Your liability is limited to extent of your inheritance
if you have not inherited any property you are not liable to pay any debts
Father's credit card debt
Sir, My dad had passed away two weeks back. He had many credit cards. He used his credit cards most of the time as his income was high. Thus he had inccured a substantial debt on his card. I wanted to know can the banks take legal action against me for not paying his debt? If they pursue any legal action should be my immediate recourse? I am in no position to pay this as my income is nowhere near his. Thanks Sabyasachi Sarkar
Asked 1 year ago in Business Law
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8 Answers
the banks cannot take legal action against you for your father's unpaid debt. The liability of any debt incurred by your father is solely his, and his estate is responsible for the payment of such debt. However, if there is any co-signer on the credit card account, then they may be held liable for the debt. Therefore, you have no legal obligation to pay your father's debt. If the banks pursue legal action against you, you should immediately seek legal advice and protection.
You are not liable to pay the personal loans availed by yo father through credit cards.
As a matter of fact none of the legal heirs are liable to pay them, provided nobody has inherited the movable or immovable assets left behind by your father who is reported to have died intestate.
Don't worry about any case that may be filed by the credit card company for default in repayment of loan amount, they have to approach civil court only for recovery, at that time if you have acquired any property from your father then you would be liable to that extent to repay his personal loans.
You don't have to pay his debt If you havent inherited his property
- Under the Hindu Law, a son is under a pious obligation to discharge his father's debts out of his ancestral property regardless of the possibility that he had not been profited by the debts.
- Further, if the debt is purely personal debt of the father, then it cannot be passed over to the legal heirs.
- Further, the Lender cannot get order of attachment property of son for the debt of your father, because father and son`s assets will be treated as their respective separate properties.
- Hence, if you got property of father both movable or immovable properties through inheritance then only, your liability to pay the debs, after selling those inherited property., otherwise the bank cannot recover the debt from you.
Dear client,
I am sorry for your loss. Generally, the credit card debt is considered the liability of the person who incurred it. Therefore, unless you co-signed or guaranteed the credit card debt of your father, you are not personally liable to pay off his debts. However, the credit card company may try to recover the debt from your father's estate by making a claim against his assets.
As the legal heir of your father, you may need to manage the estate's affairs, including the payment of his debts. It is essential to consult with an attorney or a financial advisor to understand your rights and obligations as a legal heir and the executor of your father's estate.
If the banks or creditors pursue any legal action against you, you may need to hire a lawyer to defend your case. Your lawyer can review the situation and advise you on the best course of action to protect your interests. Additionally, you may consider negotiating with the creditors to settle the debts or work out a payment plan that suits your financial situation.
They can recover it from your father's property... therefore try to contact banks...write proper application citing your problem and ask for tym to repay debt.
1. The legal heirs of a deceased man will inherit the debt of the said deceased person to the extent they have inherited his properties.
2. So, if you have not inherited any property from your late father then you won't have to settle his debt.
