Why dont people who kill themselves take money out of their credit cards and give it to their family? Does the family have to pay it back?
- Dan BLv 71 week ago
Most likel they will if the credit card company goes to court.
- SCATTY cLv 53 weeks ago
Any debt at death - that includes credit card debt - needs to paid off from your estate. So if you have savings in the bank, assets - including house, jewellery etc - that needs to be sold to clear debts. anything left is then distributed according to the wishes of your will
- AmyLv 73 weeks ago
Yes, gifts given "in anticipation of death" are counted as part of the estate.
If the deceased person's remaining assets (e.g. selling their house) do not generate enough money to pay the debt, the creditor can indeed demand that the recipients of the gifts pay it.
- babyboomer1001Lv 74 weeks ago
There is no money in credit cards. There is CREDIT in credit cards. Of course that money would have to be repaid. It's called debt and every (adult) dead person has an estate. The estate must pay ALL of the debts of the deceased before the rest of the estate (belongings of the deceased) can be distributed to the heirs. The person responsible to pay all of the debts is the personal rep of the deceased, duly appointed or appointed by a court.Source(s): Certified Paralegal, with 25+ years' experience & with Wills & Estates law experience.
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- MichaelLv 74 weeks ago
Safe to assume that once a credit card issuer finds out that someone killed themselves shortly after taking a cash advance that they will come looking for their money. As a creditor, they will be in line ahead of the family when it comes to settling the person's estate. If the estate can't repay the debt, it is entirely possible that the credit card issuer could decide to sue the family under the premise that the money was obtained through credit card fraud and that the family should not be allowed to profit off of their family member's criminal act. If someone robs a bank and gives the money to their family, the family doesn't get to keep that money either.
- 4 weeks ago
You're basically advocating before you kill yourself to steal as much as you can steal and give it to your family if you have no intention on paying the money back that's felony theft.
And if the credit card company finds out that the person did exactly that and that the family took the money that's conspiracy to felony theft.
- Ding DongLv 64 weeks ago
If someone dies and they have debts, the creditors will try to get it from the family but really there is nothing they can do if the family says "it's not my debt so I won't pay", the creditor just hopes they will pay. Some people will have done that and credit card lenders have it written into their business model that they will never get back all the money they lent out. Really though most people are honest and won't do that even if they are suicidal. If someone dies with debt the creditors can get it from the person's bank account, sales of valuables or leftover wages however, which they will usually have. If they ever saved in a pension scheme then that can be taken to pay debts too. If that doesn't cover the debt then it's hard luck to the lender, that is the cost of business.
- Anonymous4 weeks ago
Why would you assume that all people who commit suicide are also thieves?
If you killed yourself, do you think your mother would say, "Yeah, my kid offed himself but I'm ok with it because I got $1000 out of it. Smart kid!"
- StephenWeinsteinLv 74 weeks ago
They don't have time. Most suicides happen within 5 minutes of deciding to commit suicide. The UK discovered that simply packaging differently was enough to prevent suicides, because a suicidal person wouldn't take the time to get the medicine out of the packaging.