Say what!?!?! What would happen if you were to die owing 50k in credit card debt? Am I understanding right? If so good question hahha 
Discover IT $2,600- First Premier MasterCard $1,000- Dillards Store Card $300- Fingerhut Advantage $200
The creditor going to updated new address and sent bill to new ""grave "" address every months until no mail man going to delivery it.............
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@j_casteel wrote:
@SantaMar wrote:
If you were an die with substantial credit card debt?! Like 50k?!I can't remember which CCC it was, but they came after my mother-in-law shortly after my father-in-law passed. She was taking it very hard, and did not pay attention to all his finances and missed a card he had. It became late and she became responsible for the balance and late fee's, etc.
Was your mother-in-law a joint account holder? Unless she was, I don't see how it would be legal that she be held responsible for her husband's credit card management. Balances, sure, but late fees and such???
@Cdnewmanpac wrote:
@SantaMar wrote:
If you were an die with substantial credit card debt?! Like 50k?!It would be deducted from the life insurance payout, since you were responsible and purchased a policy for at least 3x your current annual salary.
You need to check the state in which you reside, but life insurance proceeds are typically not part of the deceased estate. As such, creditors can not go after them as the debt would be a debt owed by the estate. Its one of the benefits of life insurance proceeds. However, there is a work around by the creditors. If you probate the will (if there is one)/open a succession and accept the succession then you maybe personally liable for the debts of the estate.
