#DebtAfterDeath #FinanceHelpNeeded #UnsecuredDebt
Hey there,
First of all, I’m so sorry for your loss. It’s never easy having to deal with finances after a loved one passes away. You’re doing a great job taking on this responsibility for your grandad.
When it comes to unsecured debt after a death, here are some things to consider:
– The house that your grandad and gran owned is a joint asset, so it’s unlikely that it will be impacted by his unsecured debts.
– You may need to inform the credit card companies of his passing and provide them with a copy of the death certificate.
– Writing off the debts may not be possible, but you can negotiate with the companies to see if they can offer any kind of repayment plan or reduction in the balances.
As for the list of debts, here are a few steps you can take:
– Contact each company individually to inform them of the situation and ask for guidance on how to proceed.
– Consider seeking help from a financial advisor or legal professional who specializes in estate planning to navigate this process.
I hope this information helps, and please feel free to reach out if you have any more questions. Stay strong 💪💰.
Your gran just needs to show your grandads death certificate to a conveyancer pay the fee and they’ll transfer it into just her name on the deeds. They can only put a charge on the house if they get a CCJ on your grandad which usually takes forever anyway since they have to give you a chance to start paying before giving to debt collectors etc.
Source; did the same thing with my mum when she passed.
The banks might, depending on their policy, ask the question as to whether those are joint liabilities raised in the course of the marriage. If they do, the assumption may be they are, unless the survivor can argue otherwise. If it’s gambling and model railway parts it’s one thing, if it’s groceries and kitchen renovations they might argue it’s a joint debt.
My dad had ~£800 on an MBNA card at death and I tried to pay it off several times and failed.
Eventually I discovered they’d just written off the debt, hence why the payments bounced.