What Happens to Credit Card Debt When You Die:  Get the Knowledge to Protect Your Assets

What Happens to Credit Card Debt When You Die:  Get the Knowledge to Protect Your Assets

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What happens to credit card debt when you die is a question that may seem difficult to answer. The last thing you want to do is leave your heirs with unwanted liability from unpaid credit card debt.

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We will unpack the issues at hand and offer the knowledge you need to protect yourself and your family.

First, do not incur more debt, even with an authorized user. It is considered fraud if you are not the primary user.

What To Do After a Cardholder’s Death

After your death, your assets are used to repay your credit card debt. Then, the remaining assets are distributed to your heirs.

How the Creditors Are Paid Back

That means that your estate is insolvent. In this situation, your heirs may have to repay your credit card debt.

What If You Owe More Than the Sum of Your Assets?

Credit card debt is considered the lowest priority over other obligations, like secured loans backed by collateral.

Assets You Cannot Use to Repay Creditors

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