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If a person dies and owe money on credit card, what happens?
- Thread Starter cindiw2
- Start date
adjusterjack
Super Moderator
His estate has to pay it, to the extent that the estate has assets, either cash, or property that can be sold if necessary.
Creditors get dibs on the money after funeral expenses and legal costs, and before the heirs get anything.
It's not a choice. The creditors file claims with the probate court and the court monitors the probate estate to make sure everything is done according to law.
That's overly simplified, of course.
How much is the debt?
Creditors get dibs on the money after funeral expenses and legal costs, and before the heirs get anything.
It's not a choice. The creditors file claims with the probate court and the court monitors the probate estate to make sure everything is done according to law.
That's overly simplified, of course.
How much is the debt?
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