When a parent dies who is responsible for their credit card balance. Can they go after his estate?
Answer:
It will come out of the estate. If there isn't enough money in the estate to cover the bill, the credit card company won't be able to collect all of its money.
his spouse first, then if no spouse it will come from the sale of his estate
Yes,,all debts are paid first when an estate is settled
It will come out of the estate.
All debts have to be paid in full before the heir recieves anything, if he did not have a will, or no one else's name is on any of his assets, everything will go through Probate first.
Responding to Jessi: The credit card company cannot go after his spouse or family members unless that person is named on the account.
No matter what your family status, credit card debt does NOT transfer to anyone else EXCEPT when their is another person named on the account (and then the debt is not transferring -- that person is already liable for the debt).
Not sure if my two "magic links" will stretch this far but they seem very good to everyone with CC and debit questions so here they are:
http://credit-cards.ebookorama.com.
and here http://finance.ebookorama.com
good luck!
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