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Credit union loans and death

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  • 03-08-2010 8:59pm
    #1
    LisaPol
    Registered Users Posts: 37 ✭


    Hi,

    Just wondering if anyone can help. My Dad has just died. He had a joint account with my Mam in the credit union and a loan was taken out for a car a while back. Will this loan be directly transferred to just my Mams name or will any or all of it be dissolved? My Dad was the main account holder as far as I know. Worried for her as I dont think she will be able to pay it back now that he has gone.

    Thanks for any help,

    Lisa


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    #2
    tombull82
    Registered Users Posts: 910 ✭✭✭tombull82


    LisaPol wrote: »
    Hi,

    Just wondering if anyone can help. My Dad has just died. He had a joint account with my Mam in the credit union and a loan was taken out for a car a while back. Will this loan be directly transferred to just my Mams name or will any or all of it be dissolved? My Dad was the main account holder as far as I know. Worried for her as I dont think she will be able to pay it back now that he has gone.

    Thanks for any help,

    Lisa

    Lisa

    Very sorry for your loss.

    Get out your T&C's for your CU.

    This happened with my Nan a while back when my Grandad died and the CU wiped the Loan for her.


    Definitely worth looking into, as she needs as little stress and worry as possible at the moment.


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    #3
    Hair Bear
    Registered Users Posts: 34 ✭Hair Bear


    Sorry for your loss!
    The loan will probably be written off provided your dad was the first name on the account OR depending on the insurance type the CU have.

    Hope the loan is wiped for your mam!:)

    Irish League of Credit Unions
    33-41 Lower Mount Street, Dublin 2, Co. Dublin, Ireland
    Phone: 01 614 6700
    EMAIL: info@creditunion.ie


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