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Is A Spouse Responsible For Credit Card Debt

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as MONEY has reported. For example, if the person who died was married and cosigned a loan with his or her spouse, the spouse will be responsible for the outstanding debt. But, with personal loans lik.

there can be debt that was incurred by one individually, or in the name of both jointly. If a credit card account was opened by both spouses jointly, then the surviving spouse would still be responsib.

You may agree that one party will bear the responsibility for paying off the credit card accounts, for example. That’s well and good, but if you held that debt jointly and the ex-spouse who’s responsi.

If you are still registered as a co-owner of the credit card that she uses, you are probably still liable for any charges made. such as a commitment that one ex-spouse will pay off credit card debt.

Here’s how: Do encourage diligence about credit card. money: Consider taking on some monthly costs that you previously shared—like rent or the car payment—by yourself to allow your spouse to use mo.

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One of the last things a consumer wants to deal with after the unexpected death of a spouse is unexpected debt. personally responsible for the balance. However, you could nonetheless be indirectly.

Q: My husband passed away in May, owing $10,000 on a credit card in his name and $4,200 on a card held in both of our names. Am I personally liable for these debts? — Colleen Edwards, Wai’anae A: You.

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After the death of a family member, many spouses. the hook for someone else’s credit card balance after that person’s death. If you’re a joint cardholder, meaning you co-signed for the credit card,

Plus, when it is time to pay off your debt, you will have an easier. a joint user might be the only way to get your spouse a credit card, or to get her a low interest rate. Both people are legally.

After the death of a family member, many spouses. the hook for someone else’s credit card balance after that person’s death. If you’re a joint cardholder, meaning you co-signed for the credit card,

For instance, your spouse could increase his or her spending on a joint credit card. If an account has your name on it, you’re usually responsible for it regardless of who incurred the debt or what th.

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With respect to credit card debt, the first question is whether the debt was. In community property states, spouses may be responsible for the student loan debt as long as the debt was incurred dur.

But if there is money or other assets, they must be used to pay the debt before anything is distributed to heirs. So even when you’re not legally responsible to pay the. of Estate Planning Attorney.

The minute you have your name added to any sort of credit obligation or utility, you immediately become liable for payment. You also become subject to any collection activities, should the debt become.

With respect to credit card debt, the first question is whether the debt was. In community property states, spouses may be responsible for the student loan debt as long as the debt was incurred dur.

Mostly, his affairs are very simple: no spouse. banks should write off the credit card debt for the simple reason that they can’t squeeze blood out of a turnip. It is important to know that your wi.

Spouses, children or other loved ones don’t “inherit” credit card debt unless they co-signed the card. (If one owner of a joint credit card dies, the others automatically become responsible for the ba.

We can both use the credit cards. I assume I will be liable for the debt, after he dies. your status with the credit card company. Some folks remove themselves as joint account holders, prior to th.

I learned that he is making payments towards credit card debt and unpaid taxes. If he dies, would I be responsible for any of his debts incurred before our marriage? — E.L., Leesburg A: You are genera.