What happens to a credit card debt of a deceased person wth zero assets?
446062
If somebody cosigned on the credit card, they may be liable, otherwise no one is liable.
346816
the attorneys will let you know.\nit takes years,especially if it is simple exposure and how massive of exposure.\nmy dad died of mesothelioma,so depending on what is being filed and extent of exposure it may be waiting for cause and proof from death also.\nthere are so many in bank ruptcey that it will take awhile for the judges to distribute settlements from the assets of the companies also.\nif it is going to the estate then the executor should have the information,usually they will only speak to this person also
603981
Since the loan is not in YOUR name, it has no effect on YOUR credit.  If the LOAN is in the "the estate of __________", the bank KNOWS the person is deceased, even if they don't realize it.  It may be the DEED is in that name, which is a whole different animal.\n\nWith a credit score of 780, I wouldn't worry about getting the loan in your name.. Just pay it off and start putting that payment into savings where it will earn YOU some interest (instead of you paying it to the lender).  You will benefit from paying it off by having 1). no mortgage payment and 2). full equity in the house.\n\nGood for you for wanting to get this paid off!  Sounds like you have pretty good financial sense.
546387
Ooooohh ... that's a really sticky situation.  My guess is that you're going to have some big family problems with this one.  Have you told the executor that the debt was forgiven?  Do you have it in writing?  If you don't have it in writing that the grandfather refused to accept the money and the debt was forgiven, you're going to have a really hard time proving anything.  I'd retain a lawyer if you're going to fight it.\n\nAlso, you should consider if the damages to the family relationships are worth the $60K.  Some family feuds can go on for years and years.
320708
If the person has a house, life insurance or assets the debts can be paid from them. If the person is married the debts may be transferred to the spouse (depending on what they are). If the person isn't married, has no money or assets they probably won't be paid but if the people and places owed money have their insurance they may be able to collect from them.
1003840
Not unless the debt was co-owned by you and your mom. If the estate is in probate and you are the personal representative of the estate, you are protected by the court from that kind of action. You do not own her debt. Her creditors must address their concerns to the estate, not you personally.
174169
I think you need to ask a lawyer in the jurisdiction where you live. I suspect your brothers portion of the mortage will still be owed to the mortgage company.\n\nDoes he have a will? That can make a difference.\n\nThe idea that a person's debts die with them may not be true. The debts may become a part of their estate along with any assets.
64213
It's doubtful that you will find something like that on the internet. I have never heard of the "at least one dollar" and I have lost both parents. Your best bet is to contact the executor of the will.
96020
Yes, it will be removed from your credit report after the statute of limitiations expires, but even if you die they will get the money from your estate.
717633
$0, I use to have over $30,000.oo in credit card debt, I paid them off over the course of 5 years and haven't charged since.
990972
There are several situations which you should be aware of. Number one - if the card was JOINT, then naturally, the obligation to pay off will automatically transalte to the joint card holder. Number two - if it is not, then it will fall into the relm of the estate. Typically, ongoing charges, that happened before one passes away, will be paid from the the estate. It is usually managed by the estate trustee of some sort. When the estate is being probated, certain expense pay outs are allowed including credit card debt (within reasonable amounts, of course), but will be pro-rated fort he final release of funds to the estate beneficiaries. In most instances, at the end of the ordeal, the beneficiaries will most likely have to deal with very little of it if anything. This is a very general, crude explanation as these things may get complicated. In a lot of cases, an estate attorney will be involved who will be looking after ALL of that and charging a hefty fee for that...
1157897
well if the bill is in your dad's name and he is deceased then you are not responsible to pay it.
816391
If it's in your name and she doesn't pay, it will affect your credit negatively.
327574
Contact the company directly and give them supporting documents to prove it is only one and it is too old. Ex: cancelled checks to show payment. And in the future after repaying an old or even a current debt, always ask them to send you a letter showing a zero balance. That way when there is confusion in the future you have proof it was paid and the date.
368277
depends. probate lawer will make sure all deceased bills are paid. is there a will? other benefactors? not enough info to answer.
761763
From what I understand generally about estate law, your parents' debts should not roll over to you and your siblings when they pass away. However, if you or your siblings are co-owners or partners with your parents in any business enterprise or are gurantors to any loans taken by your parents, then yes, you may become liable to their debts when they pass away.\n\nIn short, you will not be liable for their liabilities unless you are somehow a party to the liability to begin with.
44758
The Executor or personal representative of the estate of the deceased person is required to file the final income tax return (and can collect any refund due).\n\nIf there is no estate probated, the surviving spouse may file the return.\n\nAny refund due can be claimed with Form 1310