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Certainly, if a credit card had two authorized users but one of them has died, then there is still one authorized user. The account is still open.
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What happens to a joint credit card when one account holder dies?
Both owners of a joint credit card are equally responsible for paying off the balance on the card. When one dies the survivor is responsible for the full balance.
If a person has a card issued in another persons name and the card holder dies Can one keep the card?
No, that would be fraud and/or theft.
What happen if the seconary bank holder dies?
It seems like you are asking what happens when one joint account holder dies. I believe that most joint bank accounts are set up so that the surviving account holder would have legal possession of the full balance, the same as he did before the death of the other joint account holder.
If a credit card holder dies who will be responsible for paying debts on cards?
If the cardholder has an estate, the credit card company can pursue that. In practice they don't really do that. If the account is a joint account, the other account holder becomes wholly responsible for the debt. Otherwise the bank eats the money.
Who is repsonsible to pay a credit card when the holder dies?
The estate, or any person who was listed on the account. The debt must always be settled.
Is an authorized user of a credit card responsible for the debt after the account holder dies intestate without assets if all cash advances and purchases were made only for the holder's benefit?
No. An authorized user is like a visiting guest in a house. You're able to use all the amenities, but you're not responsible for the mortgage. Only a joint holder on the account -- that is, someone who opened and signed responsibility for the account with another person -- can be held liable for the charges made by the other joint holder.
What happens to a joint bank fixed deposit with a nominee when the primary holder dies?
the fd has to be terminated and principl amount returned to nominee or joint holder without any deductions
What happens to a joint checking account in Indiana if one person dies?
In Indiana, when one person dies, their share of the joint checking account typically passes to the surviving account holder. This is because joint accounts have a right of survivorship, meaning that the surviving account holder automatically becomes the sole owner of the funds. However, it is always advisable to consult with a legal professional or the bank to ensure a proper understanding of the specific situation and any necessary legal steps.
In Minnesota is an adult child responsible for their mother's debts when she dies?
No, not unless you are a joint debtor/account holder.
Who is responsible for credit card dept after cardholder dies?
If you are not a joint account holder you are not responsible for the debt. The debt will be included in any probate hearings. The court will then decide which debts (if any) are paid out of the estate assets.
If you are on a joint credit card without your knowledge and the other person on the card dies can they make you pay?
YESSS!!!!! I HAVE A FRIEND THAT HAPPENED TO BY HIS EX-WIFE. HE HAD NO IDEA BUT IS NOW PAYING THOUSANDS BACK
What happens to a mortgage loan when the sole loan holder dies and the property is titled Joint tenants with full rights of suvivorship?
The mortgage obligation remains on the property. If the holder of the mortgage dies then her heirs own the mortgage.
