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Do interest and late charges etc on a credit card stop accruing at the date of death?
Wiki User
∙ 8y ago
Not as a rule. The company will want proof, preferably a death certificate. The account will be closed, but the charges will probably accrue, until a decision is reached. Either by the sale of non-exempt property of the deceased. Or a "judgment proof" ruling by the court. Which means there are no funds available to pay the debt(s).
Wiki User
∙ 8y ago
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Use of credit card after primary holders death?
If a credit card is used by an individual authorized to use the account and that person was not aware the primary acct holder was deceased when the card was used, the card company will probably include the charges in the final bill submitted to the estate rep. If death was known they will hold the authorised user responsible for the charges. If the user was not authorized and knew about the death of the holder it was fraud and criminal charges should be filed.
If are paying off your parent's credit card debt since his death is the credit card company responsible for taking off all finance charges back to the time of death?
Why is the debt being paid? Was the deceased the only account holder? These things are very important, because ONLY the account holder is responsible for credit card debt. There are a few exceptions, but generally even they can be voided via the appeals process. Therefore, the interest charges are only valid if the debt is actually valid. The party involved might wish to consult an attorney concerning this issue. If the debt was part of the probated estate it should have been paid through the court. An authorized user is NOT responsible for credit card debt of a deceased person. The exception would be if the person continued to use the card after the account holder's death, in which case they could be held liable for those charges only.
Do interest and late fees etc on credit cards stop accruing at the date of death?
In many cases the debt "dies" with the debtor. This of course depends on circumstances, if the debtor was married and lived in a community property state, for instance. The interest, etc. will continue to accrue until the issue is resolved. Either in the debt(s) being paid by the deceased estate, or dismissed by the court. Sometimes an unethical creditor will attempt to collect from a non-debtor spouse, or a family member. This is why it is important to know the creditor/debtor laws of the state of residency.
When was Death on Credit created?
Death on Credit was created in 1936.
Is the credit card holder estate responsible for charges made to the card after the holder dies?
Were these Charges MADE after the Death of the Card Holder? - if Not - then the answer is NO -- NO -- NO ....Why then do most trustors pay off? Its a step in "wrapping Up" someones affairs - the paying off of Credit Cards and other debts - The "good old soul.. his word was his bond would have wanted it that way! Lets get it clear - Credit Card charges made by a decedent - ARE not subject to repayment if that person cannot by the fact of their death - pay that bill in person by check or moneyorder. The estate has no obligation to pay off credit card charges, only the living person who made those purchases & charges is responsible.Think of it this way - if your relative shot somebody, and then died - would you have to go prison for them? That's not logical! Inheritors of estates large & small are entitled to suffer their loss without private or public harrassment from bill collectors!
If your father passed away 2 years ago and your mother and brother were using his credit cards and she passed away is the estate responsible for the credit balance after his death or is your brother?
This depends upon a couple of basic things. 1. Any debt incurred by the Mom or the Child (with Mom's permission) up to the time of the death of the Mom is the responsiblity of the estate. After all her name is on the account and she knew of the charges and therefore the assets available at the time of death must be applied to the liabilities at the time of death. 2. Any charges made after the death of all parties unless specifically made for the estate then those charges will be considered fraudlent. The Estate will not be responsible for those, however see number three below. 3. If the child is using the card with out permission then the estate will not be liable for the charges. However, the credit card company is going to want their money so they will ask for one of two things: 1)the estate pay the bill or 2)the executor of the estate will sign a statement that the charges were made with out the parent or estate's permission which would constitute fraud on the child who made the charges. They will then seek payment from the child or press criminal charges against them. Hope this helps.
If your wife died with credit card debt in her name only should you send them a copy of her death certificate or wait for them to call?
Not sure what the procedure is for all credit card companies, but as long as you are not in charge of the deceased's estate, and your name is not on the credit card account, then you are not responsible. However, you are supposed to call the credit card company and report their death. Any charges incurred after the date of the deceased's death, you are responsible for -- as an authorized user. If you wish to assume the credit card account, you must send the company a copy of your documents naming you as the 'executor of the estate'. This was the case in my mother's recent departure.
Can credit card company continue to charge interest after death until the account is paid in full in North Carolina?
They can but it probably would not be seen as payable if the deceased estate enters into probate. It depends upon the laws of the state the person resided in. If there is no estate and the person was the only account holder, then the debt is uncollectible, so any such charges would be irrelevant.
What is the ISBN of Death on Credit?
The ISBN of Death on Credit is 978-1-84749-041-4.
What happens to credit card upon death in regards to the heirs?
The credit card should be returned to the credit card company or destroyed and the company should be notified immediately of the death so the account can be closed.
Why was casey Anthony proven guilty?
Casey Anthony was acquitted on all charges relating to the death of her daughter by decision of a jury on July 5, 2011. She was convicted on four charges of giving false sworn statements to police and received a sentence of four years in jail. She was given credit for time served and time off for good behavior and released from jail on July 17, 2011 with no further criminal charges pending.
What is the practical penalty in California for obtaining a spouses credit report for the purpose of monitoring the credit?
Death penalty.
