Credit Card Debt Responsibility After Death

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Tip 1 - Credit Card Debt and Death | Nolo.com

Published: 9 years, 3 month(s) ago | Submitted by Steven Foat | permalink

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]

Tip 2 - Debt After Death: 10 Things You Need to Know | Credit.com

Published: 9 years, 3 month(s) ago | Submitted by Mayuran Vallipuram | permalink

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]

Tip 3 - Can you inherit your dead parent's debts?

Published: 9 years, 3 month(s) ago | Submitted by Jennifer Connett | permalink

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]

Tip 4 - Who is responsible for credit card debt after a death?

Published: 9 years, 3 month(s) ago | Submitted by Dwayne Holloway | permalink

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]

Tip 5 - How To Cope With Credit Card Bills After A Family Member Dies

Published: 9 years, 3 month(s) ago | Submitted by Nils Wendels | permalink

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]