Will my son have to pay off the debt?

I am 79 year old man. My credit card debt amount is $40,000. I have taken out a reverse mortgage 4 years back. The interest of the loan is more than the fair market value of the house. I have used the loan to do some repairs in my home. I have sold my house few months back. Will my children be responsible for the payment of mortgage and credit cards?

1 Answers

Your credit card debts should be paid out of your estate.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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