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Posted by
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What does a credit card company do..............
Posted by TBubba on 2/19/09 at 9:07 pm00
when an old lady who owes them 15000 dies. Do they just write it off or try to collect from the people she leaves her stuff to?
re: What does a credit card company do..............Posted by jmtigerfan on 2/19/09 at 9:24 pm to TBubba
I'm pretty sure they try to collect from the heirs.
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They might try to collect, but they can't in most cases...so don't listen, tell em to go hump air.
quote:
when an old lady who owes them 15000 dies. Do they just write it off or try to collect from the people she leaves her stuff to?
They might try to collect, but they can't in most cases...so don't listen, tell em to go hump air.
quote:
They might try to collect, but they can't in most cases...so don't listen, tell em to go hump air.
what he said.
They could file a lawsuit, and frick up probate. But the trick is not to tell them she died. They won't know unless you tell them.
I would think if you did that, and took the proceeds from the estate, and they then found out she had died and went to claim their debts, they could pursue damages against the heirs, especially in the event that they could prove intent to deceive.
re: What does a credit card company do..............Posted by Alltheway Tigers! on 2/19/09 at 9:50 pm to MileHigh
Debt of her estate.
If they find out, they will file a claim against it to be include in the probate process.
If they find out, they will file a claim against it to be include in the probate process.
quote:
They could file a lawsuit, and frick up probate. But the trick is not to tell them she died. They won't know unless you tell them.
I was thinking..string em out for 6 months..do pay em shite..offer them 50 cents on the dollar..
quote:
I would think if you did that, and took the proceeds from the estate, and they then found out she had died and went to claim their debts, they could pursue damages against the heirs, especially in the event that they could prove intent to deceive.
you could claim ignorance. And $15,000 isn't that much money. They would probably ignore it.
re: What does a credit card company do..............Posted by LSURussian on 2/20/09 at 8:02 am to kfizzle85
quote:
I would think if you did that, and took the proceeds from the estate, and they then found out she had died and went to claim their debts, they could pursue damages against the heirs, especially in the event that they could prove intent to deceive.
Plus criminal charges for fraud...
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re: What does a credit card company do..............Posted by Parliament on 2/20/09 at 11:47 am to TBubba
Do the right thing and pay them their $15k before dispersing her assets to her heirs.
How is that kind of greed and different than the Madoff/Stanford type of greed? Or people defaulting on their overpriced houses?
How is that kind of greed and different than the Madoff/Stanford type of greed? Or people defaulting on their overpriced houses?
Ok, here's a scenario for you:
What if grandma is diagnosed with cancer and is given 2 years to live. She knows she's gonna die. She's got $15,000 in CC debt, but also has a lot of assets (cash, a house, etc.)
Since she knows she's going to die, she start giving her heirs their inheritance. i.e. she just starts giving them cash and she donates the house to one of the kids, or sells the house and gives the cash to the kids.
So that when she does die, she has no assets but still has the $15,000 in debt. What happens then?
What if grandma is diagnosed with cancer and is given 2 years to live. She knows she's gonna die. She's got $15,000 in CC debt, but also has a lot of assets (cash, a house, etc.)
Since she knows she's going to die, she start giving her heirs their inheritance. i.e. she just starts giving them cash and she donates the house to one of the kids, or sells the house and gives the cash to the kids.
So that when she does die, she has no assets but still has the $15,000 in debt. What happens then?
quote:
So that when she does die, she has no assets but still has the $15,000 in debt. What happens then?
Wiki, you can't do that. If it was that easy everyone would just write a check to their heirs while on their death bed to avoid all of their debts, avoid probate, avoid inheritance taxes, etc, etc, etc.
quote:
Wiki, you can't do that. If it was that easy everyone would just write a check to their heirs while on their death bed to avoid all of their debts, avoid probate, avoid inheritance taxes, etc, etc, etc.
you can't take out cash and give it to your children? i'm not saying it's legal, but it's possible.
re: What does a credit card company do..............Posted by Martavius on 2/20/09 at 1:10 pm to jmtigerfan
quote:
I'm pretty sure they try to collect from the heirs.
Heirs and next of kin are not responsible for the debt. It can be collected from the estate if there is one but since it's unsecured, they are pretty low on the priority scale and if an executor decides not to pay them, there's really only limited action they can take to collect.
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