My question involves collection proceedings in the State of: New Jersey
I have a grandparent who will probably pass away in the near future, who has several thousand dollars in credit card debt and far less in assets that what will be needed to cover it. Relatives of this person who may be named as beneficiaries will not able to cover this amount of debt, and I was wondering what would be the state of affairs after their death. As far as I know, this person has not cosigned on any of their credit cards, bank loans, etc. This person had opened a custodial bank account in both my name and their name several years ago that is still active, but otherwise, I am not financially connected to this person in any way, and as far as I know nobody else is either. Is there any information available to me about what may happen in New Jersey? Thank you guys in advance.
I have a grandparent who will probably pass away in the near future, who has several thousand dollars in credit card debt and far less in assets that what will be needed to cover it. Relatives of this person who may be named as beneficiaries will not able to cover this amount of debt, and I was wondering what would be the state of affairs after their death. As far as I know, this person has not cosigned on any of their credit cards, bank loans, etc. This person had opened a custodial bank account in both my name and their name several years ago that is still active, but otherwise, I am not financially connected to this person in any way, and as far as I know nobody else is either. Is there any information available to me about what may happen in New Jersey? Thank you guys in advance.
Estate Assets and Debts: Waht Happens to Your Credit Card Debt After Death
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