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What Happens to a Person's Debt When They Die?
Welcome to The Funeral Channel Network, brought to you by The Funeral Program Site. What happens to debt when someone dies, and can creditors legally require surviving family members to pay it? In this episode, we explain how credit card balances, medical bills, mortgages, car loans, and other financial obligations are handled after a person passes away.
Understanding debt when someone dies begins with recognizing the difference between the deceased person’s estate and the surviving family’s personal finances. Learn why the estate generally pays valid debts and why spouses, children, and…
The skinny
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