Question

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?

Answer 1

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.