Tuesday 25 December 2012

Does Credit Card Debt Die With You?


Losing a loved one is always a time of high stress and confusion. Many issues that arise are somewhat expected: a mountain of credit card debt typically catches grieving family members by surprise and without the slightest clue about how to handle creditors. Drop Debt Coach, Harvey Z. Warren says that even he was bewildered by this question.
Recently, a friend of his lost his father, let's call him Edward, unexpectedly at 67. After reviewing his father's affairs with his sister they faced a big surprise - twenty-one credit cards with an outstanding balance of just over $110,000. The friend called Harvey in for some hands-on help to clean up Edward's mess and put a stop to the inevitable deluge of collection calls.
His first question was, "Are we on the hook for Dad's debt?"

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