 I cosigned my brother's car; now he wants to file for bankruptcy. How will this affect my credit? Thanks. |
Additional Details
If he says he plans to keep the vehicle and keep making payments on it, will his bankruptcy still show up on my credit?... |
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 How the heck can I get a credit card? |
| I'm 23 years old and I've applied for a bunch of credit cards over the past six months, now that I have my first real job out of college and want to establish some credit. However, every ... |
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 Question about credit cards? |
| I have two credit cards with one being $4000 and one with $2000, It is rediculous on the interest I am paying. With one $100 a month payment I pay half that in interest. I have the money to pay them ... |
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 Personal loans with bad credit? |
| We are a family in Windsor Ontario that is in desparate need of a loan to catch up on back rent but have not been successful with banks in the area due ot bad credit. Any ideas?... |
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 Who thinks it's cool not to drink/do drugs? |
I do!
I used to drink and do drugs a lot...if I could have controlled it, I probably still would be (but I'm glad I'm not)...still, I'm jealous of those who can.... |
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 I have no credit, and want to build one. Which one is better Orchard or First Premier CC? HELP Please? |
| I have no credit, I just started working, and like what I said, I want to build my credit score coz I want to buy a car in the near future, now I tried to research on Y! Answer about Orchard or First ... |
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 Has anyone ever done a loan thru this company? |
just want to know good bad and ugly i have seen several people taking about them on aol and here and others just wanting to know are they as good as everyone is saying
Additional Details
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 How is the credit crunch affecting your spending? |
are you going out less?
spending less on food shopping?
buying less luxeries?... |
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 VERY Wrong!??!?!?? |
| When I bought my house and I went to get my loan from a mortgage company, the lender ran my credit 22 TIMES!!!! Every time you run someones credit it takes away points, so I went from a really good ... |
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 Do anyone know how much 413,000,000,000,000,000 is? |
| there is supposed to be some sort of website dedicated to this kind of stuff... is anyone familar with it? please let me know if you do its worth extra credit on an exam that i despritely need.. ha ... |
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 I want to cancel 2 credit cards...? |
| There are no balances on these cards and I have others. A friend mentioned that if I do that my Fico Score will go down. Is that true??... |
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 I'm getting a credit card for the first time; what should I get? |
| I'm 18 and I'm getting my first credit card. I'm enrolled in college. I just want the best credit card. I just need to start getting credit.... |
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 Is a bank account needed to cash checks? |
I work for a large retail company and the checks given out are by the main company head quarters. I don't have a bank account so I was wondering if it is possible to cash checks at ANY bank.
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juju | What happens to all your debt once you die? |
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harvieschreiber2003
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Hmmm... beware of absolutely WRONG answers that have already been posted in this thread.
A lot depends on the TYPE of debt that you are talking about.
If a deceased person shared an account with a still-living person, the debt is still there for the living person to deal with.
If the deceased person was the only person on the account, the debt may become the responsibility of the deceased person's "estate." (The estate is everything that the deceased person owned that has value ... equity in or outright ownership of a home, cars, money in bank accounts, etc.) Before the "estate" pays out any money to inheritors ... the outstanding debt must be paid.
If the person who died has no appreciable estate (no house, no bank accounts), the debt may just go "poof" ... since there is no estate to pay for the debt.
A child cannot inherit his or her parent's debt. Your family is not "stuck with" your debts when you die ... your ESTATE may be stuck with your debts ... but once the estate is gone, no one else in your family has to pay the debts.
Further questions should be directed to a probate or estate attorney in your state, as rules governing these sorts of things vary by state. |
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Amanda H
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Harvie is the only one who is 100% correct. Your ESTATE gets teh debt, but if the estate ends up in the hole (Negative), the debt does not pass on. |
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webworm90
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Harvie is correct. However scrupulous collection agencies and credit card companies try to make the family responsible for the debit but claiming it will run their credit. Which they can not do. |
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Anarchy99
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It will initially go to you surviving spouse or estate to pay! If it is an estate, and the estate runs out of assets before all bills are paid- then the bills do not get paid! |
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shermynewstart
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It might depend on the state. I had a friend die in FL . His family was not responsible for his cr cd debt. |
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rhett_madison
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THE DEBTS ARE DISCHARGED. WITH THE DEATH CERT. |
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Isis
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They are passed on to your family |
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Jason724
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YOUR FAMILY MUST PAY ALL YOUR DEBT WHEN YOU DIE. |
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kveldulfgondlir
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It gets passed along to your next of kin, or beneficiaries. If there is no such person or persons, then your possessions will be sold off to pay of what portion of it can be paid and the rest simply winds up as a deficit for the agency that the debt is owed to.
(Interesting note in CA. of you die owing back child support and your only family is the child you ows support for, that child inherits the debt as part of your estate,a nd if the child is a minor, then the debt becomes the responsibility of the childs living parent or guardian). Guess that's one way to get back at them. Now where is my gu... |
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Anna G
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It depends. Alot of things can happen. It can go to your kids and becoem there burden. Make sure you have a good will stating what you want done with your assets other wise it could all be a big mess for your living family. |
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hockeyislife18
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it goes to your spouse, if not other members of the fam |
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sosweet302
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Ur family continue to pay |
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Brite Tiger
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It follows you to hell where you keep paying for eternity. |
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Audi11
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your kids are fukced |
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