Deceased Debt Feed Link

Deceased Debt

When a consumer passes away owing money, the debt is satisfied in the deceased debt collection or probate process. If the deceased leaves an estate that is valued above the debt, then creditors will typically be paid off. Secured debt is also usually satisfied. But the probate process can become very complicated based on where a consumer was living, where in the collection process certain accounts were at the time of death, and if debts exceed the value of the estate.


CFPB Targets Bank of America Credit Card Services, Debt Complaints

Bank of America is duking it out with the Consumer Financial Protection Bureau over allegations that it deceived customers in the sale of credit card add-on products, specifically a debt cancellation service. The bank advertised that its services could ease consumer payment obligations in case of job loss or other major life changes. Bank of America […]