Comments on: What Happens to Credit Card Debt When Someone Dies?

By: sylwia

sylwia — Wed, 29 Oct 2008 19:15:23 +0000

What happens if a person who passes does not have any assets (house, car, etc.) and does not have life insurance? and let’s say the living spouse has some savings in the bank. Could they go after that money?

By: tom

tom — Fri, 27 Jun 2008 04:11:11 +0000

[â€¦] I have been telling that to Barry Ritholtz â€”but he stays on his position. [â€¦]

By: credit cards

credit cards — Wed, 07 Mar 2007 18:43:52 +0000

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By: Kristen D.

Kristen D. — Thu, 23 Nov 2006 01:18:46 +0000

This is why it’s very important to have life insurance in place. My husband and I currently have a high amount of consumer debt, but have protected each other in the event that one of us dies through term life policies. It may cost a little per month, and it’s money that in the event we both live, we’re not going to ever see again. But I take great comfort in knowing that if I died, my husband could completely pay off all of our joint and individual debt obligations, with extra to spare.

By: Don

Don — Thu, 16 Nov 2006 23:05:28 +0000

This is something that’s going to vary by state based on community property laws, at least for spouses. The issue with them coming after the estate is also one of the reasons people set up trusts – money in the trust can be protected from creditors in this situation.

By: Start Conversations About Money » The Weight of Money

Start Conversations About Money » The Weight of Money — Tue, 14 Nov 2006 21:56:44 +0000

[...] It is the â€˜othersâ€™ that we need to be reaching and this readerâ€™s comment reminds us we are. Maybe our influence isnâ€™t always visible, but it is making a difference. How many bloggers have been inspired to address financial issues after reading a pf blog? I was and I even started this site after reading a friend’s blog. [...]

By: Loopy

Loopy — Sun, 12 Nov 2006 15:05:23 +0000

I just love your blog! I’ve read nearly all your archives and you’ve really inspired me. There’s something about the idea of “publicly” talking about debt and planning that has really motivated me. I started my own and will join in the land of personal fiance blogs.

Thank you for the inspiration! I’m linking to you and will ready you each day.

By: MOMM

MOMM — Sat, 11 Nov 2006 23:43:34 +0000

And some credit card companies have some sort of protection that you can buy that will pay off the entire balance should you die. A friend of mine shared a credit card with her Dad and when he passed away, she didn’t realize he paid for that protection so the debt was all paid off.