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Yahoo Answers! Credit Cards Discuss who's liable for paying a dead relatives credit card bill ?? in the Yahoo Answers! News and Synergy forums; Jusy want to know who is responsible for paying bills when a person dies....
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Old 10-13-2007, 08:34 PM   #1
wshazbot62
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who's liable for paying a dead relatives credit card bill ??

Jusy want to know who is responsible for paying bills when a person dies.
 
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Old 10-13-2007, 08:34 PM   #2
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no one.
 
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Old 10-13-2007, 08:36 PM   #3
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The estate
 
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Old 10-13-2007, 08:36 PM   #4
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To my understanding the spouse is responsible. Or possibly that persons insurance may cover the bills. Although, in certain/most situations the lenders will write-off the bill.
 
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Old 10-13-2007, 08:36 PM   #5
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The money would come from the settlement of the estate assuming the dead persons estate had sufficient assets to cover it and all other debts. If not sufficient assets then the executors would need to negotiate with the creditors to apportion the assets to each debt.

The glitch is if that credit card account was jointly held with another person, or someone co-signed for that person. In that event the Joint credit card holder or co-signor would be responsible for the debt.

In the stone ages, debt used to follow the heirs, but that is no longer practiced in the west to my knowledge.
 
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