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mark m
Lv 5
mark m asked in Business & FinancePersonal Finance · 9 years ago

Credit Card Debt After Death?

My colleague is terminally ill. He is divorced, with one adult son. My colleague has outstanding credit card balances, the combined total of which is approximately $20k. All his assets have been completely depleted by the payment of medical expenses. The question is, what will become of his credit card debts? Does his son have liability for payment of these debts. (The credit cards were issued only in my colleague's name).

Update:

Thanks for the concise answers. It's what I thought but I wanted to assure the 19-year old son who is a struggling college student.

3 Answers

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  • ?
    Lv 7
    9 years ago
    Favorite Answer

    Credit Card companies will attempt to collect from the son but he is NOT responsible to pay the debt.

    Tell son any requests for payment should be answered with a copy of the death Certificate.

  • Susan
    6 years ago

    what happens to credit card debt after death of both of the signers

  • A Hunch
    Lv 7
    9 years ago

    It there are no cosigners and no assets, they die with him.

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