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bank loans

barca10
barca10 Posts: 1 Newbie
in Loans
can ne 1 tell me if its true that if my mam dies then ne loans she got with the bank i will end up bein responsible for

Comments

  • ~Beanie~
    ~Beanie~ Posts: 3,043 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    If they are in her sole name then they will have to be repaid from her estate. If she leaves nothing then you will not be responsible for repaying them.
    :p
  • LeeSouthEast
    LeeSouthEast Posts: 3,822 Forumite
    Part of the Furniture Combo Breaker Debt-free and Proud!
    Example: Your mum has a £10k loan with £5k outstanding.
    Your mum owns a house worth £200,000.

    The bank would be entitled to £5k from the sale of the house.
    Starting Debt: ~£20,000 01/01/2009. DFD: 20/11/2009 :j
    Do something amazing. GIVE BLOOD.
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