' Am I Responsible for My Parent’s Credit Card Debt? - Law Offices of Robert M. Geller, P.A.

Am I Responsible for My Parent’s Credit Card Debt?

am i responsible for my parents credit card debt?As we grow older, our parents also age. Sometimes they become dependent on us in many ways. Even if they aren’t dependent, they might pass on debt through their estate once they pass.

One of the burdens that adult children sometimes bear is the responsibility of their parent’s credit card debt.

What should you know about your parent’s credit card debt?

Understanding the Legal Framework

Credit card debt comes with a legal framework that defines the relationship between the creditor and the debtor. In a case where your parent dies, the lender cannot charge you for their credit card debt. Debts are not passed down to the heirs of the deceased.

However, debt can affect the estate of the deceased. Creditors can collect on debts when the estate is settled. This means the money your parent owed them comes out of their estate. However, if there is no estate they’ll receive nothing.

Joint Account

If you have a joint account with your parent, the liability of the credit card debt is shared. You are liable for any debt that arises under the account.

This means that if your parent fails to pay their debt, the creditor can come after you for the full amount. It is upon you to determine whether or not a joint account exists so that you can take the appropriate measures.

Power Of Attorney

If you have a power of attorney, you have legal permission to make financial decisions on behalf of your parent.

However, this role does not allow you to incur new debt on your parent’s behalf. You are only allowed to manage the debts that exist before taking power of attorney. It is crucial to read the power of attorney document carefully to determine the extent of your responsibility for your parent’s credit card debt.

Paying Off Your Parent’s Credit Card Debt

Finally, if you discover that you are responsible for your parent’s credit card debt, you can take steps to deal with it. One way you can do this is by arranging a payment plan with the creditor. You might also be able to negotiate a reduced settlement amount than what you are required to pay. It is essential to consult a financial advisor before taking any steps to pay off your parent’s credit card debt.

If you are struggling with a parent’s credit debt, it is essential to consult a financial advisor or a legal expert to help guide you through the process. Remember, taking responsibility for your parent’s credit card debt can negatively impact your credit score, so it is essential to understand your liability.

If you’d like to know more about dealing with your parents’ debt or you have questions about the debts of others that can affect you, we can help. For more information, contact the Law Offices of Robert M. Geller at 813-254-5696 to schedule a free consultation with an experienced attorney.


Video Testimonials

Tampa Bankruptcy Law Blog

How Long Should I Keep My Bankruptcy Discharge Papers?

If you've successfully navigated the bankruptcy process and received your discharge papers, congratulations are in order. It's a significant milestone...
Read More

Can I Lose My House If I File for Bankruptcy

The potential loss of your house when filing for bankruptcy depends on various factors. These include the type of bankruptcy...
Read More

What Can You Write Off in Bankruptcy?

Many people filing for bankruptcy aren’t sure what debts can be discharged, or "written off," through bankruptcy. It’s important to...
Read More

How Often are Bankruptcies Denied?

Bankruptcy offers a lifeline for people drowning in debt. It provides a chance to start anew and regain financial stability....
Read More

How Much Debt Should I Have Before Considering Bankruptcy?

Dealing with overwhelming debt and financial hardship is difficult. The prospect of bankruptcy may offer a path toward relief, as...
Read More

How Long Does Chapter 7 Bankruptcy Take to Discharge?

Chapter 7 bankruptcy offers a fresh start and a path toward financial stability for people struggling with debt. But when...
Read More

Does Business Bankruptcy Affect Personal Credit?

Does Business Bankruptcy Affect Personal Credit? For entrepreneurs and business owners facing financial challenges, the prospect of business bankruptcy can...
Read More

Can I Get an Apartment After Filing for Bankruptcy?

Filing for bankruptcy often feels challenging and overwhelming. It also raises a variety of concerns. One of the most common...
Read More

Are SBA Loans Dischargeable in Bankruptcy?

Navigating the complexities of Small Business Administration (SBA) loans and bankruptcy can be a daunting task for many business owners....
Read More

How to Get Bankruptcy Off of Your Credit Report

Rebuilding financial health after bankruptcy is challenging, but that doesn’t mean filing is worth the effort. One common concern for...
Read More


For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More


We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

Call For A Free Initial Consultation


Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions