Areas of Law / Debt matter

I’ve recently been diagnosed as having a heart problem. I owe a lot of money on credit cards, and I’m worried that if I were to die suddenly everything I own would have to be sold off to pay the debts. However I’ve been told that the card companies are insured against this: is this true?

On the contrary, a credit card firm can ask for repayment of the balance of your account in full on your death. It’s possible some firms will offer you an insurance policy which would cover an eventuality such as your death (and for which you would no doubt pay a premium) but unless you have such a policy in place the repayment would come out of your estate.

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