Legal Question in Business Law in Georgia
What happens to credit card debt upon the death of the debtor?
Asked on 3/28/11, 1:36 pm
2 Answers from Attorneys
Glen Ashman
Ashman Law Office also dba Glen Ashman Attorney
It's owed by his estate. If the estate has assets it must still be paid, and, in most cases, debts are paid ahead of heirs. (There are exceptions for some widows and minor children under year's support laws).
Answered on 3/28/11, 1:40 pm
Kevin B. Murphy
Franchise Foundations, APC
As a Franchise Attorney I agree with the other attorney answer. The debt doesn't vanish when the debtor dies. It becomes a debt of his or her estate that must be paid out of estate assets. Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
Answered on 3/29/11, 7:48 am
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