What happens to the debt of a deceased person?

+1 vote
asked Mar 13 in Credit by Amonsg (330 points)
What happens to the debt of a deceased person?

When a person dies what happens to their debt? I mean they can't pay for the debt when they're dead so how does the debt collectors handle the debt of a deceased person?

1 Answer

0 votes
answered Mar 14 by Larry S (16,630 points)
If the person doesn't have any assets that can go into paying the debt off then they debt collectors will only be able to write the debt off as a loss.

Now if a person has assets such as a house, car etc that the persons family doesn't get after the persons death then the assets will likely be sold to recover the debt after the person dies.

7,690 questions

7,987 answers

24 comments

164,981 users

...