Hi Duane, If your brother had no house or property & only credit card debt, How can you or his daughter be in any way responsible for the debt. Most credit cards are unsecured loans hence the high interest rates. Is it different where you live as im in Australia?

 

As the administrator (executor) of my brothers estate, all debts have to be cleared to settle the estate, ie; the administrator in PA is responsible for all debts incurred by the deceased, in line of descent. Death does not release you from your debts in PA (and probably most other states).

Cheers, DPW [Live within your means and pay your bills on time]

 

I see, and if there isn't enough in the estate and it is liquidated, does that make someone else responsible for the remaining debts?

 

My father had a similar issue when he became the executor of my uncle's estate. My uncle had always paid his debts and had only 1 credit card, which had about 12$ charged on it when he died. The other side of the family snatched the card and bought a car & refurnished their house with it within a week, so by the time my dad got around to settling everything he had to pay it. He's taken them to court about it & still is, after 8 yrs battling with them over it.

 

In TN "the other side of the family" would have been charged with credit card fraud, then be forced to pay it off.

 

Go talk to the load officer at a credit union (NOT a bank) near you. You may have to shop around to find a CU for which you are eligible. A load of $42000 for 10 years at 7% a.p.r. would cost you just under $488 per month.
If you can't find a loan for the full amount, use the divide and conquer method. Pick the credit card for which you owe the least amount. Borrow that amount and pay it off with the proceeds of the new credit union loan. If you can't borrow the full amount, borrow what you can, and pay that credit card down. When one credit card is paid off, start on the next one.
It can be tedious but it works.

Just to confirm, you said & meant "load officer" correct? not loan officer?