russ_t_rombone
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Yep, the credit card companies are assedout. Fortunately since they were charging this poor soul 28% interest in the years leading up to his death, they have recouped their losses about 200 fold. There are no losers in the lending game, they all win. That is the business. They would not lend if they could not afford to lose. |
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Andy
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not a damn thing |
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yzemann
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they consider that a loss |
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Answers- Like them or not
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Depends on the debt. some are nullified upon their death and with some debts it is contractually agreed that upon death the debt is transferred to their next of kin. |
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nbinthahouse
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There is nothing they can do. If there's no estate and no family, they are out that money. |
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backbreaker
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that person's family is responsible for the debt |
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martin g
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the credit card companies are insured in such cases and they recive all the remaining cash that this dead person had. the insurance company pays the rest since the problabilty of such thing to happen isn't high....why? do you owe cash and wanna fake your death? that's a good idea.....:-) |
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Genesis
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the banks insurance covers it, thats why you pay the $10.00 or whatever ammount per month in case u die. |
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evalmonk
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They will bill his "estate" which consistes of EVERYTHING that person owns. They will force the executor to sell everytihing and pay them what they can. They "estate" will have to pay them. In Texas they have 2 years to bill the estate after the person died or they are SOL. It probably varies from state to state. |
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tait_brown
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They send a letter to nearest relatives saying that if they dont pay up the body will be sold to a dog food company. |
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toohairy4u
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they write it off as a business loss...
but don't feel bad for the credit card companies... they make millions off all the "alive" ones who borrow money from them and pay it back slowly (insterest only for the most part).
Just say no to credit cards. |
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nothing
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Creditors have a right to seize the body, have it stuffed and put on display and charge visitors to see it. In California we call these places wax museums. They may look like wax, but I can assure you that it's more sinister than that and it's mostly because they left unpaid debt to someone. |
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Blondie*
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Well if this person has no remaining family members or next of kin, I would assume that the credit card companies eat those thousands owed to them.......naturally they know some people will not pay off their credit cards ...etc. before they die...and I would say that if that person did have family members like children or sibilings...etc.. then maybe the credit card companies would seek them to see to it that the outstanding debt is paid, but I am sure that $500.00 is gone and used to pay whatever it could ...maybe even that credit card debt, although it didn't pay it off completely. What can they do about it?? At least, in their mind, they got something rather than nothing. |
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jasonpops
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ur SOL and JWF.
thats america liberty for ya. |
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Mr. Spin
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Credit card companies already made money with the outrageous 24% interrest before the death. Anything else is just a loss. You get nothing and the government always makes out in the end. |
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MackMama
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Yes they are insured for this situation. Also, they just raise their interest rates for those of us left alive. |
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kitty
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The card company inherits the money and everyone lives happily ever after. |
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just♪wondering
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Whatever is left will go to his debtors. The balance of the debt will have to be written off. The credit card company will find other ways to make up for the loss, like raising fees. |
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whatelks67
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They are out of luck! |
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I_know_all
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well no money 4 u!! |
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jason
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this person probly has possesions right? |
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thewildeman2
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If there is no will, no outside family members and no money in the estate to liquidate, no property to liquidate, then there isn't much they can do at all. They have to write off the debts as uncollectable and get on with business elsewhere. |
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scorpiocharmer36
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Well Even if there is no will, the fact that they had assetts may come into play especially since there are no remaining relatives to claim the funds. Without a estate or exectutor of a will I am fairly sure the credit card company has the legal right to put claim against any funds |
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madeit
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Let them dig them up and put them back to work if they really want to. Oops, you said cremated -- hope you still have the ashes.
Seriously, I hope I made you smile and I'm sorry for the loss. I don't think you have any worries with the credit cars unless Simone Else's name is on them. |
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juan ton zoup
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depends on whats in the will |
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dsmith68111
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I think they just lose out on something like that. |
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Carol O
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If the only person whose name is on the card dies, the debt dies with the cardholder. The only time the credit card company can go after anyone is if it's a husband and wife account, or a parent and child. Then the remaining live person is responsible for the debt. That's why, when they offer to sell you insurance to cover the debt in case of your death, just laugh at them. They can't go after your estate or your family or even your little puppy dog. The debt is canceled when your clock stops. |
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Karessa W
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goes to family... or someone that they put in their will |
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candycane55
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If he or she don't have an estate or a parnter- wife or husband and no one signed for the loans, Nothing. Let them dig him up smile. |
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Bargain Girl of Yore
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Sometimes the debt gets written off and sometimes they have the right to collect the money from your spouse or kids. |
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sasquatch jr.
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thier assests would be sold and the rest written off. usually. and the fact that the make sooooooooo much off everyone else helps |
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