What If you don’t cancel your credit card before you die?
Be sure and cancel your credit cards before you die!!
A lady died this past January, and Citibank billed her for February and March for their annual service charges on her credit card, and added late fees and interest on the monthly charge. The balance had been $0.00, now somewhere around $60.00. A family member placed a call to Citibank.
Here is the exchange:
Family Member: “I am calling to tell you she died in January.”
Citibank: “The account was never closed and the late fees and charges still apply.”
Family Member: “Maybe, you should turn it over to collections.”
Citibank: “Since it is two months past due, it already has been.”
Family Member : So, what will they do when they find out she is dead?”
Citibank: “Either report her account to frauds division or report her to the credit bureau, maybe both!”
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No institution or company can report on a deceased persons credit… It is against the Law.. I have done collections for many years now. There is nothing any of those companies can do. Thats there job to keep track of customers so they dont get hit by a big loss. If I died I’d leave it for my family to purchase whatever they wanted …