Advice please? Credit card debt from late mother-in-law

Keep_pedalling

Froglet said:

TP71 said:

Thank you Penny. She was a proud lady and wouldn't have wanted anyone to know she was in trouble, which, coupled with a real lack of financial savvy, meant she obviously got in a right pickle. Such a shame as it's easy enough to sort out. My step-daughter got in all sorts of serious trouble with credit cards and over a year or eighteen months we sorted that out, thankfully, but sad to say my MIL never got rid of it. We're angry, more than anything, that the card company would let someone on such a tiny income have so much available debt. And we're wondering where the money went, as there's no evidence of purchases made. A sad mystery at the moment.

Surely at some point,either before,or after probate,they will have to provide statements showing what was bought on the card,and why it never got paid off.Especially as they want it paying off.That will be the time to.challenge them over  why it was allowed to go on so long. I certainly think you may have a case  over the colossal amount.

Not if the purchases were from more than 6 years ago and she had just been paying minimum payments, which would have not been enough to pay off the capital.

The OP should be able to get statements going back for the last few years if the speak to the bereavement department. 

emmajones1976

The statements for the last few years wont show what was purchased tbh, which is one of the things the OP wants to know.

£15k isnt a lot in the grand scheme of things tbh, it may have been purchased on services rather than products, hence you cant find any Gucci handbags or whatever.

Keep_pedalling

emmajones1976 said:

The statements for the last few years wont show what was purchased tbh.

True but it would say where they were spent which might provide a clue. Personally though I would let it go I think the OP is on a hiding to nothing.

emmajones1976

Keep_pedalling said:

emmajones1976 said:

The statements for the last few years wont show what was purchased tbh.

True but it would say where they were spent which might provide a clue. Personally though I would let it go I think the OP is on a hiding to nothing.

The OP made a 2nd post after her opening gambit to say the accounts were actually opened 2003-2005, and not 2016. So its even harder to go back that far and pull out the statements. 

Thrugelmir

TP71 said:

Does anyone know - as her executors or representatives are we able to request the initial application form and copies of the few early missing statements which are key? At least that way we know what happened in the very beginning, how much credit she was given - very irresponsibly! - and, more importantly, where the money went! (There's no wardrobe full of Gucci handbags or Jimmy Choo shoes - we've checked!)
Any advice or similar would be appreciated.

The role and legal duty of the Executors is not to dispute or query how the deceased ran their personal lives. Understandable that it's come a shock to find this out. If she had enough money in her bank account to settle the debt. Then appears the interest incurred was self inflicted. Delaying settlement will simply accrue further interest. 

TBagpuss

You can request documents but given the age of the accounts they may not have retained the paperwork  - it sounds as though the card was taken out nearly 20 years ago.

It's understandable that you want to try to find out how and why, but many people do have credit cards and carry more debt than s sensible, and given that she had savings it does look as though she was in fact in a position to manage the debt - she made a financial unwise choice in paying the interest rather than using her savings to clear the debt, but that doesn't mean that there was any wrong ding on the part of the card company.