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The person's estate pays for all outstanding debts.
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Who is responsible for credit card debt when a person dies in West Virginia?
the deceased' inheiritance
Is a cosigner on a credit card responsible after the primary dies?
Yes.
If a credit card holder has a judgment and dies who is responsible?
No one. The person left is not responsible for the debt. The credit cards want people to think that the family owes for the deceased debt, but they don't.
What happens to a joint credit card when one account holder dies?
Both owners of a joint credit card are equally responsible for paying off the balance on the card. When one dies the survivor is responsible for the full balance.
Who is responsible for credit card debt when a person dies in New York State?
If the person left a Will then Probating the Will will pay all debts the person has left behind and what is left in the Estate (is called 'residue) and this is what is left for the Heirs in the Will. If the person dies without a Will whatever they have is sold and debts paid off, but it's not up to next of kin (unless their name is on the credit card application) to pay the debt. Example: If a husband passes away and the husband and wife's name is on the Credit Card (it usually is) then the wife is responsible for the Credit Card debt.
Who is responsible for credit card debt if your spouse dies and the credit card is in his name only?
It all depends on what state you live in. Contact the credit card companies they can tell you
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.
Who is responsible for debt on a credit card after divorce and after person who made the debt dies?
Review the divorce decree. It typically specifies who is responsible for the debts of the couple. Their estate has to resolve the debt if it was assigned to them.
If a relative dies and you were paying their credit card debt for them and you are an authorized user of that card are you then responsible for paying off that card debt balance?
No.
Who is responsible for credit card debt when a person dies?
Credit cards are the responsibility of the estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
If there is no assets who's responsible for credit card debt?
If a person dies and owes money on credit cards, the person who issued the credit cards loses. The merchant still gets his money. (The credit card companies make money by charging merchants a small fee on each transaction. They make interest. They lose money on deadbeats and deaths.)
What happens if a person dies leaving credit card debts and they have placed all their property into a non-revokeable trust?
The Trustee of the Trust is responsible for paying the debt out of the trust funds.
