2007-03-25 16:28:23 · 11 answers · asked by debbie y 1 in Business & Finance ➔ Credit
If the person is married and they live in a community property state - the surviving spouse "may" be held liable.
If the person is married and they do not live in a community property state and the spouse is not a joint on the credit card, "everything" is in both parties names, then the debt is noncollectable. If the person who died had property in his/her name only (and no will), that property may be subject to liens or seizure depending on the states exemption statutes.
If the person is not married (and no will), the bills will be paid by the estate.
2007-03-25 16:49:07 · answer #1 · answered by echo 7 · 1⤊ 0⤋
It depends:
1) If the credit card was in 2 names, then the survivor is responsible for the credit balance.
2) If there is an estate, then the credit card company can go after it - however, life insurance proceeds go to beneficiaries and are NOT part of the estate.
3) If the estate holdings are held in trust, then there is no estate for the credit card company to go after, and the debt dies with the card holder (another reason to put everything in trust).
2007-03-25 16:34:58 · answer #2 · answered by Anonymous · 2⤊ 0⤋
If there is an estate. The executor is to notify all known debtors (and maybe run a ad in the paper, I am not sure on this point) they file a proof of claim to the attny and executor and they pay what they can towards the bill and the rest if forgiven.
If there is nomoney to be had than the bill is just drooped after notification to the creditors
2007-03-25 16:33:03 · answer #3 · answered by G L 4 · 1⤊ 0⤋
The link under will supply some solutions. I talked to somebody at Chase who appeared to have some info. She stated it grew to become into company as accepted and that it would desire to take as much as two years in the previous each little thing grew to become into thoroughly replaced. She stated that it would desire to be sometime in the previous you're issued a card with a Chase emblem. additionally, in case you have already got a Chase card and a Wamu card they won't be mixed yet will proceed to be seperate debts.
2016-10-20 11:12:19 · answer #4 · answered by mathison 4 · 0⤊ 0⤋
They still need to be paid, and are liabilities of the deceased person's estate. If there are any assets that the deceased had, they would need to be used to pay the credit card bills.
2007-03-25 16:30:54 · answer #5 · answered by Anonymous · 0⤊ 0⤋
They are generally handled by the estate, and if there isn't enough in the estate to pay all debts then the debts are written off.
2007-03-25 16:30:44 · answer #6 · answered by FCabanski 5 · 0⤊ 0⤋
If the person has any money they go after the estate but if their broke they have no choice but to write it off.
2007-03-25 16:31:34 · answer #7 · answered by sharpeilvr 6 · 0⤊ 0⤋
They may be the next of kins issue.
2007-03-29 09:22:58 · answer #8 · answered by Pepper 6 · 0⤊ 0⤋
it might get pass`d on to the family or just be cancel. the company just loses money ): so they will charge us more interest
2007-03-25 16:30:43 · answer #9 · answered by connie 2 · 0⤊ 2⤋
even though my mum works in a bank im not shore i think they are wiped so if you got big bills you might wana kill your self or at least pretend to.
2007-03-25 16:32:58 · answer #10 · answered by Anonymous · 0⤊ 4⤋