Re: Credit card debt of parent
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Posted by Ezra_One
(66.1.66.120) on March 16, 2003 at 00:44:43:
In Reply to: Re: Credit card debt of parent posted by Why Chat on March 15, 2003 at 22:53:30:
Again - no problems of fraud. Her charges are her own. But what would prevent a CC company from running credit checks against me? Should she die...why wouldn't they run every possible ploy to get "paid"? I think that is the point that was being made....am I to assume that one or several CC companies are just going to say "oh well...she died...I guess we lost all that money..". I would hardly think so and besides, that is why I have doing some research. I guess it goes back to filing insolvency or bankruptcy for her but that adds a whole other level of complexity. How will she get her meds? It's not like everyone wants to make medicine affordable for the retired... As far as the Insurance agent - he is also a financial consultant - Several insurance policies I have for my children accrue worth - at some point in time, I can roll that policy over to my kids when they get older [they can borrow against the worth or keep the policy as a "starter" life insurance policy] or I can cash them out when they are "on their own" I said the same thing to him - how could the CC companies come after me for her debt? He said that they could hound me, run credit checks or sell the account to some collection agency just to get some bucks back. Regardless - better to be safe than sorry.
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