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What happens to their credit card debt when a single person dies?
Wiki User
∙ 14y ago
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.
Wiki User
∙ 14y ago
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When are you in credit card debt?
A person is in credit card debt when they have charges on their credit card and can not pay them. A person can make charges on a credit card and make payments at a later date. When a person charges on their credit card, the charge is now a debt that must be paid.
When someone goes to prison what happens to his credit card debt?
The person's credit card debt will remain as unpaid unless they pay it. Going to prison does not cancel any type of debts incurred.
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 if person uses deceased persons credit cards?
The use of a deceased person's credit card would constitute credit card fraud. Unlawful use of a credit card is a criminal offense.
Is unauthorised person liable to pay credit card bill if he has used someone else credit card with his consent?
Yes, unless the credit card holder told the person that it was a gift.
If you apply for a credit card do you then have an option to accept or decline if you get approved or do you have to cancel the card if you decide not to take it?
Applying for a credit card does not mean that a person has to us it. It is advisable that the person does not cancel the card, as this actually is harmful to credit scores, while having an unused credit card can be beneficial for credit scores.
How can a person get a credit card with no income?
They can't ! A credit card is issued in recognition that the card-holder is able to repay any balance owing. If a person has no regular income - they are extremely unlikely to be granted a credit card !
If you did not pay your credit card what happens?
the credit card company sends people to get their money i would want to pay them.
How do credit card companies use a person's credit report...?
When a person applies for a car loan, mortgage or credit card, the lender determines if lending money to the consumer will be a risk. Credit scores are one way to help credit card companies make the decision to issue credit. To determine if that person should be given a loan or credit card (apex)
What happens when the credit card on file with a company you owe money to is invalid?
They say that I am in contract to pay for everything. They have my credit card and that's it. What can happen if the credit card on file is invalid?
Can you have a second person on a credit card?
It depends what you mean by a second person. Typically on and existing credit card you can add people who are authorized to use the card. You can also request for credit under more than one person's name.
How do credit card companies use a persons credit report?
To determine if that person should be given a loan or credit card
