Quote:
Originally Posted by troutman
U.S. article on this topic:
http://www.creditcards.com/credit-ca...death-1282.php
If the assets don't cover the bills? "If there isn't enough money, credit card companies would have to, as my students say, 'suck it up,' " says Doug Rendleman, law professor at Washington and Lee University.
Creditors are notified that the estate is insolvent. They write off the bills, and often that's the end of it. Children, friends, or relatives can't inherit debt. A card company can't legally force someone else to pay. |
Not really all that useful information.
So much debt has been defaulted on in the USA that I think its actually become their Official National Sport.
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