Any one know what happens to debt when you die?

[SkepticalAsshole]

I'm curious because I have 10 grand in credit card debt with 3 dollars in my bank account.

I'm concerned when I do end my suffering debt collectors will hassle my friends/family. Or even try and sue my parents who I am living with.

 

[war-is-lost]

If it is not a supplementary card tied to someone else. You debt would be written off as bad debt assuming you have no other asset in your estate.

 

[Jon86]

The credit card company transfers the bill to the Devil to collect.

 

[typx]

CC companies will sometimes try and trick remaining family into taking on the debt but they have no legal obligation to do so.

 

[SkepticalAsshole]

Thanks for the replies. Since the only "assets" I have are my 400$ TV and an Xbox one it sounds like the devil is gonna have to collect the rest off my tortured soul.

 

[comfortablydumb]

It may depend on which country you live in, but if you live in the US or Europe, for example, then your debt is just money that the CC company loses forever and cannot collect from anyone.

This is assuming that you have no other assets of any value.

 

[GloryGloryGlory]

Not sure what country you're in, but in the US credit card companies and the like just have to count it as a loss, unless it's physical items or goverment debt (cars/houses/property tax)

source: Had to deal with this shit when my dad passed away

 

[Luke]

Credit card debt is not transferable. At least in my jurisdiction. It's not much but covers the cleanup.

 

[itsallover]

I maxed out my credit cards and might have to file for bankruptcy. I depended on them because I was unable to work. Now that I am really thinking about it, why do I want to work and have all the "great things" this world has to offer. Burn myself out at a job that I hate so that I can hopefully vacation once or twice a year. Then have a beautiful family which is most likely to end in divorce, child support, and alimony payments. Forget it. All I wanted was simple existence. I can't even have that now. Thanks God. Not to offend the religious, but a lot worse has happened to me than a lot of other people and I don't think a creator would allow any of his creations to suffer so much as humans do.