Credit Tips: Credit Card Debt Pay Off Policy

Posted On: December 1, 2005

Author: Rick
Posted: Wed Jun 30, 2004 4:51 pm
Post subject: Credit Card Debt Pay Off Policy
8/7/2002 12:20 am CDT

What is the policy for paying off credit card debt after death, does the estate pay it off or is it just written off.

Author: Jim French
Posted: Wed Jun 30, 2004 4:51 pm
Post subject: Credit Card Debt Pay Off Policy

8/7/2002 4:04 pm CDT

I think the general rule of thumb is that you become ‘responsible’ for all credit cards and bills if you become the controller or inheriter of the estate. You do have the option I believe to abandon the estate. If you do so the state would then take possesion. I’m not sure of the ramifications of allowing this to happen, I would speak to an estate atorney it would be well worth the cost.

Author: mouse
Posted: Wed Jun 30, 2004 4:53 pm
Post subject: Credit Card Debt Pay Off Policy

8/7/2002 9:42 pm CDT

Send a copy of the “DEATH CERTIFICATE” and request closure of ALL accounts. They will write it off.

BUT if you are a “JOINT” cardholder, YOU have to pay.