Hypothetical: Would you crash out in credit card debt if you knew you was about to die?

[Turbulent]

Your family doesn't have to pay credit card bills. Once you die, all your family has to do is tell them your deceased. Only way they would be if their name is on the card.

Could be wrong but i think they have to pay it if they want to inherit your stuff.

So for example, say you own a house worth 300k but you owe a total of 200k. If you die, your kids can't just inherit the house and not pay the 200k.


EDIT: Just read your reply about it not applying to credit cards. Honestly i could be wrong but i always thought it was like that for all debt.

 

[valet]

Could be wrong but i think they have to pay it if they want to inherit your stuff.

So for example, say you own a house worth 300k but you owe a total of 200k. If you die, your kids can't just inherit the house and not pay the 200k.

Yeah I'm not sure with a house. But my dad foe example had a gym membership they he paid with his credit card. That type of debt you wouldn't have to pay. But yeah a house is probably different.

 

[El_Mero_Mero]

Most likely if I knew 99% that it was time to go soon, then I would do it.

 

[valet]

Could be wrong but i think they have to pay it if they want to inherit your stuff.

So for example, say you own a house worth 300k but you owe a total of 200k. If you die, your kids can't just inherit the house and not pay the 200k.


EDIT: Just read your reply about it not applying to credit cards. Honestly i could be wrong but i always thought it was like that for all debt.

Yeah not sure. I know student loan debt doesn't transfer to your family for example though.

 

[Geek Nasty]

I might have an STD from one of the SWV girls.

 

[coldcall]

Hell yeah I would. I'm not married so I'm not worried about passing on debt to anyone.

 

[R.E.N. Spells Ren]

Nah, I have assets. Not trying to my fam through hoops to access my estate.

 

[valet]

Just wanna emphasize again. Of course, check the laws in your state. But I talked with my lawyer today. My aunt took out a $37,000 mortage to repair her house. According my lawyer, we (the estate) have no obligation to pay it back. They can't cease the house. If we decide to sell it then yes, they can take that money she owed as apart of the deal of selling the house (the house is worth 80k. So they would collect their 40 plus K) But if we don't there is nothing they can do. So again, in a situation where your trying to get an estate. Once again, check the laws. Or talk with a lawyer. My uncle was paying my aunt credit card bills for a couple of month before I told him he didn't have to.