0
What happens when your estate is zero and you have credit card debt?
Wiki User
∙ 13y ago
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.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
In English Law What happens to credit card debt after the death of The card holder?
The Debt goes to be paid by his estate, if there is no money to pay the debt it just bad luck for the credit card company.
Who is responsible for a deceased person credit card debt in North Carolina?
The estate is responsible for the decedent's credit card debt.
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.
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.
What happens to credit card debt after the death of card holder?
This would depend upon the nature of the card holders' estate, whether they had a will, and the laws of their state of residence.
Would my mother's children be liable for any credit card debt she had at the time of her death?
Your mother's estate is responsible for her credit card debt.
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.
If a relative dies with credit card debt is the estate resposible to pay back the debt?
Yes
If the decease has credit card debt with no dollar value to his estate what happens to the debt?
The estate has to pay all of 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.
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 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.
