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The estate has to pay all of the debts, including credit cards, if possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts are ended.
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Who is resposible for credit card debt if there is no estate?
The estate is responsible for the sole debts of the decedent. If there is no estate then the creditors are out of luck.
If there is money in estate do you still have to pay credit card balance?
Yes, the estate has to pay off the debts including credit cards. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
In Florida what should a daughter do about credit card debt of a deceased parent?
Make sure the executor of the estate is aware of the debts. Those debts have to be resolved before there can be distribution of the estate.
Who is responsible for credit card debt when there is no estate?
Generally a person's estate is responsible for the decedent's debts. If there is no estate the creditors are out of luck. They should be notified of the death.
Who is responsible for a dependent's credit card debt?
The dependent's estate is required to resolve all debts. If there are co-signers on the credit card, they may be held accountable. If there are not enough assets to pay off the debts, they are not resolved.
Who is responsible for your credit card debt after your death in Mississippi?
The estate is responsible for the credit card debts of the deceased. That means before the estate can be settled, all debts have to be cleared. If there is not enough in the estate to cover them, they may not get paid.
What happens when your estate is zero and you have credit card debt?
Credit card debts are one of the primary reasons someone should open an estate. The estate has to pay off the debts. If they are unable to do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
What are the estate laws in California concerning credit card debt?
In California, credit card debt does not automatically pass to a deceased person's heirs. The deceased person's estate is responsible for paying off any debts, including credit card debt. If the estate does not have enough assets to cover the debt, creditors typically cannot go after the deceased person's family members. It is advisable to consult with a legal professional for specific advice on handling credit card debt in an estate in California.
Who is responsible for credit card debt after the death of a parent in the state of Wisconsin?
The estate is responsible for credit card debts and all other debts. One of the primary reasons someone should open an estate is to resolve debts. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Who is resposible for credit card debt if there is no estate?
The estate is responsible for the sole debts of the decedent. If there is no estate then the creditors are out of luck.
Who pays for credit card debt when the decease has left no estate?
Credit cart debts are one of the primary reasons to open an estate. The estate has to pay off the debts. If the estate doesn't have the assets to do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
If a person has no estate at the time of death who would be responsible for his credit card debt?
Currently I am dealing with estate issues and credit card debts. I am not a lawyer but after talking to many professionals, it seems to me that if their is no estate and no joint credit card holders then the card company will have to write it off.....
If there is money in estate do you still have to pay credit card balance?
Yes, the estate has to pay off the debts including credit cards. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
When you die do your children have to pay your credit card off?
The estate is responsible for the debts. Anyone on the credit card would also be liable for the debt.
Who is responsible for credit card debt after death in Canada?
The estate has to pay off the debts including credit cards. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Who is responsible for credit card debt when a person dies?
Credit cards are the responsibility of the estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
What if the person who died with credit card debt who has no estate?
Debts are one of the primary reasons to open an estate. The estate has to pay off the debts. If the estate doesn't have the assets to do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
