Question

What happens when someone with multiple credit cards and no insurance passes away?

Answer 1

well most of the time surviving family will put all assets/debts into probate. Then all the assets/debts will be distributed accordingly to surviving family. Probate will usually take care of all the debt via liquidating assets first before distributing the balance to beneficiaries.

Answer 2

If there are no other names ie..secondary card user etc... than just send them a death certificate and they write it off. However if anyone is on the card and it appears on their credit report the credit card companies can attempt to collect on it. If no one else is one the card but a relative make a payment of some sort they have entered into murky waters with an odd unwritten contract with the credit card companies so don't make a payment!

Answer 3

Theoretically, his Estate is responsible for the debts and it is the responsibility of the Executor of the Estate to liquidate assets and pay what he can of the bills. This means selling homes, cars, trailers, TVs, stereos or whatever and paying what he can. Under the scenario you describe, any benefactors under a will won't be left with anything.. . Contact an Estate or Probate attorney to be sure, but I don't think any heirs will be responsible for the debts, beyond the fact that they might not inherit anything.