Helpful Resources

Community

Popular Discussions

Creditmagic Twitter

Credit on Facebook

Home

Credit Forum

Debt management

credit card

Post reply Start a topic

Author

Message

Options

	Print this topic
	Invite a friend
	Email this topic

Bookmark online

	Add to del.icio.us
	Add to YahooMyWeb

luvnet217

Joined: 02 Feb 2009
luvnet217's page
Posts: 12

551 Magic Points

Subject: credit card

Thu Feb 12, 2009 2:12 pm

If you could not paid your credit card until you died.what are the other way of company of credit card will do if the credit card owner was died.do they need to force his family to pay.do they have authority to do that?

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 4285

127 Magic Points

Thu Feb 12, 2009 7:11 pm

Luv, I think what you are asking is if family members are responsible for their loved ones debt if their loved one was to die. The answer is yes and no. Let me try to explain:
Yes if they are on the account. If this is a joint credit card then if the loved one passes on the remaining person on the account will be responsible for paying the remaining balance. If you plan to keep this card open it would be a good idea to contact the company and have one issued soley in your name.
No if there is not anyone else listed on that credit card accoutn then they are not responsible for paying the remaining debt. I hope this helps you.

luvnet217

Joined: 02 Feb 2009
luvnet217's page
Posts: 12

551 Magic Points

Subject: credit card

Thu Feb 12, 2009 10:52 pm

yes,thats what I am asking.thanks now I know who will be responsible if the love one will die if who will pay for his debt.I like to have one but I do not have a job.I try to inquire but they said to credit card company that I must have a stable job and my monthly salary must mot be lower than 25,000 pesos a month.do you know any Idea how to get a credit card even a don,t have a job?

Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 1240

28942 Magic Points

Fri Feb 13, 2009 11:22 am

If any of the family members have co-signed the credit card agreement, then that person is liable to pay off the credit card debt once the other card holder dies. However, if none of the family members have co-signed the loan agreement, then the credit card debt dies with the card holder and no one is liable to pay off the debt. This is the reason why credit card debt is an unsecured debt and has a high interest rate.
Now, if the card holder has a credit life insurance, the insurance company pays off the debt in the event of the debt of the card holder.
_________________
All the Best Smile

Justin

goodnatured

Joined: 03 Nov 2007
goodnatured's page
Posts: 3927

10 Magic Points

Sat Feb 14, 2009 2:40 am

are you a co signer or are you on the account in any way?
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online
http://www.crazymonkeygold.com/members/register.php?ref=fedupinpa

luvnet217

Joined: 02 Feb 2009
luvnet217's page
Posts: 12

551 Magic Points

Subject: credit card

Mon Feb 16, 2009 12:02 am

thank,I learn a lot for all you information that you gave to me.s0o his family is mot responsible to pay his debt in some cases.but in some cases his family is responsible to pay.

Reno
Guest

Subject: nbxyaVUlSyR

Wed Dec 14, 2011 10:59 pm

My problem was a wall until I read this, then I smshaed it.

Quick Reply

Your Name

Subject

Message body


Page 1 of 1

Home|Contact Us|Terms of Services|Privacy Policy|RSS

* Disclosures:

Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.