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.
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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.
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#1 by frank s - November 9th, 2009 at 22:33
they can try the estate, if their is not enough to cover it, they eat it.
#2 by Hot, hot mama! - November 12th, 2009 at 15:44
The person’s estate or surviving spouse, otherwise, they have to eat it.
Most credit agencies have a life insurance policy on their lenders now and don’t persue the matter if you send a copy of the death certificate in to them.
#3 by dale_jdc - November 13th, 2009 at 16:07
Yes, the credit card company can go to the estate of the deceased to collect. If there isn’t enough there to cover it, then the cc company eats it.
#4 by Chelsea.Cutie - November 15th, 2009 at 21:23
well if they have money in an account, it goes to the credit card company. otherwise, the credit card company is sh*t out of luck
please help me with ym question.;_ylv=3?qid=20080504164056AA0VsRu
#5 by Granny - November 18th, 2009 at 04:59
If there is a living spouse, then the spouse would be obligated. If not, just write ‘DECEASED’ on the bill and send it. Unless the deceased left instructions to pay the debts out of a life insurance policy.
#6 by Jennifer - November 21st, 2009 at 05:21
Hi,
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