What happen to someone who die, and leave a big credit card balance?
Who is responsible for that debt, and do you think the credit card companies should stop forcing us to accept their line of credit ?
Hi , good question . I would think the spouse is left with the debt to pay if there is a spouse .. Credit cards reel ya in any way they can ,plus they are so convinent ,however they shouldn't force their line of credit . Also ,a spouse shouldn't be left with a credit card debt if they aren't the one using it ... But that is the way it works
Hmm... really a good and thoughtful question...It makes me go mad....Thinking.....Trying to figure out an answer. Thanks for raising an interesting conversation!
Great question. Financial counselor and talk radio host Dave Ramsey often says "What you own stands good for what you owe.”
This means that the estate (all that the person owned - their assets, their property, etc) will be used to pay off the outstanding debt before it is divided up amongst other heirs.
For instance, if a husband has a balance on his personal credit card (and his wife was not a co-signer on it), and the husband passes away, the surviving wife does not take on his debt. Rather, the assets that are considered his will be used to pay off the debt, such as up to 50% of any cash in the bank and 50% of the sale value of the house.
But it's important to understand that debt is not transferable. You can't inherit a debt from your deceased spouse or parent. And a deceased relative's credit standing will not affect your own credit standing. Debt collectors may try to convince you otherwise, but you're not liable for a debt you did not incur. The only way you can incur debt is if you signed for it, be that through your personal credit account or an account you co-signed for.
Certainly in instances where the husband and wife were co-signers on the same credit card, or where the husband and wife share ownership of a house together, things can get complicated. It's always a good idea to talk with a competent estate attorney who can sort through the issues with you.
Bottom line, don't pay for anything you're not convinced you're responsible for. Collectors will try to collect from anyone, so stand firm until you know what the absolute right answer is.
Good question, basically, when a person dies with a big credit card debt, his overall possessions and properties will be used to pay for the said debt. After that, if there is still much to be paid, it will then be divided among heirs like his/her spouse and children.
by brown3628 14 years ago
where do i find my credit card balance and advailable credit?
by Rebecca Graf 14 years ago
What questions would you like to see answered about credit card debt?
by sandra rinck 15 years ago
Let me start off with roolllff! Everytime I look at a bill I get sick, everytime I need to bust out a credit card just to make it to the next month I wanna puke. Trying to get along in a busting economy is making me sick. I do need advise, good advise in a couple of areas,...
by Cliff Beaver 11 years ago
What is the best way to pay off credit card debt?I don't personally have any major credit card debt, and the debt that I do have is under control. However, I know some people who have let their credit cards get out of hand and I'm sure there are people searching for ways to pay it off. So I ask...
by Rael Casalme 11 years ago
If I already paid all my outstanding balance in my credit card?Can I still deposit money on it?
by blueorpurple 12 years ago
Credit card or cash! what should I use more?
Copyright © 2024 The Arena Media Brands, LLC and respective content providers on this website. HubPages® is a registered trademark of The Arena Platform, Inc. Other product and company names shown may be trademarks of their respective owners. The Arena Media Brands, LLC and respective content providers to this website may receive compensation for some links to products and services on this website.
Copyright © 2024 Maven Media Brands, LLC and respective owners.
As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.
For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://corp.maven.io/privacy-policy
Show DetailsNecessary | |
---|---|
HubPages Device ID | This is used to identify particular browsers or devices when the access the service, and is used for security reasons. |
Login | This is necessary to sign in to the HubPages Service. |
Google Recaptcha | This is used to prevent bots and spam. (Privacy Policy) |
Akismet | This is used to detect comment spam. (Privacy Policy) |
HubPages Google Analytics | This is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy) |
HubPages Traffic Pixel | This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized. |
Amazon Web Services | This is a cloud services platform that we used to host our service. (Privacy Policy) |
Cloudflare | This is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy) |
Google Hosted Libraries | Javascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy) |
Features | |
---|---|
Google Custom Search | This is feature allows you to search the site. (Privacy Policy) |
Google Maps | Some articles have Google Maps embedded in them. (Privacy Policy) |
Google Charts | This is used to display charts and graphs on articles and the author center. (Privacy Policy) |
Google AdSense Host API | This service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy) |
Google YouTube | Some articles have YouTube videos embedded in them. (Privacy Policy) |
Vimeo | Some articles have Vimeo videos embedded in them. (Privacy Policy) |
Paypal | This is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy) |
Facebook Login | You can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy) |
Maven | This supports the Maven widget and search functionality. (Privacy Policy) |
Marketing | |
---|---|
Google AdSense | This is an ad network. (Privacy Policy) |
Google DoubleClick | Google provides ad serving technology and runs an ad network. (Privacy Policy) |
Index Exchange | This is an ad network. (Privacy Policy) |
Sovrn | This is an ad network. (Privacy Policy) |
Facebook Ads | This is an ad network. (Privacy Policy) |
Amazon Unified Ad Marketplace | This is an ad network. (Privacy Policy) |
AppNexus | This is an ad network. (Privacy Policy) |
Openx | This is an ad network. (Privacy Policy) |
Rubicon Project | This is an ad network. (Privacy Policy) |
TripleLift | This is an ad network. (Privacy Policy) |
Say Media | We partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy) |
Remarketing Pixels | We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites. |
Conversion Tracking Pixels | We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service. |
Statistics | |
---|---|
Author Google Analytics | This is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy) |
Comscore | ComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy) |
Amazon Tracking Pixel | Some articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy) |
Clicksco | This is a data management platform studying reader behavior (Privacy Policy) |