There is good news for anyone concerned about inheriting debt. The fact is that inheriting debt is not possible unless you were a holder of the debt. This question often arises from sons and daughters who want to know if they will inherit debt from their parents after they die. This is not possible unless a child was a part of the loan or agreement that created the debt.
Inherit is the key word to pay attention to here. Though it is possible for someone to have to pay a deceased person’s debt, inheriting the debt is not likely to occur. Take into consideration a few important things about debts left behind by the deceased:
If you are concerned about how to handle a deceased family member's or anyone else's debt, work with a debt settlement attorney. The attorney will help ensure that the right person is responsible for repaying the debt owed.