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If a relative dies with credit card debt is the estate resposible to pay back the debt?
Wiki User
∙ 15y ago
Yes
Wiki User
∙ 15y ago
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If a deceased person receives a letter for back taxes what should his or her relative do?
Pass it to the Executor of the estate. It has to be paid, if there is enough money in the estate, before making any bequests.
Would the estate pay back a loan from a loan that was a line of credit on a house that was given to someone else before the person died?
Yes, the estate has to resolve all debts. The property cannot be transferred while subject to a lien from a line of credit.
In state of new york if the surviving spouse is additional user on a credit card of the deceased will the surviving spouse need to pay the debt?
No, an authorized user has no obligation to pay back the debt and the credit card company cannot make you pay the debt. They can request payment from the estate if there is an estate left.
Borrowing money and now they are deceased to you have to pay back the estate.?
You still owed the money. The executor can ask you to pay back the loan. They can also credit it to any inheritence you may receive.
What happens to credit card debt when the cardholder dies but wasn't the one that used the card?
The estate is responsible for the debt. They will have to pay it off before closing the estate. They have the ability to try and get the money/goods back from the person that spent it.
My brother dies in Texas and has no assets am I responsible for his credit cards and other personal debts?
Your brother's estate is responsible for payment of his debts. If there is no estate then his creditors are out of luck. You could send any bills back along with a copy of his death certificate.
Do families have to pay back Medicare and Medicaid for a deceased relative?
No. However, for Medicaid, the State may file a lien on real property and/or claim on the deceased recipient's estate to recover assistance provided.
Can a credit card company go after the estate of someone whose only income is social security?
If the estate has any assets, they can certainly apply to get their money back. They can place a claim with the executor. The executor is responsible for clearing any debt before distributing assets.
Do you have to pay taxes on the 2009 first time home buyer tax credit?
Yes! Real estate taxes are payable to your local tax authority. Whatever you get back on your tax return at the end of the year as "credit" depends on your income level. After a certain income level... there is no "first time home buyer" credit.
Which banks are good for Back to back letters of credit?
which bank in Pakistan are working on back to back letter of credit?
How do you distribute if one heir pays cash in to the estate?
It depends on why the heir paid cash to the estate. If it was a loan to the estate, it should be paid back first. If it was to pay the estate back for a loan, it is divided up like the rest of the assets.
My sister has died a year after inheriting your mothers estate does this form part of her estate or will it go back to your mothers estate?
The property is now part of your sister's estate.
