Jerry Taylor explains which debts disappear when you die. Federal student loans are automatically discharged, but mortgage, medical, and credit card debts pass to your estate or co-borrowers. Credit card balances may be negotiable.
Your debt generally does not go away when you die, but there is one type of debt that disappears. It's not mortgage debt. If there's a co-borrower, they're responsible, or if your family wants to take over the home, they have to assume responsibility for the debt. It's not medical debt. Your estate will likely be responsible for that. And it's not credit card debt. Again, your estate will be responsible, but you probably can negotiate with them. So the debt that dies with you is federal student loans. So if you're in your 70s and you still want to get that PhD, have at it. Now follow me and I'll keep you supplied with interesting stuff like this.
comment workshop.free still need plan to keep people out of court. learn how to in less than an hour
