Are debts forgiven upon death?

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asked Aug 16, 2020 in Credit by NahNahNiki (980 points)
Are debts forgiven upon death?

1 Answer

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answered Aug 16, 2020 by Minty (132,850 points)
Debts are not automatically or always just forgiven upon the persons death.

However if you die and then you have no other relatives or anyone such as a spouse that could be liable for your debts and you have no assets etc that the debt collectors can take then there's not much of anything that the creditor could do.

Once you're dead they cannot force you personally to pay the debt back and cannot take you to court etc.

But if you have a spouse living and they are on the same paperwork as you with the debt you owe and you die then the spouse would then become responsible for the debt you owe.

Or if you die and you have a house etc or other things you own then the debt collector could take those things including your house from you when you die to pay back all the debt owed.

If you live alone and own the house or anything else and the debt collectors do take the house or other things when you're dead then it won't really matter anyway because you won't need those things or the house anymore and you won't know about it either.

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