What if the credit card subscriber dies, what will happen to his/her debt?

what if a credit card holder dies?what will happen to his/her debts on the credit card?will the credit card issuer going to pursue their claims on the balances?or will the debts be terminated already f such incident happens?

What if the credit card subscriber dies, what will happen to his/her debt?

The answer depends on a few factors.

If the debtor is married, they do not live in a community property state, everything is in both of their names (home, car, etc) then the debt dies with the debtor.

If the debtor is married, they do not live in a community property state, the debtor has property in his/her name only, then they may be able to seize that property. The spouse would not be liable.

If the debtor is married and they live in a community property state, the spouse may be liable for the debt.

If the debtor is not married, does not have a will then the estate would be divided up between the creditor, the state and any immediate family.

What if the credit card subscriber dies, what will happen to his/her debt?

They can file a claim against the estate with the probate courts.

What if the credit card subscriber dies, what will happen to his/her debt?

Normally, they will write it off. You can call them and let them know or write %26quot;deceased%26quot; on the bill and have it returned to sender.

What if the credit card subscriber dies, what will happen to his/her debt?

NO, THE DEBT DOES NOT MAGICALLY GO AWAY. THE ESTATE HAS TO PAY ALL OF THE DECEASED%26#039;S DEBT BEFORE ANYTHING ELSE CAN HAPPEN. IF THERE IS A HOUSE INVOLVED, THEN IT MUST BE SOLD TO SATISFY THE DEBTS AND THE REMAINDER CAN THEN BE SHARED BY THE HEIRS.

What if the credit card subscriber dies, what will happen to his/her debt?

The debt is owed by the estate. Once the credit card company learns of the death, they can file a claim against the estate in the probate court and the court will require the estate to pay the debt before distributing any assets.

What if the credit card subscriber dies, what will happen to his/her debt?

If the card holder owes money, then it is a claim against his estate. If the estate is sufficient to cover the debt, then the company can recover it; if not, then the company is effectively out of luck, as the executor of the estate is not personally responsible for the debts of the estate. If there is a surviving spouse, and the debtor lived in a community property state, the company may be able to recover the money owed from the spouse.

What if the credit card subscriber dies, what will happen to his/her debt?

Credit Card debt is assumed by the deceased%26#039;s estate. If the will specifically calls for a disposition of the debt, that will rule. However, as most wills do not include this, the debt will roll over to the estate to be settled by the appropriate probate court. Each state%26#039;s laws regarding who gets the property/debt if a will does not exist or something is not specifically provided in the will are different, however it usually runs something like this -%26gt; spouse then children then grandchildren down the chain. However, if someone does not have children or a spouse thier parents and siblings can become the owner of the propery and/or debt. As I am not an attorney licensed to practice in your state, please do not interpret this as legal advice. I would recommend speaking with a licensed attorney if you are interested in detailed answers that are specific to your state.

What if the credit card subscriber dies, what will happen to his/her debt?

Family memebers are not liable for the debt. If the card-holder dies the issuing-bank will try to collect money from the estate and if there is not enough the heirs might have to sell assets from the estate. If there is still not enough money the bank will write off the debt.

To protect family members from having to sell the estate to cover the liabilitites a good idea will be to get credit insurance. Credit insurance guarantees one will avoid life insurance payment from being used up by debt payments.

What if the credit card subscriber dies, what will happen to his/her debt?

they keep sending bills and expect someone to pay it off. One joke I read awhile ago was about this and after months and months of telling the customer service that she was dead, they asked what her new address was and he gave an address to Heavean . and the operator was satisfied with that.