Credit Card Debt Responsibility After Death

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Credit Card Debt Responsibility After Death – This is a place for the community to provide tips and advice on Credit Card Debt Responsibility After Death. This topic was created by Harold Hensel and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

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Tip 1
Credit Card Debt and Death | Nolo.com More
Published: 9 years, 3 month(s) ago by Steven Foat | permalink
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Learn what happens to credit card debt when a person dies.

For further reading: http://www.nolo.com/legal-encyclopedia/credit-card-debt-death.html ^[1]

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Tip 2
Debt After Death: 10 Things You Need to Know | Credit.com More
Published: 9 years, 3 month(s) ago by Mayuran Vallipuram | permalink
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When a loved one dies, who takes responsibility for the deceased's credit card debt? In some cases, no one. In others, the answer may surprise you.

For further reading: http://blog.credit.com/2013/10/debt-after-death-10-things-you-need-to-know-69745/ ^[2]

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Tip 3
Can you inherit your dead parent's debts? More
Published: 9 years, 3 month(s) ago by Jennifer Connett | permalink
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The answer is usually no - but not always. It's complicated: Much depends on state law and who exactly is listed on accounts. And even if there is no legal obligation, those debts may wipe out your inheritance.
Tags: adult children, deceased parent, estate, taxes, medical debt, mortgage debt, credit card debt, American Academy of Estate Planning Attorneys, Roger Levine, Mari Adam, inheritance, estate tax, Stuart Ebby, Wells Fargo, IRS, 401(k), IRA

For further reading: http://money.cnn.com/2014/06/19/pf/inherited-debt-adult-children/ ^[3]

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Tip 4
Who is responsible for credit card debt after a death? More
Published: 9 years, 3 month(s) ago by Dwayne Holloway | permalink
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Dear Liz: My mother, who is widowed, has credit card debt. When she dies, are my sister and I responsible for that debt? There is no estate, but she does have a small amount of life insurance that mainly would go toward her funeral expenses and fixing things in her home to get it ready for sale.
Tags: credit card debt, credit card fraud small amount, debit card fraud

For further reading: http://www.latimes.com/business/la-fi-montalk-20141109-column.html ^[4]

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Tip 5
How To Cope With Credit Card Bills After A Family Member Dies More
Published: 9 years, 3 month(s) ago by Nils Wendels | permalink
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Though banks don’t want to encourage the practice, lawyers say clients have had considerable success negotiating down credit card debts after a family member passes away.
Tags: Business,Investing,Personal Finance,Retirement,Estate Planning

For further reading: http://www.forbes.com/sites/deborahljacobs/2014/06/18/how-to-cope-with-credit-card-bills-after-a-family-member-dies/ ^[5]

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Category: Fun | 9 years, 3 month(s) ago

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Contributors

Steven Foat, Jennifer Connett, Dwayne Holloway, Mayuran Vallipuram, Nils Wendels

References & Citations

1. http://www.nolo.com/legal-encyclopedia/credit-card-debt-death.html

2. http://blog.credit.com/2013/10/debt-after-death-10-things-you-need-to-know-69745/

3. http://money.cnn.com/2014/06/19/pf/inherited-debt-adult-children/

4. http://www.latimes.com/business/la-fi-montalk-20141109-column.html

5. http://www.forbes.com/sites/deborahljacobs/2014/06/18/how-to-cope-with-credit-card-bills-after-a-family-member-dies/