Debt if parent dies

sandralovescats

heatherw_01 wrote:

Probably about £50k, she won't tell me fully.

Oh Heather, your Mum must be worried out of her mind.

Do investigate bankruptcy.

There is no way that your Mum can pay that amount of money off in her lifetime.

My advice would be to go to the CAB yourself first, explain the situation, tell them your thoughts on bankruptcy and then decisions have to be made.

heatherw_01

She explored all things with CAB and they thought that cutting the debt to a minimum each month would help. They helped her do that so she is paying a tiny amount each month.

Yes, discussing bankruptcy might be the way to go.

ehallett

Hi

My dad died in February last year and he had 2 credit cards that were nothing to do with my mum (£9,000 debt in total). The debts were just written off.

Hope this helps.

Emily x

magyar

I do think it's worth looking more fully into this. I'm the last person to recommend bankruptcy, but at the end of the day, you shouldn't make the decision based on a £2,000 life insurance policy - it's more important to sort our the other £50k.

I appreciate this is even harder for older people who have historically not talked about money, but your mum does I think need to seek professional help.

sandralovescats

heatherw_01 wrote:

She explored all things with CAB and they thought that cutting the debt to a minimum each month would help. They helped her do that so she is paying a tiny amount each month.

Yes, discussing bankruptcy might be the way to go.

With £50K of debt it really would be better for your Mum to have some peace in her twilight years.

As I said previously, the Insurance policy that she really needs can be saved.

The CAB in general don't like bankruptcy but in your Mum's case I think that they were very wrong in doing a DMP at her age and on a limited income.

A bankruptcy will not affect her in any major way now.

I hope her heart op goes well.

heatherw_01

Thank you to all for your quick and helpful replies :T

How would she go about declaring bankruptcy seeing as she doesn't have enough to pay to do it? Myvesta?

The family consists of me and her. I do not have a lot of money either so it would be hard for me to help pay the fee.

I will be back later to read any replies, thanks in advance for your replies

jonesMUFCforever

Heather the first claim on any estate is the funeral bill.
This comes before any creditor, it does not matter who they are.

I also totally agree with what has been previously posted you are not responsible for your mum's debts when she dies.