If the account holder was married and resided in a community property state, the surviving spouse might be responsible. Debts, including credit cards, mortgages, and taxes of a deceased person are handled by their estate, pursuant to state probate laws and federal tax code. The decedent's will (if any) is filed; if no will is found, then the state probate laws of "intestacy" apply. In either case, the court issues a document opening an estate and appointing an executor (or administrator). The executor is responsible for a complete inventory and evaluation of all assets, locating and identifying debts and claims, filing the decedent's and estate's tax returns, and proposes a dispensation of the assets. The court will rule on the dispensation and close the estate when it has a full accounting from the executor. All of the beneficiaries are entitled to a copy of the records and dispensation.
ia an additional credit card holder liable for the whole debt of the credit card account
Interest does not accrue on credit card debt after the card holder is deceased. It can occur however, if the spouse is on the account.
If you have a card with your name on it usually you are considered a joint account holder and are responsible for the debt incurred on that account. If a consumer is listed as an authorized user (they do not have a card with their name) he or she is not responsible for the debt.
Illinois is not a community property state, therefore a spouse who is not a joint account holder is not responsible for the credit card debt of the other spouse.
No you must close the account.
No. The card holder is responsible for all debt on the credit they extended to him. (You may be responsible to the credit card holder for the debt he incurred for you, if that was your agreement).
The person(s) named as the account holder. If the account was held jointly then the surviving account holder is responsible for the debt. If the decedent was the sole account holder the debt becomes a part of his or her estate and is handled according to probate laws.
Depends on what "Type" of Credit Holder you are. Here is how that will go: If you are what is known as an authorized user on the account. (i.e. - The Primary account holder has given you permission to make charges on the account), the answer is No. The primary account holder is responsible for any charges he/she has allowed you to make on the account. If you are a Secondary account holder (i.e. -your name was put on the account APPLICATION at the time the card was applied for), then your answer is YES. If the Primary account holder defaults on the account, then the credit card company will turn to try and collect from the Secondary account holder. BEWARE of becoming a secondary holder on anything that has to do with credit. If you know that the Primary holder may default, you could get stuck with a huge amount of debt on your hands, and if you can't pay, your nice credit score of 783 could very quickly go down the drain to 535 or lower.
Nothing, other than your obligation to repay the person. Credit card debt belongs to the person who has the account. Authorized users and second card holders are not liable for the debt other than to the account holder.
An authorized user on a credit card can be responsible on an account in which the primary card holder passes. The creditor looks at the situation as the authorized card holder was able to make purchases with the account, and should be held liable, even in the event of the primary's death.
If the surviving spouse was not an account holder then he or she is not responsible for repayment of the debt. FYI, authorized users are likewise not legally responsible for credit card debt as it is assumed the AU has no control over how the account is handled.
If the cardholder has an estate, the credit card company can pursue that. In practice they don't really do that. If the account is a joint account, the other account holder becomes wholly responsible for the debt. Otherwise the bank eats the money.