Both owners of a joint credit card are equally responsible for paying off the balance on the card. When one dies the Survivor is responsible for the full balance.
If you are a joint account holder you can still use the card. The creditor should be notified of the death of the other account holder. They may simply remove the person from the account or require you to open a new account in your name. However, if you are the joint holder you are responsible for the entire amount owed on the account.
Illinois is not a community property state, therefore a spouse who is not a joint account holder is not responsible for the credit card debt of the other spouse.
No you must close the account.
Yes, as long as your listed as a "Co-signer" on the account. Credit is not build if you are just an "Authorized User" if this was a credit card account. Lastly, this all assumes that whatever this joint-account is that it reports to credit.
It seems like you are asking what happens when one joint account holder dies. I believe that most joint bank accounts are set up so that the surviving account holder would have legal possession of the full balance, the same as he did before the death of the other joint account holder.
The daughter now owns the bank account and everything in it.
A joint account holder cannot be removed from the account, the account will have to be closed.
No, credit card accounts are not transferrable. It might be possible for the person to become a joint account holder, but that would depend upon the card issuer's lending policy.
If this relates to a joint account holder or cosigner, then yes the person's credit rating will be affected by a repossession. Yes, whoever's name the car is in will be affected by the car's repossession. Only if the car is somehow tied to the account. Only a bad payment history on that joint account can affect your credit.
If the cardholder has an estate, the credit card company can pursue that. In practice they don't really do that. If the account is a joint account, the other account holder becomes wholly responsible for the debt. Otherwise the bank eats the money.
No. Only is she became a joint account holder, then both persons credit would be affected if any default occurred.
First of all you can just give a friend your username and password and stop playing!!!