Does credit card debt still affect children when people die?

This is divided into two situations, depending on whether you have a legacy.

1. If the person who owes the credit card is no longer alive and has no inheritance under his name, then the bank may not ask your parents to pay back, because our country's law does not stipulate that the debt will be paid by the father. But if you have a spouse, the money owed by the credit card is used for their daily living expenses, then your spouse must pay your debts, and because you are overdue, it will affect your spouse's credit, because the husband and wife share credit after marriage.

Credit card arrears will not bring trouble to family members, because credit cards are personal limits based on personal credit status. After the death of the cardholder, the bank will first deduct the relevant arrears from the repayment account of the deceased. If the balance of the account is insufficient, the bank can take legal proceedings, and the court will enforce the personal property under the name of the deceased and the part of the common property belonging to the deceased to repay the arrears. In addition, if the family inherits the deceased's estate, it needs to repay the debts for the deceased, but it can bear the responsibility for repayment within the scope of inheriting the estate. If the family renounces the right of inheritance, there is no need to pay off debts for the deceased.

2. If you owe money to your credit card and die, and you have real estate, automobile products, etc. In your name, your heir will help you pay back the money. If the heir gives up the inheritance, the bank will auction your inheritance and freeze the money in your bank card, and then use the money in your bank card to settle the auction. After deducting the money owed to your credit card, it is more likely to be turned over to the state treasury or given to your heirs. If the heir is a spouse, even if the spouse does not give up the inheritance, the inheritance will be auctioned for repayment without repayment.

Consequences of overdue repayment of credit cards

The consequences of overdue repayment of credit cards are serious, and overdraft consumption should be moderate. Although the biggest feature of credit card is overdraft function, it actually constitutes the loan relationship between customers and banks. Failure to repay at maturity may not only cause legal disputes, but also bear high penalty interest. The most important thing is to form a bad credit record, which will adversely affect future work and life.

1. Consequences of overdue repayment of credit card 1: bear high penalty interest. After the credit card defaults, the liquidated damages usually involved are the revolving interest fee and the late payment fee. The essence of revolving credit is a small, unsecured loan with daily interest. If the repayment is not made in full on the last repayment date, revolving credit interest will be generated on the next statement, and the interest needs to be calculated from the date when the consumption is recorded.

Legal basis: Article 159 of the Civil Law of People's Republic of China (PRC) (hereinafter referred to as the Civil Law) stipulates that when the estate is divided, the taxes and debts payable by the decedent according to law shall be paid off; But the necessary inheritance should be left to the heirs who lack the ability to work and have no source of income.

2. Consequence 2 of overdue repayment of credit card: causing legal disputes. Credit card violent collection has become a hot topic. Many credit card centers of banks outsource the collection of credit card repayment to some so-called "debt collection companies". The quality of these companies is mixed, and the methods of debt collection are rough, which brings great trouble to customers.

3. Consequences of overdue repayment of credit cards: leaving a "credit stain" in the national credit information system. As long as you have applied for a card or borrowed money from a bank, your own "credit report" will be automatically generated in the system. The "stain" in this report can't be ignored, and it will affect all kinds of applications for loans, insurance, job hunting and studying abroad. Bad records are generally kept abroad for 7 years. Citizens' overdue negative records are no longer accompanied by life. If they can repay in full and on time within five years, they will be able to repay their credit.