Their estate is responsible for the debt. First, if the deceased has a home, property, condo, cars, etc., the estate will sell it off and pay the debtors. If there are no assets, the debtors will lose their money. If there is no will, the estate will be distributed according to the intestacy laws.
A person is in credit card debt when they have charges on their credit card and can not pay them. A person can make charges on a credit card and make payments at a later date. When a person charges on their credit card, the charge is now a debt that must be paid.
The person's credit card debt will remain as unpaid unless they pay it. Going to prison does not cancel any type of debts incurred.
It becomes part of the probate procedure of the deceased's estate.
The use of a deceased person's credit card would constitute credit card fraud. Unlawful use of a credit card is a criminal offense.
Yes, unless the credit card holder told the person that it was a gift.
Applying for a credit card does not mean that a person has to us it. It is advisable that the person does not cancel the card, as this actually is harmful to credit scores, while having an unused credit card can be beneficial for credit scores.
They can't ! A credit card is issued in recognition that the card-holder is able to repay any balance owing. If a person has no regular income - they are extremely unlikely to be granted a credit card !
the credit card company sends people to get their money i would want to pay them.
When a person applies for a car loan, mortgage or credit card, the lender determines if lending money to the consumer will be a risk. Credit scores are one way to help credit card companies make the decision to issue credit. To determine if that person should be given a loan or credit card (apex)
They say that I am in contract to pay for everything. They have my credit card and that's it. What can happen if the credit card on file is invalid?
It depends what you mean by a second person. Typically on and existing credit card you can add people who are authorized to use the card. You can also request for credit under more than one person's name.
To determine if that person should be given a loan or credit card