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Can I Inherit Debt?

The simple answer is no, you cannot inherit debt after someone you know passes

The simple answer is no, you cannot inherit debt after someone you know passes. Your parents, partner or children’s debts do not become yours when they pass. And vice versa, your debts do not become theirs.

Creditors will often try to make a claim on your loved one’s estate. This means they will try to collect what they are owed before any the inheritance is shared.

The only time you can inherit debt is when having joint or co-signed debts. In this case, if one co-signer passes away, the other debt is the responsibility of the living co-signer. Since you were legally responsible for the debt while the co-signer was alive, you will stay responsible if they pass.

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