Credit card debt after death.

[HectorOldbranch]

Just a quick bit of advice needed. My father died a couple of weeks ago and we're in teh middle of clearing up the bits n bobs. He had a credit card which has a balance of about £3.5k on it. I called the card company and they have said that no problem dont pay anything now we'll put it all on hold until the estate is settled.

My mother will obviously have to pay this at some time but at the moment I doubt she has that money available ( like many older folks asset rich cash poor ). Is it likely that the credict card people will allow it to be paid £200 a month or so or will they want it all back in one lump ?

cheers

Guy

[VXRTOM]

They will allow you make it in installments, but I would imagine there will be interest involved

[HectorOldbranch]

Thanks for that.

Interest is fair just so long as they dont expect it all in one go. Dad used to use it to pay his tax bill and then pay it off a few hundred a month over the year, if mother can pay it off on the same basis it should be fine.

[mcflurry]

Does the estate have the funds to pay the debt?
AFAIK if the estate does, then the card should be cleared, if the estate doesn't have the funds then the debt dies as it's not secured.

[HectorOldbranch]

mcflurry said:

Does the estate have the funds to pay the debt?
AFAIK if the estate does, then the card should be cleared, if the estate doesn't have the funds then the debt dies as it's not secured.

The estate is worth a lot more than the debt but father just didnt have much cash in his account when he died.

[audi321]

Refuse to pay it, most credit card companies/banks will write off unsecured debt (such as credit cards) upon death.

Edited by audi321 on Friday 4th September 10:53

[ACEparts_com]

My dad died (exactly the way he always wanted to, when he said he wanted to whilst doing something he loved so it's not all doom and gloom) exactly 1 month ago. My mum went to the bank and they said "Do you want to pay off his c/card debt of about £1000" - No was the reply and that was the end of that.