Credit Card GREEDY and PIG!!!!!! Watch out!!!

[Liebling:-)))]

6 years? I don´t understand what and how American system like that... I need to know about American system about relative´s death...

I know from my own experience because my hubby & I took care of my hubby´s great Aunt for 4 years until she died at age 90 in 2000. We went to City Hall to prove doctor´s confirmation of Aunt´s death to collect death certificates to spread certicates out to Bank, doctor, tenant, etc... that they closed her name immidately. We went to City Hall with the proof of her death certificate then they search for us either Aunt have debts, credit, or whatever... until confirmed us in writing that she has no debts, etc... and then closed her name straight way.

 

[Nesmuth]

I been there one of my accts I thought was closed had grown to a balance of $2000 and some change. I complained to BBB and they made all that disappear.

It took me about 7 months of calling and letters to get them to fix it and it drove me up the wall enough to end up cursing at them through the relay and letters.

You're gonna have to pop a vein on your forehead before you can get them to fix it for you.

Richard

 

[Kaitin]

I think it is important to protect ourselves and know our rights.

From WikiAnswers:

Who is responsible for a deceased mother's credit card debt which was in her name only?
Her estate is responsible for all debts. The credit card company can file a lien against her property. If the children are to inherit her belongings, this lien may be taken off the top. A probate judge oversees settlement of the estate.

If she died insolvent then there is no repayment. Credit card companies insure themselves for this; it's part of the risk they take running a business.

If are paying off your parent's credit card debt since his death is the credit card company responsible for taking off all finance charges back to the time of death?

Why is the debt being paid? Was the deceased the only account holder? These things are very important, because ONLY the account holder is responsible for credit card debt. There are a few exceptions, but generally even they can be voided via the appeals process. Therefore, the interest charges are only valid if the debt is actually valid. The party involved might wish to consult an attorney concerning this issue. If the debt was part of the probated estate it should have been paid through the court.

An authorized user is NOT responsible for credit card debt of a deceased person. The exception would be if the person continued to use the card after the account holder's death, in which case they could be held liable for those charges only.

From FamilyResouce.Com


Q: I've heard that when parents are in debt and they die the debts are left to the children to pay off. Is this true? My parents had gotten a divorce a few years ago. My mom is doing well because she is a saving queen. My dad had remarried two years ago. His wife does not work but loves to spend money. So now they have a $20,000 debt. If my father dies, his wife is responsible for the debt, right? What happens after she dies and there is still that debt? Also, what happens if she dies first, and then my father--who gets the debt?

A: Can someone die and 'leave' their debts to you? The answer is no. Parents can't leave their debts to you. In fact, they can't even leave their debts to their spouse.

Typically a will controls financial affairs after a person's death. A will distributes assets, not debts. But, before any money can be distributed to heirs, all the debts must be paid. So enough assets are sold to pay for any debts that remain. Only after the debts are paid will the remaining assets be distributed among the beneficiaries of the will.

The key point to remember is that you are only responsible for debts that you contractually created. There are certain circumstances that would put Judy at risk for her dad's debt. But she would have had to do something to cause that responsibility.

Suppose that Judy's dad asked her to co-sign a loan. Signing would make her responsible for the debt. Not only if her Dad died, but also if he failed to make a payment. But she shouldn't be surprised. When you 'co-sign' a loan, you do just that. You put your signature on the loan application.

A similar situation occurs with a joint credit card. A joint account allows anyone named on the account to use it to create a debt. But it also means that everyone listed on the account is responsible for the entire debt that's created.

Suppose Judy had a joint card with her dad. And he was the only one using the card. Any debts he left at death would be Judy's. But once again, it should be no surprise to Judy. She signed the joint application for the account. And it's her responsibility to be aware of whether it's being paid off or not.

It wouldn't be unusual for Judy's dad and step-mother to have a joint account. In that case the survivor would be responsible for any balances on the account.

Joint credit card accounts often create problems in a divorce. Often a couple has a joint account before the divorce. The credit card company isn't going to split the bill just because a couple throws in the towel. As far as they're concerned, both the ex-husband and wife are responsible for the entire amount of the bill until it's paid. And while a court can instruct one party to pay, sometimes it still doesn't happen.

Another way that people end up paying someone else's debt is when you let someone use your credit card. Again, it should be no surprise when the bill comes in.

So what happens to the debts of someone who dies? The credit card company will first try to collect from the estate. As mentioned earlier, assets will be sold to pay the bills. Then, if the account was a joint account, any survivors will be left holding the bag. If the debt belonged solely to the deceased, then the credit card company will end up eating the debt if there aren't enough assets to cover it.

But Judy isn't completely off the hook. She might still want to advise her dad to control his spending. As her father and step-mother get older they could have trouble keeping up with the minimum payments. And, once they fall behind things will get tough. Credit card companies are quick to bump up interest rates when you miss a payment.

From the Federal Trade Commission: Knee Deep in Debt

Dealing with Debt Collectors: The Fair Debt Collection Practices Act is the federal law that dictates how and when a debt collector may contact you. A debt collector may not call you before 8 a.m., after 9 p.m., or while you’re at work if the collector knows that your employer doesn’t approve of the calls. Collectors may not harass you, lie, or use unfair practices when they try to collect a debt. And they must honor a written request from you to stop further contact.

For more information, see Fiscal Fitness: Choosing a Credit Counselor, at Fiscal Fitness: Choosing a Credit Counselor

The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit Federal Trade Commission - Home or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters Internet, telemarketing, identity theft, and other fraud-related complaints into Consumer Sentinel, a secure online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.