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Are you responsible for your dad's credit card debt after his death when the account was in his name only but you were making the payments?
Wiki User
∙ 18y ago
You should consult and attorney for a legal answer. However, my experience would tell you that if you did not sign the contract, you are not responsible. * No, paying a debt or a portion of a debt for another person does not legally obligate the person to assume the debt or continue payment of such. * Actually, his estate is responsible for the debt. So, for example, if you are the heir, or one of them, before his property is released to you, his debts will be paid out of that property. If he had a will, this will be easier, I imagine, and if he died intestate (without leaving a will) it will be more complicated. I do agree that a lawyer is a good idea, and the short answer is no, YOU are not responsible for his debt.
Wiki User
∙ 18y ago
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How can personal responsibility affect your credit report?
Creditors will often take into account how responsible a person is in making payments on their loans and credit cards.Making payments on time, keeping your credit utilization low and establishing a solid payment history are some actions that can have a positive impact on your score.
Can medical bills effect your credit while making payments on them?
Yes, this is only reported on your credit report if it is a collection account.
What is a responsible use of credit?
Buying something on credit and making many payments on the account over months gradually paying down the debt. If you are seeking to build credit, then don't pay it all off too quickly as that doesn't establish a history of making payments. It takes at least 6 months of payments to even affect your credit report. Also, don't only pay minumim payments. You want to establish that you can be trusted and will not strecth yourself too thin.
Co signed for a car for your grandson and he is not paying If you stop making payments will your credit be affected?
Yes. When you co-signed the loan you made yourself legally responsible to pay the amount due if your grandson failed to make the payments. You are as responsible as he is for paying the loan.
If you have been given a credit card as a secondary card holder and have bad credit will this help rebuild your credit or is it all reported on the primary cardholder history?
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What happens in Florida if you quit making credit card payments?
after 180 days of non payment your account will be charged off and turned over to collection agency
Can you close your checking account if you have a balance left on your VISA card?
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Will removing an authorized account that has a high balance raise the fico score of the authorized user?
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When adding an authorized user to your account, you are agreeing to any and all charges that person places on the account. If the authorized user chooses to abuse the account, such as making purchases beyond the amount that you are able to pay or by exceeding the limit of the card, the negative effects goes against the primary users credit. The authorized users credit is not affected at all and they are not responsible for payments. So be careful who you chose to add to your card.
What are some ways that one can increase their credit score?
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