debt when someone dies Tag

Dying with Debt – Who Is on the Hook to Pay It Back?

Debt is something many American grapple with. In fact, the average U.S. household with credit card debt carries close to $7,000 in revolving balances, or balances carried from one month to the next, according to NerdWallet. Given the prevalence of debt in our society, an important question needs to be answered: "If you die with an outstanding debt (whether it be a credit card, personal loan, student loan, mortgage, etc.) who or what will be responsible for paying it back?” The laws pertaining to debt after death vary by state so there isn't a single answer to this question. Nevertheless, in general, people...

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