Debts and Death

Our man in Havana

Sorry for being morbid.

What happens if someone dies and leaves a load of loans and bills behind? Are they wiped out or do they chase the relatives?

Sleipnir

no they're not written off. Usually the people who are owed the money can claim it against the deceased estate.

Our man in Havana

Originally posted by Kananga
no they're not written off. Usually the people who are owed the money can claim it against the deceased estate.

I see. But they wont be chasing those left behind?

Sleipnir

not as far as I know !
You could ring some company up and see what they say.
Ring the ESB and say someone close to you has passed away and you're wondering if the ESB claim from the estate or from next-of-kin.

Most wills will state that whatever residue is being left to the inheritor is net of any outstanding bills owed by the estate.

Those that die without having made a will, would also usually have claims made against their estate entertained by the courts.

Of course if the person dies owning nothing or with no cash, the Creditor may as well sing for it.

mm

shoegirl

If you die and have assets they can claim against your estate.

If you die penniless then they can try but cannot claim against anybody else in your family since only you are liable.

Our man in Havana

Thanks for all your help folks!:horned:

RainyDay

Most credit union loans are automatically cleared on death.