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If person dies with debt, the debt does not die with them and their creditors have the right to be repaid from the deceased's estate. The executors of the estate need to be aware of any debts in order that they can deal with them. If there is no estate, or if the debts are relatively small, creditors may well write off the debt. If any debts are in joint names, the surviving partner will remain liable for the debt.
What else can I help you with?
What if person uses deceased persons credit cards?
The use of a deceased person's credit card would constitute credit card fraud. Unlawful use of a credit card is a criminal offense.
Can you transfer your credit card balance to another person?
No, you cannot transfer your credit card balance to another person.
Is it possible for you to transfer a credit card balance to another person?
No, it is not possible to transfer a credit card balance to another person.
In the case of a living trust what are credit card companies' options if the family of a deceased person does not respond to inquiries about paying off the deceased's balance?
The credit card compaines will hire someone to harass the family to get the money, or they will hire a lawyer and go to court. They don't care.
Who is responsible for a deceased person credit card?
Bank's Insurance 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.
Can a surviving spouse use her deceased husbands credit card?
Only if she is also on the account. If not, then absolutely not. You can get yourself in a heap of trouble by using the credit card of a deceased person. You must notify the credit card company of the death and close that account.
Can an adult child legally use the credit card of a deceased parent in the state of Georgia?
No, an adult child cannot legally use the credit card of a deceased parent in the state of Georgia without authorization. Unauthorized use of a deceased person's credit card could be considered fraud and may have legal consequences.
Can the bank you have a second mortgage with and a credit card with attach that credit card to your second mortgage after a person is deceased?
Once a person is deceased all debt is completely erased from that person's credit. If they own a home and do not have a will nor a co-signer of the home loan the government will take over the ownership of that home. If they have credit card debt, the debt is forgiven and no longer in existense.
Who is responsible for credit card debt when a person dies in West Virginia?
the deceased' inheiritance
What happens to a bank loan when a person dies?
If the loan is secured, then the collateral is returned to the bank. If the loan is unsecured, like a credit card, then the bank submits the balance to the estate of the deceased.
How can a person get a credit card with no income?
They can't ! A credit card is issued in recognition that the card-holder is able to repay any balance owing. If a person has no regular income - they are extremely unlikely to be granted a credit card !
