Credit Card debt after you expire

[HeartsOfFire]

Australian news tends to be pretty sensationalistic. I remember when the whole 'R18 rating for video games' controversy started coming to a head during state elections. I was constantly watching Australian news sources for up-to-date information, but some of the other stories that were featured on the sites would make FOX news blush. Either Australia is a frightening place, or the media there is doing their very best to make everybody afraid of everything.

[ma-skis.com]

my wife looked at her student loans and found out that if anything happened the loans just go away, and the debt is erased

credit card... not too sure about that.

[amorak]

Originally Posted by ma-skis.com

my wife looked at her student loans and found out that if anything happened the loans just go away, and the debt is erased

She mysteriously died the next day.

FYP

[Sr. Mints]

My dad died 11 years ago, and I remember my mom just faxing his death certificate to anyone who came looking for money. I don't remember any problems arising. They had their own credit cards in their own names, as I recall.

Incidentally, her Shaw account is still in my Dad's name because they make it so bloody difficult to change.

[Devils'Advocate]

Okay.... I'm a single guy with a medium sized house and a sizable mortgage. I was always worried that if I were to be hit by a bus, that mortgage would fall to the person I will the house to. And knowing the housing market was in a state of flux, I was worried that the person I willed the house to might not be able to sell it, thus being stuck with mortgage payments. So I had mortgage insurance, and replaced that with life insurance. But do I need either? Is there a way that the bank takes the loss on the house?

[afc wimbledon]

Originally Posted by Devils'Advocate

Okay.... I'm a single guy with a medium sized house and a sizable mortgage. I was always worried that if I were to be hit by a bus, that mortgage would fall to the person I will the house to. And knowing the housing market was in a state of flux, I was worried that the person I willed the house to might not be able to sell it, thus being stuck with mortgage payments. So I had mortgage insurance, and replaced that with life insurance. But do I need either? Is there a way that the bank takes the loss on the house?

There is no point in any insurance if you are single and have no one to leave money to, I have a 20 year kid, no wife and so have no insurance either, my kid will get several hundred thou' from the house and is on her own after that.

You die the house gets sold, the mortgage company takes what it can from that after the goverment has first dibs.