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Is wife responsible for line of credit debt in husbands name if he dies?
Wiki User
∙ 12y ago
The assumption is that the wife will inherit at least half, if not all, of the husband's assets. That will normally include the property securing the line of credit. And the estate has to liquidate all assets before they can transfer them to the spouse. So one way or another, the wife does end up resolving the debt. If the assets are not enough to cover the debt, the real property may have a lien placed against it to cover those debts.
Wiki User
∙ 12y ago
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What happens to husbands credit card debt if he dies?
The deceased's estate is going to be responsible. The spouse can be held as a beneficiary of the costs and by inheriting less from the estate.
If a credit card holder has a judgment and dies who is responsible?
No one. The person left is not responsible for the debt. The credit cards want people to think that the family owes for the deceased debt, but they don't.
Who is responsible for credit card debt when a person dies in West Virginia?
the deceased' inheiritance
Are you responsible for husbands credit cards if he dies?
im sure this is a no the person responcible should be the insurance company
If my husband dies and leaves credit card debt and our childrens parent plus loan debt am I responsible for assuming the debt in PA?
not if you have death insurance on the loan and credit cards
When the cosigner dies is the spouse responsible for a repossion that she did not cosign for?
The spouse is not responsible and should not have this on her credit. But the estate of the deceased will still be responsible for the debt.
Is wife responsible for credit card debt in husbands name in Canada if he dies?
The wife is not directly responsible unless she is on the contract. Most Canadian courts would rule that the spouse benefits from the debts and can be held responsible. The estate has to pay the debts before she can inherit anything.
Who is responsible for debt on a credit card after divorce and after person who made the debt dies?
Review the divorce decree. It typically specifies who is responsible for the debts of the couple. Their estate has to resolve the debt if it was assigned to them.
If a relative dies and you were paying their credit card debt for them and you are an authorized user of that card are you then responsible for paying off that card debt balance?
No.
Is a wife responible for a credit card debt if her husband dies?
The husbands estate is responsible, but not the wife directly. The amount of the husbands debt will be subtracted from his assets after his death. His wife will usually inherit what is left, unless the husband left other instructions in his will (ie leave everything to charity). If the husband dies and his debt is larger than his assets, then the creditors usually lose the difference. This is all handled through probate court, and a judge can choose who gets what.
In Missouri is the spouse responsible for credit card debt when the other one dies?
If the surviving spouse was not an account holder then he or she is not responsible for repayment of the debt. FYI, authorized users are likewise not legally responsible for credit card debt as it is assumed the AU has no control over how the account is handled.
Who is responsible for credit card debt if your spouse dies and the credit card is in his name only?
It all depends on what state you live in. Contact the credit card companies they can tell you
