It’s unfortunate, but many people who pass away leave behind a mountain of debt. I know that this can be concerning to family members left behind as they aren’t sure if they will have to inherit the debt of their deceased family member.
When you’re struggling with debt, there are a variety of options you can consider. In some instances, filing for bankruptcy is the best choice; although, it should always be the last resort. If you are insolvent, you may be contemplating this strategy.
Typically when someone dies, their personal debt does not get passed on to surviving family members. Their debt belongs to them and them alone; it is not passed on to their family members when they die.
Managing debt after divorce can be overwhelming for many people. Take solace in knowing that you’re not alone.
I have many married couples ask me if one spouse can file bankruptcy without it affecting the other. The answer always depends on their personal situation.