Credit card obligations after a death
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Posted by AJ (129.109.166.146) on April 25, 2002 at 11:15:46:
My father recently passed away unexpectedly. He had one credit card with about a $12,500 balance at his time of death. His credit was always flawless with no missed payments on any of his loans ever. He transferred balances to this particular card to take advantage of a introductory APR of 1.7% that I believe will be ending within the next few months. He did not have a will of any kind that we know of. My mother continues to live in Florida where my parents have lived the past 2.5 years. Is my mother now responsible for this debt even though she was not a co-signer nor an authorized user? There are still a lot of questions to be answered in this case... Automobile insurance payments may or may not be involved depending on the cause of death determined by autopsy, medical insurance might not cover all expenses for a two month stay in the intensive care unit (who knows what the final cost will be, no bill yet), possible malpractice case against care givers, etc. An estate is being set up currently, but I am not sure exactly what that even means for sure. Does my mother need to keep making payments for the time being? Will the APR on this account be frozen to allow payments over time from any estate funds that may or may not be available? Do any credit cards have built-in credit life policies or would this only be the case if there was optional credit protection coverage? I was not able to find a copy of the credit agreement for the card. If anyone can give me some advice it would be appreciated. I need to contact MBNA but want to have some information before facing the beast. Thanks,
AJ
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