regerugged
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No. The credit card industry is a multi-billion dollar industry which writes off losses all of the time. Compare that to the hundreds or thousands that might be owed on one account.
The woman's death does not get her off the hook. The credit card company has no way of knowing if the woman leaves behind any assets that might be attachable.
Your friend does not have to deal with collectors unless he has power of attorney or is Executor of his mother's estate. |
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tiny
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I will tell you it might not be necessary, but thank the good Lord that my late husband had it on his credit cards he had several cards. and they were all paid off when he died of course there was alot of things I had to do in order for them to be paid off but nothing that I couldn't handle myself. |
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JQT
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Assuming that after she passed, he will inherit all assets.
Any debtor can come after the estate, i.e. his inheritance.
Although he may not be responsible for anything that can't be covered by his inheritance. As long as there is enough in there they will get it before he does.
Best wishes. |
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Karrien Sim Peters
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I wouldn't worry bout them. Grandma earned those charges. He isn't responsible. For that matter he should have had one in her name LOL. X southernbell. NO NO NO. He isn't responsible. I know because it happend to me. |
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Amy >'.'<
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I never understood why people seem to think their debts are left for other people to pay. If his name is not on her accounts and she basically has nothing to leave to anyone then the company is pretty much screwed.
If she had that credit protection and he sent in her death certificate I imagine they might pay the balance. But for the rest of us all those companies do is pay the minimum fee while you are unable to work and the proof the require is ridiculous in some cases.
Tell him to stop worrying about her bills and to just spend the little time he has left loving her and being there for her. He wont have to pay anything out of his pocket for cards that are not his. |
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mushrooman2000
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if they are on him he should tell them that it's not his debt and he is not responsible for it. end of story. Tell the credit card company that is harrassment. Once she dies the debt will be setteled by her estate. If once all her assets are liquidated and she is still in debt then the debts are considered uncollectable. If she has a house that is paid for she should sign it over before she dies to stave off the bill collectors |
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Taylor29
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I'm sorry to hear about your friend's mother. Her son is in no way responsible for his mother's debts. A copy of the certificate is enough. I stopped paying insurance on my card and now pay this off the actual debt. Tell your friend not to make any further payments,if he is |
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Mimi
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1st of all, this is probably too late to buy ins. on it.
2nd of all, if she left anything for him, such as a property, a car, etc...the credit card co. will get the money first...the law was changed since last year 10/17/2005. You can't get off easy anymore... |
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STEVEN F
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In the situation you describe, her son would not be liable for the debt. Anything she owned would be sold to cover her debts before he could inherit. Any debt above the value of her assets would be a loss for the creditor. in situations were insurance is advisable, never buy from the credit card issuer. You can buy more coverage for less money from a separate insurer in nearly any situation. |
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kurticus1024
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If the person dies, I think the spouse is also responsible. No spouse, then off the hook I think. |
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marvin
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Credit insurance for a credit card is a huge waste of money. Typically they want 89 cents per $100 of credit debt. If you owe then $1,000 then they charge an additional $8.90 every month. Your chances of dying are very low so this is truly FREE money for the credit card companies. Aren't they already charging you enough? Probably!
As for the rest of your question, there are some laws about survivor liability for family debt. Call a lawyer and and fine out where your friend really stands. Maybe a Consumer Credit Counseling Service can offer some information. |
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jennymilluk
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Most companies should accept this and clear the debt out of compassionate reasons, but I'm not sure on the law - especially if you are US it will be different. I would say that credit card insurance is usually a rip off as you often only have the cards for a short period if they're on an low interest offer or just to pay something off etc. If live in the UK I'd reccommend Consumer Direct - the government helpline - the folk are really helpful. Other than that then your nearest consumer helpline or trading standards type of office will help. |
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Whassap
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I think its useless, its a way to make people have an unecessairy security while getting more money. |
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missyhardt
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I don't think he can be held liable for her credit card debt in the event she dies. You can be held responsible for debt if you are the spouse, or if you inherit, say, a house or car that is still owed upon. |
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Super - Level 5
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I believe that the debt will be carried to his son. Those credit card companies are very persuasive unfortunately.
Check out for more:
http://www.freewebs.com/infosource100/creditcard/s2-kenny.html
"By Joseph Kenny
Most major credit card issuers now offer their members a variety of different free insurance programs. It is highly recommended that you review the insurance terms of your credit card agreement as in certain circumstances the credit card insurance offered by your card issuer may cover situation beyond those you may originally have thought. The major credit card insurance programs offered include:
Purchase Protection
If you purchase a product on your credit card that is later damaged, lost or stolen, you should be able to reclaim all or part of the purchase price cost from the insurance policy. Not only is this a useful protection to have if you purchase expensive or fragile products, but can also be a very good additional insurance to any home contents insurance policy you have.
Fraud Protection
Policy covers you should you be the victim of fraudulent use of your card. With the rise of identity theft, and the ever increasing Internet fraud taking place, this policy not only covers the traditional fraud methods but should also cover you for any Internet or telephone fraud.
Stolen Card Protection
Provided you report your card stolen at the first opportunity you have once you have become aware of your card’s theft, this policy should reimburse you for any transactions processed on your card following your last genuine transaction.
Price Protection
Not offered by all card providers, basically this policy will reimburse you the difference between the price you paid for a product and the cheaper price of the same product you later found elsewhere.
Travel Insurance
If you purchase your holiday on your credit card there are two useful beneficial insurances you should check to see if you have. The first is a cancellation policy, which covers you in the event that you need to cancel your holiday between the period of purchasing the holiday and the date of travel. The second is holiday accident insurance, which should cover you in the event that you have an accident – including emergency accident evacuation - or are killed on holiday. Both of these are very useful to have as they can be a considerable extra on your holiday travel expenses if purchased independently. Obviously all of the above credit card insurance schemes are subject to time and monetary limitations, so make sure you check these out. Additionally, you should also make sure that any purchases or use of your credit cards outside of the country of issue are also covered by the policy – as, in some cases, they are not. " |
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Blunt Honesty
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Not really. Mostly you pay them for a lot of money for a service you will never use. That would only work if she has the insurance on them. If she doesn't, her estate is responsible for payment. That means it will come out before an inheritance (if any) is given to anyone. |
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beetlejuice67stangfastback
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yes
Yes
YES!!!
I just lost my husband two years ago. While sending in a copy of his Death Cerificate worked with SOME creditors, it did NOT with others. I now have a very bad credit rating because some creditors transfered the debt to me as his wife! I'm disabled and not working. We had/have no tangible property to liquidate. My name was NOT on any of his accounts. I even have a hospital bill for HIM that was sent to collection against ME!
Creditors are NOW starting to go after the next of kin (spouse or not) to get paid! It's sad, but legal now. So, he CAN be held liable for paying the debt if any exists after liquidation of any assets held by his mother. |
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J-Papi
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I would imagine that clouds are some sort of transparent obstacle for angels to whirl through, but that's just my humble opinion. ok? See you soon Sandy. |
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