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Who is responsible for credit card debt when there is no estate?
Wiki User
∙ 15y ago
Generally a person's estate is responsible for the decedent's debts. If there is no estate the creditors are out of luck. They should be notified of the death.
Wiki User
∙ 15y ago
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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.
If surviving spouse is insolvent is she responsible for credit card debt in Arizona a communty property state if her name was not on credit card and she never used credit card?
The estate is primarily responsible. However, a spouse is normally considered to benefit from such debt and can be held responsible.
If you inherit your fathers small business when he dies and and you take over the business are you resposible for his credit card debt?
If the credit card is drawn against the business, that is if it is a business account, then yes. If the card is a personal card, then his estate is responsible for payment of any outstanding debt. Since the business is part of his estate, if in probate it is determined that the business owes the debt, then yes, you or rather the business is responsible.
Does your credit card debt die with you?
No, it does not really die with the individual, but it could. The estate is responsible for settling any debts of the deceased. If the assets of the estate aren't enough to cover them, the debt will be discharged.
Who is responsible for outstanding credit card debt if bank cancels your credit card?
You are because you incurred the debt.
Who is responsible for a deceased person credit card debt in North Carolina?
The estate is responsible for the decedent's credit card debt.
Are you responsible for your dead spouses credit card debt if you own a house together?
Your dead spouse's estate is responsible for the credit card debt. In practice, this may amount to "you are responsible for it."
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.
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.
Who is responsible for your credit card debt after your death in Mississippi?
The estate is responsible for the credit card debts of the deceased. That means before the estate can be settled, all debts have to be cleared. If there is not enough in the estate to cover them, they may not get paid.
If surviving spouse is insolvent is she responsible for credit card debt in Arizona a communty property state if her name was not on credit card and she never used credit card?
The estate is primarily responsible. However, a spouse is normally considered to benefit from such debt and can be held responsible.
Who is responsible for credit card debt of deceased family member is there is no estate or money?
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Are you responsible for your deceased parent's credit card debt?
If the estate has any assets, the estate should pay for the debt before anything is passed on to the heirs. If there are no assets the credit card company will just have to write it off. You are not held responsible unless you co-signed for the card.
Is the spouse responsible for the deceased credit card debt in Illinois----Will they take it out of the estate?
Yes the debt is paid out of the estate. If the spouse was a partner in the debt, they can be responsible. If they had a card in their own name, they may have to pay. Consult a probate attorney in Illinois.
When you die do your children have to pay your credit card off?
The estate is responsible for the debts. Anyone on the credit card would also be liable for the debt.
Who is responsible for credit card debt when the cardholder dies in Ontario?
The estate of the cardholder. Anyone else named on the card, or the spouse, could be held responsible.
If a person has no estate at the time of death who would be responsible for his credit card debt?
Currently I am dealing with estate issues and credit card debts. I am not a lawyer but after talking to many professionals, it seems to me that if their is no estate and no joint credit card holders then the card company will have to write it off.....
