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luvnet217

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

551 Magic Points

Subject: credit card

Tue Feb 03, 2009 11:48 pm

what will you do if you do not like use the credit card.?example if the person who have the sredit card was died in acccident,do he need to pay his credit?,who will pay for his credit?

Mary

Joined: 06 Jul 2006
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Posts: 686

17396 Magic Points

Wed Feb 04, 2009 11:26 am

Hi Luvnet
Since the credit card is linked to the social security number of a person, if he does not make any payments towards the debt, the creditor can sue him. But if he dies without paying off the debt, no-body, except the co-signer (if any), is liable to repay it back. However, if the card holder has made a credit life insurance before he died, the insurance company will pay back the debt for him.
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scott

Joined: 28 Jun 2006
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Posts: 446

10878 Magic Points

Wed Feb 04, 2009 11:34 am

If you stay in the community property states, then both the card owner and his/her spouse is responsible for the credit card debt and so the living spouse need to pay off the debt if the card holder dies. There are 9 community property states in US. They are - AZ, California, TX, ID, NV, Washington, WI, PR and New Mexico. However, no other person except the spouse is responsible to pay off the credit card debt.
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SCOTT

Use your credit account responsibly and enjoy a debt free life.

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