Thursday, January 31, 2013


When a person dies, the last thing the relatives of want to think it is repay credit card debt.However, creditors must be informed so that they stop interest on the outstanding debt and the debtor's executor must determine how to use the funds from the estate to repay the credit card and other debts the deceased had left behind.

Marital responsibility
If you and your spouse have joint credit cards, debt liability passes to your spouse after your death. In addition, if you live in a community property state, your spouse's debts end may consider your property if debts he incurred during your marriage. 2011, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin are states considered community property.
Liability of the heirs
Spouses, children and other heirs are not responsible for payments by credit card debtor an end except for marital obligations listed above. Creditors can not demand payment of these people, and it does not affect the credit of an heir if she does not pay the credit card bill the debtor. It is illegal for creditors to tell heirs that they have a legal obligation to pay the debt, such as debt collectors can not lie to debtors in an attempt to collect a debt.

Debtor's property
2011, the executor of an estate must use estate assets to settle debts. However, the holder of the estate must prioritize the debts of the estate, if there is not enough money in the estate to pay all debts after the liquidation of the property, the owner of the estate to pay debts the highest priority, and let go of the other debts. The executor is responsible for communicating with creditors to inform them of the situation.