Spouse Credit Card Debt

wife just died, and has credit card (min.) debt. Cards in her name with me as an authorised user. Do I have to pay off debt?

Yes you are responsible. How ever you need to notify the creditor that she has died, and provide them with a copy of the death certificate.

2006-02-14 14:12:27 by brokenheart

When you die, credit debt can be transferred to a spouse or next of kin depending on state laws. Check the laws on credit card debt being passed ...

My husband died suddenly last month. We had several credit cards held jointly but one each that was not joint even though we both had credit cards for our use. Chase bank has told me that it depends on your state of residence if the surviving spouse is responsible and that I needed to contact an attorney. They also said there was no SOP---sometimes it was written off and other times it was given to 3rd parties who could demand payment in full immediately. They said if I wanted I could freely assume responsibilty and they would arrange payments. Now I am retired and disabled and am still putting our daughter through college. I've been left with a great deal of debt. My husband was only 64 as am I and we never had a problem paying our debts. His death was totally unexpected and since I receive a teacher's pension I will not get his social security because of the government offset. My attorney could not give me an answer since he never heard of Chases' policy. Thanks in advance

not sure, if you have time here's a lot of types of cards and more:
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http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
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good luck!

2006-08-25 14:39:23 by sunstar

I have a charged off credit card account under my name only.
I wonder the credit card company will be able to go after my wife's asset to collect the debt I owe.

With much difficulty. Nothing automatic about it. And they'd still have to win a legal judgment in court to do so.

Credit card companies make lots of money. The issue is not whether they're making money, but HOW much money they're making THIS year. When the credit card industry makes $9 Billion just in late fees ALONE in a single year, you can imagine how much they're making in over-limit fees, and interest that approaches 25%. Don't feel sorry for the poor credit card companies that they only made a bajillion bucks this quarter.

So when they charge off a debt, they still get some money back for it. First, in reduced taxes for the loss, and then again when a private debt recovery company buys the debt from them. Now, it's THOSE companies you have to worry about. First, they bought the debt for pennies on the dollar, next they tack on all sorts of 'fees', penalties, and interest (that was never agreed to, which makes it invalid), and THEN they sue you in court, hoping that you won't show up. If you don't, they get the entire judgment by default. That makes a $300 credit card debt worth $3,000 or more for them (for which they paid $30 and some court filing fees).

After that, they can search out whatever holdings you have and grab them to satisfy the judgment, even if jointly held by a spouse. It's up to YOU to take them back to court to contest their right to do so. (Mostly you'll win, but you still have to challenge it. Otherwise, they keep it.)

By the way, is everyone familiar with Universal Default? That means your credit card company can review your credit record whenever they like. Even if you've been paying on time, never late, always diligent, if they see where you've had a credit problem with any other company, they can lower your credit limit (placing you in a montly over-limit fee category until your balance falls below the new limit), higher interest rates, and even cancellation of your card, which lowers your credit score, leading to more universal default decisions by other credit card companies.

Now, how would you like to be buying a car, making your payments every month, never late, keeping it insured, doing everything you need to do, and the finance company comes along and takes it away because you had a dispute with some other company that isn't even related? And this in turn causes your mortgage company to foreclose on your home, even with all the thousands of dollars you've paid into it?

Don't pity the poor credit card companies because their profits are down this year. And they're only making tens of billions of dollars in profit rather than hundreds of billions.

2009-07-20 09:01:48 by Michael

1-placed on joint credit cards opened in their name unknowwn
to me. 2-spouses DUI legal fees and court fines pre separation - (cash advance on joint card opened in their name card unknown to me) 3-Go against my credit record if they do not pay it. 4-We have had 50/50 custody of our two children for almost two years and they say that half their debt is mine.

Did you go through a formal legal separation that specified what bills were who's responsiblity? If you don't have a legal document stating who's responsible for what, you might be screwed. Before the divorce can be final all these bills will have to be worked through and decided who is paying what. Yep, it's going to go against your credit (if it's a joint card) and spousy doesn't pay it. If you shared 50/50 custody of your kids then half their debt was already paid for by you by having the kids 50% of the time.

2007-03-06 05:19:52 by TBDE

My aunt is terminally ill, has no children or spouse, has credit card debt with creditors calling daily. Her estate consists of her clothes, household items, and she is also on a title of a property that is owned jointly with two other people. Are the people who she owns a property with liable for the credit card debt? (California)

Well, they can file a claim against the Estate, and they can start proceedings to take the property that she s titled to, but it is a lot of work and expense and it is doubtfull that they will go to that extent.

The peolpe on the title are not responsible for the debt, but they could however loose the property if the Creditor started the proper proceedings agaisnt it.

2007-12-10 08:24:57 by Factor13