Comments on: Can credit card companies try to collect debt from parents children?

By: Mark

Mark — Thu, 04 Mar 2010 10:13:24 +0000

Sorry about your dad. Yes i bet they will try and do that. They might call you and scare you that they will sue you and stuff like that. I would contact your layer and ask him about it.

By: MVD34

MVD34 — Thu, 04 Mar 2010 09:59:33 +0000

They cannot collect from you although they can and will take everything he has left after he dies.

Please note that they may harass you. They may sell the debt to debt collectors who will harass you. But you do not have to pay, should not pay, and cannot be made to pay.

If he ends up dying owing a lot more than he has in assets (bank accounts, cars, house, etc) be sure that someone who has their head screwed on straight handles his estate after he dies. There are very specific rules you have to follow, if you don’t trouble can follow…especially if the family goes rushing around dividing up his “stuff” shortly after he dies.

By: www.myspace.com/1real1genuineguy

www.myspace.com/1real1genuineguy — Thu, 04 Mar 2010 08:58:48 +0000

No after your parents are deceased they are no longer
liable for any debts And they can not come after you
So rest your mind assure , Now if you have a joint credit card account with your dad , Yes after he’s decease they can come after whose name is left on the credit card
That’s only if you and your dad got a joint credit card account together

By: Crystal B

Crystal B — Thu, 04 Mar 2010 07:54:33 +0000

They may try, but legally you are not responsible for those debts. As long as your name is not on the account it would be the same as them trying to get the money from jo-blow your neighbor. When he does pass send a copy of a certified death certificate to them and they will then clear the debts. On any secured property (that was used to secure the debt) they can come and collect on it.

By: knitting bear

knitting bear — Thu, 04 Mar 2010 07:51:14 +0000

I currently work for a probate collection company and hear this question every single day. Let’s make this clear. NO ONE OWES A DEBT UNLESS THEY SIGNED TO TAKE RESPONSIBILITY FOR IT!!!. Now that I have that out of the way, a lot of collectors will ask if the family wishes to make voluntary arrangements to clear the deceased’s name. If people have the money or are willing to divert money to do it, they will. If they don’t or can’t, they won’t. It is really that easy.

Unless there is an estate being filed in probate court to name someone in charge of the deceased’s assets, no one is responsible to pay the deceased bills that are in their name alone. Even when an estate is filed, the executor of the estate is only responsible to the extent of what the estate can do. If the estate has no or little cash or assets, it is considered insolvent and can’t pay the deceased’s bills or it pays them at a percentage of value as of the date of death. The executor is not personally responsible in any way unless they are a cosigner on any debt and then only on that specific debt.

One big mistake a lot of people make is in community property states. If the assets are in one person’s name only in a divorce, they can be equally split by state law. In death, they remain in the name of the person who had them to begin with. We recently had to order a widow to sell her house of 30 years because the house was only in the deceased husband’s name and she had no money to pay the bills off. The house, though, was paid off completely & was able to be sold for $3 million so she was able to pay off the bills

By: MadMan

MadMan — Thu, 04 Mar 2010 07:46:42 +0000

I am sorry about your father.

The card companies might try to get you to pay the bill but you are not legally liable for it. Note though that his estate will be used to pay off his debt before any inheritances are given out. If the debts are greater than the estate, nothing will be given out but the card company cannot legally came after the children.

By: jlf

jlf — Thu, 04 Mar 2010 02:51:37 +0000

They have been known to try, but unless you are a coborrower or cosigner, you have no obligation to pay. Debt is not inherited; his estate would be liable for the debts.

By: StephenWeinstein

StephenWeinstein — Thu, 04 Mar 2010 02:22:30 +0000

If he has any money when he dies, then that money must be used to pay the debts. If there is not enough money, but there is anything else of value, then it must be sold and that money must be used to pay the debts. You will not be able to keep any inheritance from him unless the debts are paid in full.

However, you do not have to use any of the money that you already have (or earn in the future) to pay. Any debt that cannot be paid with what he has will die with him.

By: Spydr

Spydr — Thu, 04 Mar 2010 01:24:31 +0000

NOPE

By: Joseph the Second

Joseph the Second — Wed, 03 Mar 2010 23:58:18 +0000

No… NOT as long as His kids names aren’t on any of those Cards!