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Credit Card of a deceased family member with outstanding balances. What to do?

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darthvord


Arresto Menor
Hi,

My Mom died recently and we're trying to close off her credit card which still has outstanding balances. Unfortunately, none of the other family members, myself included has the financial capability to shoulder remaining payments.

My mom is the sole primary holder of the credit card by the way. What do we tell the bank, and how do we go about this?

Thanks very much!

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concepab


Reclusion Perpetua
darthvord wrote:Hi,

My Mom died recently and we're trying to close off her credit card which still has outstanding balances. Unfortunately, none of the other family members, myself included has the financial capability to shoulder remaining payments.

My mom is the sole primary holder of the credit card by the way. What do we tell the bank, and how do we go about this?

Thanks very much!

just tell them na patay na account holder

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AWV


Reclusion Perpetua
Inform the bank and send them death certificate enclose her bank details etc, but do not deliver it yourself as they may try to get you to pay for it! You'll never know you're luck with the bank's strategy on getting the relatives to pay for the debts!

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KingMike253


Arresto Menor
concepab wrote:
darthvord wrote:Hi,

My Mom died recently and we're trying to close off her credit card which still has outstanding balances. Unfortunately, none of the other family members, myself included has the financial capability to shoulder remaining payments.

My mom is the sole primary holder of the credit card by the way. What do we tell the bank, and how do we go about this?

Thanks very much!

just tell them na patay na account holder

Your suggestion is blunt. I laveeett!! haha XD

@darthvord, condolence po..

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KingMike253


Arresto Menor
AWV wrote:Inform the bank and send them death certificate enclose her bank details etc, but do not deliver it yourself as they may try to get you to pay for it! You'll never know you're luck with the bank's strategy on getting the relatives to pay for the debts!

They might ask you to sign something na akala mo para sa closure ng account ng Mom mo, un pala, shino-shoulder mo na ung pagbabayad.. Deceptive.

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darthvord


Arresto Menor
Thanks to all who replied.

I am actually thinking very hard right now, becuase I might get my own family into trouble if I contact them. How do I actually tell them that my Mom died without leaving them any contact info to avoid the possibility of them harassing me and my family?

FYI: I've been living separately from my Mom for more than a decade now, I moved out after I got married. My sister shares an apartment with my mom, she's a just a regular call center agent and is not really financially capable of shouldering the unpaid debts as I am. My Dad and Mom were separated (though not legally) He had a stroke last '07 and is declared as incapacitated legally and is just living off of his pension, I don't want the bank meddling with what my Dad has got left.

This is really putting a lot of stress on me lately. I want to have this over with but without any complications.

Please. Any legal advice will be highly appreciated. Thanks in advance.

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jd888


moderator
Having a credit card entitles the owner to conveniently purchase products and avail of services without having to pay in cash. But it also entails responsibility on the part of the owner to pay whatever amount he has expended using such credit card, as well as the penalties, interests and/or surcharges which he may have incurred.

Considering that your mother has already passed away, her estate shall be made liable for all her debts and other outstanding obligations. However, her heirs will be held liable to pay for her obligations if she has left no property, whether real or personal, to answer for the same. This is in line with Article 776 of the New Civil Code of the Philippines which states that inheritance of the heirs includes all the property, rights and obligations of a person which are not extinguished by death. In addition thereto, Article 781, id, provides that the inheritance of a person includes not only the property and the transmissible rights and obligations existing at the time of his death, but also those which have accrued thereto since the opening of the succession. (emphasis supplied)

Consequently, it is advisable for her heirs to inform the bank regarding the demise of your mother so that the bank can terminate your mother's contract with them insofar as her credit card is concerned and in order for the proper officers of the bank to send the heirs a copy of your mother-in-law’s billing statement. If you are the only heir left by your mother, it would be best for you to coordinate immediately with the bank and inquire whether or not your mother has pending obligations with them. If your mother has outstanding debt, it is important to settle the same before its due date so that your mother's estate or her heir/s will not incur any penalty or surcharges.


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Please be reminded that this advice is based solely on the facts you have narrated and my appreciation of the same. My opinion may vary when other facts are changed or elaborated.
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