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If the Deceased did not have an estate what happens to his credit debt?
Wiki User
∙ 13y ago
The reason and estate is opened is to pay all the debts off 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.
Wiki User
∙ 13y ago
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What happens to credit card debt when a person dies in Florida?
It becomes part of the probate procedure of the deceased's estate.
What happens to husbands credit card debt if he dies?
The deceased's estate is going to be responsible. The spouse can be held as a beneficiary of the costs and by inheriting less from the estate.
Who is responsible for a deceased person credit card debt in North Carolina?
The estate is responsible for the decedent's credit card debt.
If a person dies and there is no estate what happens to credit card debt left by the deceased?
The estate is required 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 of deceased family member is there is no estate or money?
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Who pays the credit-card debt of a deceased person in Ontario Canada?
The estate pays. If nothing in the estate they do not get paid.
Does a daughter need to pay off a deceased mothers credit card debt?
It depends on the country you are in, but in the UK, the first claim on the estate is the revenue (ie tax), then debtors - which would include the credit card debt. That should be paid out of the estate of the deceased.
Estate insolvent cannot pay credit card debt affect on heir's credit history or tier score?
It does not. The debt belongs to the deceased. If the estate cannot settle the account, the credit card company is not going to get paid.
What happens to their credit card debt when a single person dies?
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.
Who pays credit card debt if you die?
The debt will be paid from your estate. If there isn't enough, then the debt is discharged. The debt itself will not pass on to next of kin but a sizable debt might mean none of the deceased's estate does either.
Who pays off the balance of a deceased credit card person?
Typically, the estate of the deceased individual is responsible for paying off any outstanding balances on credit cards. If the deceased person has a joint account holder or a cosigner on the credit card, they may also be responsible for the debt. In some cases, credit card companies may write off the debt if there are no assets in the estate to cover the outstanding balance.
Are adult children responsible for credit card debt of a deceased parent who had no estate and who lived in the state of Pennsylvania?
No.
