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Alger Bankruptcy Services


Same team, new name

Alger & Associates personal bankruptcy services are
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Grant Thornton Limited

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Edmonton, Calgary bankruptcy Q&A forum

Question:

 

Hi.... A couple is married and the husband passes away. the husband had $50,000 in credit card debt. The card was in his name. They have about $500,000 in equity in the house. Is the wife responsible to pay off the debt? thanks


From:

 

Grant Thornton Limited

Date:

 

Aug 22, 2014

Answer:

 

Fred The surviving spouse would be liable if he or she were a co borrower or guarantor. The deceased estate would however be liable for the debt and the Executor would need to review what assets fall into the estate to determine if there are funds to pay the debt. In these circumstances it would be a good idea to talk to a lawyer specializing in Wills $ Estates, please call me and I can refer you to a lawyer who can assist you. Thanks for the question.

Marie Kozlowski
T 403-296-3082
Marie.Kozlowski@ca.gt.com

 

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