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Credit Card debts written off on death?
MLJWiltshire
Posts: 9 Forumite
in Credit cards
As the title suggests, do credit card debts get written off on death or do they pass to the estate?
Cheers
Matt
Cheers
Matt
0
Comments
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Generally they pass to the estate, like any other debt.0
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Estate but the funeral can be paid for first.0
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Yep, assets in the estate must be used to pay the liabilities. If there are insufficient assets, then the estate is insolvent. If the deceased owned a house that would normally have passed outside of the estate (eg by survivorship rights) then a court order can be obtained to make this available to the estate.
In the case of an insolvent estate then usually unsecured creditors share what is left equally in proportion to what they are owed.0
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