I believe many friends who hold credit cards will have this question, that is, if I die one day, what will happen to my credit card? I once saw the news that a man committed suicide because he could not pay off his credit card debt. He believed that he should bear the responsibility for the mistakes he made and did not want to harm his family, so he wanted to die to pay off the debt. There are a lot of news like this, and this seemingly responsible move is actually stupid. When a person dies, will the credit card balance be purchased and sold in one lump sum? Of course not. After the person dies, who will pay the credit card debt? Today I will talk to you about this issue in detail.
This question needs to be answered in two situations. The first situation is that the debtor leaves a house, car and other property after his death. The other situation is that the debtor no longer has any savings in the world. Below, I will analyze it for you from these two aspects.
1. The debtor leaves property in the world
If the amount of debt left by the debtor is not large, the bank will cancel his account, terminate all his credit card rights, and will not pursue the debt. . But if the amount owed is large, the bank will recover the arrears. If the debtor leaves an estate and legal heirs, the debtor's debt shall be borne by the heirs. Because the law stipulates that the debts of the debtor are also counted as part of the estate. Therefore, the heirs of the debtor should first pay off the debt for the debtor and then dispose of the remaining inheritance. However, the heirs only need to repay the debt within the scope of the estate. If the inherited estate is not enough to repay the debtor's debt, the excess does not need to be repaid. Of course, if the heir chooses to give up the inherited property, he will not have to bear the debt of the debtor.
2. The debtor does not have any property in the world.
It would be okay if he had property. If the debtor dies without leaving any property, does his debt still need to be repaid? Who will pay it back? If the debtor was married and had a spouse during his lifetime, and the credit card application and consumption occurred within the marriage, then the debt after his death should be repaid by his spouse. Because the credit card debt he overdrafted belongs to the joint debt of husband and wife, many people will find it unfair. However, relevant laws of our country stipulate that the joint debt of husband and wife must be borne by both husband and wife. If one party dies in an accident, the other party To shoulder this responsibility, if you really encounter this situation, you can only admit that you are unlucky.
If the debtor has no inheritance and no spouse during his lifetime, the bank will not be able to find anyone to pay off the debt, and will not be able to collect the debt, and the debt will be lost. If it becomes a bad debt, it will be borne by the bank and will not affect the debtor's brothers, sisters and parents. Some friends think that the bank is so unlucky that it has to bear such an inexplicable debt. In fact, in this case, it is reasonable for the bank to bear this debt. Because banks have to conduct a series of risk assessments when issuing credit cards to users. Now that the bank has approved the borrower's credit card application, it should take this unexpected risk into consideration.
The above are the related questions I have summarized for you about "What should I do with my credit card when a person dies?" I hope it will be helpful to everyone. Finally, I would like to remind everyone that you must overdraw your credit card within a reasonable range and fully consider your own situation, otherwise the gain will outweigh the loss. If problems arise, you should communicate with your family promptly and avoid thoughts of suicide.