Loan and being terminally ill

antrobus

noh wrote: »

...UK law is what applies here and thankfully, in this matter at least, things have changed since the 19th Century.

I think that what you meant to say was, 'things have changed since the 20th Century', and when exactly they changed depends on which legal jurisdiction within the UK you're talking about. In Scotland it wasn't until 1984.

MonkeyMad

How on earth does giving a 7yr loan to an ill 71 year old who has been making the repayemens equate to mis-selling?

Stupid on the banks part maybe, as there is a fair chance they won't get their money back, but anything else??!!

Macblack

Unfortunatley, my father in law passed away and as planned we spoke to the CBA and the bank who held the loan.

The result is that the debt dies with my father in law this is because of 2 factors:

1) The mortgage is a joint tennancy, my father-in-law's share automatically passes to the other 2 people on the mortgage before any debts are paid.

2) The unsecured loan was in his name only, it did not matter that it was paid from the joint account.

As a result my father in law had no estate and therefore the debt dies with him.

I post this in the hope it will help someone else in the same situation.

Regards..

Clive_Woody

Macblack wrote: »

Unfortunatley, my father in law passed away and as planned we spoke to the CBA and the bank who held the loan.

The result is that the debt dies with my father in law this is because of 2 factors:

1) The mortgage is a joint tennancy, my father-in-law's share automatically passes to the other 2 people on the mortgage before any debts are paid.

2) The unsecured loan was in his name only, it did not matter that it was paid from the joint account.

As a result my father in law had no estate and therefore the debt dies with him.

I post this in the hope it will help someone else in the same situation.

Regards..

Sorry to hear of your loss, but it is good news that the worries about the loan are sorted out.

Thank you for coming back and posting an update.