If you can t afford to make your monthly payments on your credit cards, you may be wondering what happens if you don t pay them. If you have authorized users on your account, they are not legally responsible for the charges made on their accounts. However, even if they use the cards responsibly, they can still cause damage to your credit score. This article discusses some of the possible outcomes.
If you are unable to make your monthly payments, the creditor will try to remove your account from your credit report. They are also entitled to remove failed accounts from your credit report. If you have authorized users on your account, it is vital that you keep an eye on their accounts. This can help prevent your authorized users from creating a bad credit history. In addition, you should never make unauthorized purchases on other people’s accounts.
When you die, who will pay the credit card debt? If the credit card was joint with another person, the surviving spouse will be responsible for paying it. In community property states, the surviving spouse may be responsible for the debt. If the debts are solely owned by someone else, it will go to the estate. The debt collector may also ask someone else in the family to pay it, but it is illegal to tell someone they are responsible for the debt.