Debt after Death in the Family
Debt Arising from Death of a Partner
Over a third of people find themselves facing debt problems following the death of a partner. This is usually because the deceased had not taken out life insurance or because of debts that had to be paid out of his or her estate.
Being confronted by debt after losing a partner is particularly difficult to cope with because on top of your financial problems you are suffering from emotional trauma.
We offer a free and confidential debt advice service to help people suffering from debt after death.
If you would like to speak to one of our specially trained debt counsellors, please click the link below and complete the short contact form.
Click Here: To Apply For Free and Impartial Debt Advice
Once we have helped you to identify which debt solution would work best for you, we can also help you set it up- free of charge and without any obligation.
Inheriting Debts after Death
According to English law you cannot "inherit" a debt unless you were party to it before the death of the debtor. However you can still be affected by someone's debts after they have died.
This is because when a person dies leaving debts behind, they are recoverable from his or her estate. The estate is not divided amongst the beneficiaries of a will until all of the deceased's debts have been paid. Therefore you might find yourself in debt because all the money in your spouse's estate has to be used to settle his or her debts. In certain circumstances, you might have to negotiate with the deceased's creditors to avoid losing your home, if it forms part of the estate and could be sold to cover the debts. However, if there is not enough value in the estate to cover the deceased's debts, then you are not responsible for paying them.
If you would like to speak to one of our specially trained debt advisers about your particular situation or if you would simply like more information, please contact us by clicking the link below and filling in the short form.
Click Here: To Receive Free and Impartial Debt Advice
Circumstances When you are Responsible for Debts after Death
If you have a joint credit card or have taken out a joint credit agreement, loan or bank account with someone who has died leaving behind debts on these items, then you are responsible for them.
For instance, if you have a joint credit card with your husband, you will be responsible for paying any outstanding balance when he dies. This is the case even if you never actually used the card.
If you would like to speak to one of our specially trained debt counsellors about your debt responsibilities and any questions you may have, please click the link below and complete the short contact form.
Click Here: To Apply For Free and Impartial Debt Advice
To contact an advisor call 0800 138 5445. Alternatively complete an online enquiry form and an advisor will call you back at the time that you specify.