What to do if the credit card debtor dies

If the credit card debtor dies, his estate needs to be used to repay the debt. If there is no inheritance, the debt will be extinguished. If the heir has inherited an inheritance, he will be responsible for repaying the credit card debt within the scope of the inheritance. Article 1161 of the Civil Code: The heir shall pay off the taxes and debts that the deceased should pay according to law within the actual value of the inheritance received. This does not apply to the amount that exceeds the actual value of the estate and is voluntarily repaid by the heirs. If the heir gives up the inheritance, he will not be liable for the taxes and debts that the deceased should pay according to law.

What to do if someone dies before paying off the credit card

1. If the cardholder dies due to an accident, such as a car accident, medical accident, etc., the cardholder will definitely receive a sum of compensation. If the family members cooperate with the cardholder in repaying the card, the bank may take back the repayment. If the family members do not cooperate, the bank will recover the arrears. If the debt is greater than the legal fees, it is possible. If the debt is less than 500, it is basically considered a bad debt.

2. If the cardholder had property during his or her lifetime, a sum of money may be kept at home or in a bank other than the issuing bank of the cardholder's credit card. Immediate relatives can use this part to pay off the card debt.

3. If the immediate family member does not have the capacity for civil conduct or the ability to repay the loan, the bank will look at whether the card owner has any property or inheritance. If there is no property or inheritance, the bank will treat it as a bad debt.

4. Things other than bank deposits are houses. First of all, private houses cannot be bought or sold. Assuming it is a commercial house, if the area is less than 65 square meters, if the bank arrives, the judgment will not be executed.

5. The debt incurred by the overdraft credit card is the joint debt of the husband and wife and should be repaid by the joint property of the husband and wife. If the joint property of the husband and wife is insufficient to repay the debt, the cardholder shall have no other personal For property, the other spouse should still continue to repay.

The inheritance after the death of a citizen should be divided after the debts of the deceased have been paid off. If it is found after the division that the deceased has unpaid debts, the heirs should repay the relevant debts within the limit of inherited property.

What should I do if the credit card is not paid back and the cardholder dies?

If the credit card is not paid back and the cardholder dies, the payment shall be repaid by the legal heir who inherits the estate, or by the spouse. If the legal heir does not inherit the inheritance, he does not need to repay the credit card debt. If the cardholder does not have a spouse or a legal heir to inherit the estate, the bank will not pursue the credit card debt from his relatives.

Bank regulations on death arrears are not comprehensive, and only some banks have relevant regulations on death arrears. Our country's "Succession Law of the People's Republic of China" and "Marriage Law of the People's Republic of China" have clear provisions on death arrears.

According to Article 33 of the "Succession Law of the People's Republic of China": The inheritance of the estate shall pay off the taxes and debts that the deceased should pay in accordance with the law. The actual value of the inheritance is limited. This does not apply to the amount that exceeds the actual value of the estate and is voluntarily repaid by the heirs. If the heir gives up the inheritance, he will not be liable for the taxes and debts that the deceased should pay according to law.

According to Article 19 of the "Marriage Law of the People's Republic of China": If a husband and wife agree that the property acquired during the marriage shall be owned by each other, the debts borne by either husband or wife shall be regarded as If the three parties are aware of the agreement, the payment shall be settled with the property owned by either husband or wife.

Since death debts involve many issues, cardholders should go to banks and law firms to consult specific matters.

That’s it for the introduction of what to do if the credit card holder dies.