Do You Have To Pay Deceased Credit Cards

How do you handle debt after death. When the heart is heavy with grief its hard to focus on these things.

How To Cancel Credit Cards After Someone Is Deceased 12 Steps

do you have to pay deceased credit cards

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Keep a copy for your records and mail it so that you have proof of when it was sent.

Do you have to pay deceased credit cards. In most cases you will not be responsible to pay off your deceased spouses debts. For joint credit cards you should notify the credit card company that a joint cardholder has died. Are you as a spouse responsible for credit card debt of the deceased spouse.

How do you cancel credit cards after their death. If representatives ask about payment refer them to the executor. If you start paying for the credit card debt of a deceased spouse even though you might not legally have to you will automatically assume the debt.

As a general rule no one else is obligated to pay the debt of a person who has died. They obviously dont want this to happen so some of them may reach out to you especially if the deceased was your spouse or parent. Cut the cards up immediately and mail them to the credit card company with a.

But survivors also need to know that unless they are signatory on the card they have no obligation to pay the deceaseds credit card debt. Your loved ones credit card companies know that if you dont pay them they may not receive payment at all. All credit card accounts should be closed immediately after the primary cardholder dies.

There are some exceptions and the exceptions vary by state. Include a note with the deceaseds name and credit card account number. Act quickly to avoid interest and finance charges.

But real life situations are more complicated. If you discover credit card debt on your deceased parents cards the last thing on earth you want to do is use them. Talk to a lawyer know your rights and consider your option.

Whats more lenders can cause confusion and panic when they tell friends and family to use their own money to pay off somebody elses debts. Never assume that you must pay for all of your deceased spouses credit card debts. Sorting through financial matters after the death of a spouse can be a challenging experience.

You should notify the credit card companies by phone and follow up by mail. If theres not enough money in the deceased spouses estate to pay off his or her credit card debt the credit card company usually writes off the debt. The simplest answer is that credit card debt is the borrowers responsibilitynot anybody elsesespecially when borrowing individually.

In some cases bequests cannot be distributed because the executors obligation is to pay unsecured debt first. Survivors need to understand the obligations of the executor who gets paid first and why. If a spouse dies and a credit card company from a non joint account tries to force the sale of a family home to pay off a debt the surviving spouse should contact a lawyer.

Find out where to send a certified copy of the death certificate.

How To Cancel Credit Cards After Someone Is Deceased 12 Steps