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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.
Who is responsible for a deceased person credit card debt in North Carolina?
The estate is responsible for the decedent's credit card debt.
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.
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.
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
What are the estate laws in California concerning credit card debt?
Credit card debts are one of the primary reasons someone should open an estate. The estate has to pay off the debts. If the estate doesn't have the assets to do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
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 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.....
Who's responsible for credit card debt after the card holder dies?
The estate covers the bill. If the spouse is still alive, he/she will probably have to cover the bill with the proceeds of the estate. If there aren't enough assets to cover the debt, and the credit account was not joint with anyone else, the credit card company will have to pay it out of their own pocket. Credit card companies cannot force the family to pay the 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."
Who pays the credit-card debt of a deceased person in Ontario Canada?
The estate pays. If nothing in the estate they do not get paid.
