Question: Do Credit Card Debts Die With You?

Unfortunately, credit card debts do not disappear when you die.

The executor of your estate, the person who carries out your wishes, will use your assets to pay off your credit card debts.

But when your credit card debts have depleted your assets, your heirs can be left with little or no inheritance.

What debts are forgiven when you die?

Your estate is everything you owned at the time of your death. The process of paying your bills and distributing what’s left is called probate. The executor of your estate, the person responsible for dealing with your will and estate after your death, will use your assets to pay off your debts.

Do I have to pay my deceased husband’s credit card debt?

In most cases you will not be responsible to pay off your deceased spouse’s debts. As a general rule, no one else is obligated to pay the debt of a person who has died. If there is a joint account holder on a credit card, the joint account holder owes the debt.

What happens if you die owing money on a credit card?

However credit cards aren’t issued in joint names – an ‘additional cardholder’ won’t take on responsibility for a credit card debt if the account holder dies. Any outstanding debt owed by the deceased person at the time of their death will be repaid from the proceeds of their estate as part of the probate process.

Is family responsible for deceased debt?

While heirs or family typically aren’t responsible for your debts when you die, that doesn’t mean they just go away. Instead, the obligation transfers from you to your estate. When a person dies, their estate is born.