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?
2007-06-01 22:05:24 · 3 answers · asked by Anonymous in Business & Finance ➔ Credit
First of all I am sorry about your loss. You should NOT be liable to repay your Mom's loans unless you were a co-signer or somehow attached to her accounts. If there was a will and/or trust in which she had assets you may have to repay the debts from the estate but otherwise just provide proof of death to the creditors and they should write them off. This is a difficult time for you so be very careful about what you sign. You are NOT liable for anyone else's debts so do not assume liability.
2007-06-01 22:10:51 · answer #1 · answered by Anonymous · 2⤊ 0⤋
The card only reports to the credit bureaus once a month and only what shows on your account at that time. If you immediately pay charges, it is likely that no utilization will show when they report. You have to have utilization to build credit. Just keep it simple. Use the card for regular purchases and pay the STATEMENT balance in full every month. That builds credit and avoids interest.
2016-05-19 01:54:13 · answer #2 · answered by ? 3 · 0⤊ 0⤋
I agree with Ray.
I am sorry for your loss.
2007-06-01 22:13:38 · answer #3 · answered by echo 7 · 0⤊ 0⤋