Visa account [balance after death of cardholder]

heartofarebel

If a person dies owing a dept on a credit card does that persons estate have to pay the dept or does it die with them?

blindside88

The debt dies with them

heartofarebel

Thanks for that. I was sure it did. Just a friend of mine sister has recently died and he thought that he had to pay it back. He has very high morals and thought it was the right thing to do.

phormium

I hate to be the bearer of bad news but I doubt that advice is correct, unless there is some insurance policy in place on the credit card which will clear the debt then it looks like the estate is liable, your debts in general do not die with you unfortunately.

http://www.citizensinformation.ie/en/money_and_tax/personal_finance/debt/debts_after_death.html

heartofarebel

I found a thread on another site and by the look of it, it depends on which bank it's with. Some write it off and others persue it.

coylemj

The executor of the estate is duty-bound to pay all lawful debts and an outstanding balance on a credit card is a debt by any definition of the word.

A mortgage covered by a mortgage protection policy would be an example where a debt doesn't follow you to the grave and if you're below a certain age when you die, most credit union loans are written off but otherwise the loan is outstanding against the estate.