Sunday, July 11th, 2010
Who is responsible for credit card debt if somebody dies? Or does the company eat it?
Brad asked:
Say somebody has X amount of credit card debt, then they die but still have that debt to the credit card company outstanding, what happens? Does the company have to write it off as bad debt or ? Perhaps the company can hit up that person’s estate. But let me pose another question then – what if that person’s estate does not have enough money to cover that credit card debt.
Say somebody has X amount of credit card debt, then they die but still have that debt to the credit card company outstanding, what happens? Does the company have to write it off as bad debt or ? Perhaps the company can hit up that person’s estate. But let me pose another question then – what if that person’s estate does not have enough money to cover that credit card debt.
July 13th, 2010 at 2:43 am
they can try the estate, if their is not enough to cover it, they eat it.