What happens to someones credit card debt when they die? Do the wife or kids have to pay it off?

The credit company can only go after what the deceased owned soley, not what was owned jointly with a spouse. The surviving spouse is not otherwise liable, and even gets part of the inheritance before the creditors can get at what's left. Sometimes a collection agency will go after anyone they can to try to get payment, from heirs to ex-spouses, but it isn't legal.

The estate stands for the debt. If the bank accounts, house, furniture etc. isn't worth more than the debt VISA and Mastercard lose out.

In the absence of any life insurance on the card to cover the outstanding debt, the estate of the deceased becomes liable for the card debt. Assuming that the deceased left SOMETHING of value to be disposed of after death, the card holder will be paid from those proceeds.

"Spouse or estate
If the spouse is still alive, he or she is still on the hook; otherwise, the estate must pay off the creditors.

Estate
The credit card company will first try to collect from the estate (assets will be sold to pay the bills). Then, if the account was a joint account, any survivors will be left holding the bag. If the debt belonged solely to the deceased, then the credit card company will end up eating the debt if there aren't enough assets to cover it.

Credit counselor agrees
I can confirm that the answer above is correct. I am a certified credit counselor and it is true that the credit card companies will try to collect from the estate first and if there is a co-signer, they will be responsible for the debt. However, if there is no estate to collect from the credit cards can not pursue collections from the family. They may try to get the family to pay the debt, but can not legally force them to. Simply mail a copy of the death certificate to the credit card company (certified mail) and they should take care of the rest.

Inheritance laws vary
Inheritance laws vary by state. If the state you live in (or the deceased lived in invokes "community family property" laws or "joint and several" provisions, heirs to an estate may be deemed responsible for the debts of a deceased person.
In most cases this has nothing to do with being a relative and everything to do with being an heir. The rationale is that anyone staking claim to the assets of an estate, should also be willing to accept its liabilities.

It depends
That would depend on if the person is the only account holder or if the person is married and lives in a community property state. When a person dies and is the only account holder, the person's debts and assets are generally handled by the state probate court. State laws govern what property is exempted from probate procedure and what is exempt. If the deceased was married and lived in a community property state, the surviving spouse is usually responsible for most debts regardless of who held the account.

Several possibilities
Your estate, your spouse, a cosigner. "

I am in India. I have a credit card. Every month, they charge an amount (very mimimal) towards insurance. If I die, they will write off the debts. Also, my nominee can claim insurance benefits. You should also have this benefits.

Well, I'd say the opinions are 50/50 here. Probably best to ask an estate lawyer.

The debt has to be paid by the largest beneficiary.

They sure do. Well it is actually the estate of the dead person who pays it off. If there is no money in the estate then it rolls down to the wife.

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