Father Passed Away Credit Card Debt

Secured debt and unsecured debt.

Father passed away credit card debt. All assets would then go in a trust for his nursing home care. My mother wasn t aware of it. My father recently passed away and had some considerable amount of debt on his credit cards. Before your father passes away make sure to know about his credit card debts and other financial information to avoid more distress.

In practice credit card companies won t generally come after you. Credit cards on the other hand are unsecured debts when the cardholder dies there is nothing securing the. My friend was able to get out of several thousand dollars of credit card debt by telling chase that the husband passed away and i think had to send a death certificate. The state that is happening in is new jersey.

These accounts have goods attached to them that can be sold or returned in order to pay back the loans. Dear debt adviser my dad is 83 and has two or three. Dad recently passed away. Balance on the card is approx 10k.

A debt collector can contact a deceased person s spouse parents if the deceased person is a minor guardian executor or administrator to discuss. Balance on the card is approx 10k. He had one credit card in his name with mom as an authorized user. House and credit card were in the deceased s name only.

By sil chicago illinois usa my father passed away quite suddenly and left behind quite a bit of credit card debt and a equity mortgage. He had one credit card in his name with mom as an authorized user. He has no assets whatsoever. In terms of monetary assets he doesn t have any.

Dear steve dad recently passed away. Right now the credit card company is asking us to pay off his debt otherwise it will go to his. They live in wa state which is generally a community property state however they legally disolved the community property agreement and all assets were put in moms name months ago in case she passed first. All assets were put in mom s name months ago in case she passed first.

If someone else like you or your mother cosigned for the card then the debt becomes the surviving cosigner s responsibility. I sent a copy of his death certificate to all his creditors and told them that he left no assets behind. All assets are in both of their names. Secured debts are loans like a mortgage or a car loan.

That means no other individual is responsible for paying off remaining charges. If your father applied for credit in his name only then the credit card debt is his personal debt.