Champagne
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No - if you have estate the debts will be taken out of that. |
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nagbag
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Only if you die possessing literally nothing. |
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Derke N
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No. But you don't have to worry about them any more.
However, no one else has to pay for the debts unless they are already liable under the terms of the original agreement, e.g. the debt is in joint names or someone has signed as a guarantor.
So debtors don't need to chase the beneficiaries of a will just the executors who manage the estate. First the taxman gets his cut, then debts are paid and what's left goes to the beneficiaries. |
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pollie
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Yes - your estate is cashed in and they pay of your deptors first. Where there is not enough money to settle all deptors then some negotiation is called for.
When there is money left over it is usually inherited by your family. |
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Michele W
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If you have no assets, then yes essentially they are written off. If you have any assets, a car, a house, life insurance, even furniture or jewelry, those must be sold to pay off any debts before anything is left to anyone. |
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zena e
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NO YOU HAVE TO PAY ALL YOUR DEATH EVEN WHEN YOU DIE.
ESTATE SETTLES ALL YOUR CLAIMS
No.. They go to your estate and your estate settles the debts, bill, taxes ,and govt taxes as well
Check Rules in Canada or USA/ or whatever Country you are in .. RE DEATH.. ESTATE RULES. (
and get help or see your lawyer |
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NutstersChick
 |
not necessarily,
i've heard of recovery agencies chasing loans arranged by deceased husbands, from grieving widows.
it depends on the amount of debt, who it's with & whether a next-of-kin was stated on any documents.
it really does depend.
& i must say that's a strange question,
you're not aiming on doing something silly, are you?
contact a debt counsellor service for help.
death is not the answer. |
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M T
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No - your executor has to pay them from your estate. |
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nofuchsia
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No. So you may have to think it all out again. |
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CLAIRE S
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it depends, sometimes yes...
my mum had to pay a few bills when my dad died but i think it was only the bills that were in both there names, obviously if ur married ur other half would be expected to pay like loans or rentals etc. hope this helps |
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I dont know!
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Under no circumstances will your family ever personally have to repay your debts. It is correct that if you have any life insurance policies, or equity in a home, or savings etc etc, your debtors can make a claim from this. They don't always win though.
If you die without a penny to your name, your family will NOT have to repay the debt for you, under ANY circumstance. Your family are not party to the contract and are not legally responsible. Only your 'estate' is. Your 'estate' is all the money and stuff you leave behind when you die. This is administered by a solicitor.
Advice is based on UK law so should only be used for guidance for ths living in the UK |
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stanthemansmum
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If you have any goods that can be sold to pay off your debts, these will be sold. Any money in your bank account will also go towards your debts. Any debts which are jointly owned with another person will be down to the other person to pay. After this, any debts solely in your name are not the responsibility of anyone else.
Some companies try to chase family members for the debt which is dispicable but the family is not responsible for these debts and cannot be made to pay them - do not let these companies get away with chasing relatives for money which they do not owe! |
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Crazyjester9
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They are handled by your estate or anyone listed as a joint account holder. If no joint account holder and estate exist, there is really no way for them to collect. |
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Duncan T
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no, they get passed onto your estate which means that your family have to pay for them! people allways complain that thier granma left them with a string of debts! Some of the nicer companies may let of some of the smaller debts though |
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Gizmo
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No, any debt left behind will be paid from your estate. |
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Teresa G
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No as my parents to pay off my grandads debt away he passed away |
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jumoon
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No I was widowed 16 years ago when I was 29 and am still paying his creditors. |
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SarahLou
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Only if you have life insurance or if you have absolutely no next of kin. Otherwise no your next of kin will have to pay your debts for you. |
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teddy
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No, unless you have life insurance that pays a sum of money after death, that would clear them. But as far as i know your debts still exist. |
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Bumumble
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No, they get passed on to your next of kin. These companies want there money. Why are you thinking of faking your own death |
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