Can a surviving spouse be responsible for credit card debt?
Can a surviving spouse be responsible for credit card debt?
This is not necessarily true, although some states do hold a surviving spouse accountable for credit card debt. Unsecured credit card debt does not usually pass to heirs, as secured debt often does. Again, there are a few exceptions such as joint accounts and, sometimes, medical bills.
Who is responsible for paying off credit card debt after death?
After someone has passed, their estate is responsible for paying off any debts owed, including those from credit cards. Relatives typically aren’t responsible for using their own money to pay off credit card debt after death.
What happens to unsecured credit card debt for seniors?
Unsecured credit card debt does not usually pass to heirs, as secured debt often does. Again, there are a few exceptions such as joint accounts and, sometimes, medical bills. It is important that seniors who have significant debt, and their loved ones, know the applicable laws where they live.
What to do when a joint credit card holder dies?
Act quickly to avoid interest and finance charges. For joint credit cards, you should notify the credit card company that a joint cardholder has died. You should notify the credit card companies by phone, and follow up by mail. First, call the credit card issuer and ask for the department for deceased accounts.
This is not necessarily true, although some states do hold a surviving spouse accountable for credit card debt. Unsecured credit card debt does not usually pass to heirs, as secured debt often does. Again, there are a few exceptions such as joint accounts and, sometimes, medical bills.
What happens if I fail to pay my spouses credit card debt?
But if you fail to pay the debt and the credit card company comes after your ex-spouse, then your ex-spouse can sue you for violating the divorce decree and seek reimbursement for any damages suffered. Need professional help? Start here. Please select…
After someone has passed, their estate is responsible for paying off any debts owed, including those from credit cards. Relatives typically aren’t responsible for using their own money to pay off credit card debt after death.
Can a judge make you liable for credit card debt?
Even if you weren’t otherwise liable for a credit card debt, a judge may still assign the obligation to you in a divorce proceeding.