay it all at once?

i could easily pay it off all at once but then my savings would be pretty much gone so id prefer to continue paying monthly even if theres interest.

i have to pay it because i was the sole beneficiary to her estate. and the 2 cards i need to pay off dont have a debt cancellation if the cardholder is deceased

Answer 1

I must ask, how are you responsible for the credit card debt?

Unless you personally secured the debt or the debt is in a joint account of some sort, the debt isn't your problem. Typically, a child is not responsible for the debt of their parents.

However, the creditor will probably make a claim against your mother's estate. If there is specific property you want to save and your mother's estate was cash poor (lets say she only left you a house and no cash), if you want to keep the house, you will have to pay the creditors personally.

In that case, it is up to the credit card company. I'm sure if you are willing to secure the loan personally and are willing to pay back the loan at your mother's current interest rate, they will be happy to rake you over the coals as well (the key is you will have to personally agree to pay the debt, so the debt will now be yours).

Give the credit card company a call, I'm srue they will be happy to screw you...oops..mean help you.

Sorry to hear of your loss.

Answer 2

First your moms estate is responsible for paying the cards, not you personally. You only manage her estate. None of your personal money should ever be used to pay it. Never sign or say that you will it's not your personally responsibility.

So any money your mothers estate has/had left over should be used to pay off the cards and any other debts. If there is any debt left then they cannot collect it. You are NOT responsible for any remaining debts after her estate value is $0. They have to write it off.

It must also be under stood if she left money to any relatives, the debts must be paid first before any cash or property distributions are made from her estate.

It doesn't matter what the card company(s) say YOU DON'T have to pay it out of your money. It's a collections trick and you are falling for it and it is illegal. You are not responsible for you mothers debts.

here is a good article:

Do I Have to Pay my Parent's Debt?


Many people have the misconception that they are responsible for paying their parent's debts, particularly when the parent dies with outstanding bills. This simply isn't true.


The only time one is responsible for paying a debt is when (1) he or she acquired the debt alone or jointly with another person (such as a spouse); or (2) when one
co-signs a loan for another person.


Unless you co-signed for your parent's loan or are the joint accountholder on any type of account with your parent, you are not legally responsible for paying the debt. Who is responsible? Your parent's estate is responsible.


In fact, after paying for your parent's funeral expenses, unpaid creditors are next in line for receiving any money or assets in your parent's estate. You only inherit your parent's wealth after all creditors are paid.


If there is insufficient money or assets to pay all creditors, then the estate must be divided up as equally as possible, with secured creditors receiving priority. This means that, if your parent died with little or no money in their accounts and didn't own a home, unsecured debt, such as credit card debt will not be paid to the creditors. Such creditors must eat the loss, but in no circumstance, are you as the child of the deceased person required to pay such debt.


If a creditor or debt collector tries to convince you that you are responsible for paying your deceased parent's debts, refer them to the executor or executrix of the estate. If they keep harassing you, send them a certified letter demanding they stop contacting you altogether. If they persist, file a complaint with your State's Attorney General's Office.

Answer 3

When my mother died I contacted her creditors and I told them my financial situation; low income. They basically told me that they appreciated me contacting them and whatever I could pay per month would be fine. A couple of them said that is was OK they would just write off the balance because it was under $200 due.

One of my aunt's wanted to use her credit cards because she said that I would not have to pay anything after my mother was dead. From that day until she died, I did not have anything to do with my aunt.

My mother was a very honest caring person, and I know that she would be very proud of me for taking responsible for her debts.
Her motto was what you send into the lives of others, will be returned to you in triplicate.

Answer 4

you might try negotiating with the credit card companies for a discount on the payoff. If done right you could save a lot of money.

Answer 5

is this credit card your responsibility ask your bank .. I cant see why you would have to repay a member of the families credit off.. have you signed a form to say you are responsible..don't pay it..there should be automatic insurance in a case of death,my condolences.
terry

Answer 6

Are you the power of attorney or what? You need to make sure that your name was no where on that credit card company. If your name was no where then they can collect their money where she is buried.

Answer 7

Why are you the one responsible? Is your name on these cards as well? My husband passed away April/2004 and I was not responsible for his card. I retained an attorney (for around $300) and he took care of everything. Good luck and my deepest sympathy for the loss of your mother.

Answer 8

you will have to call and ask them. pay them off all at once if you can. the interest will kill you.

Answer 9

I suggest you to pay it all at once.

I asume your mom left you something besides her debts.