Debt after death

dskphoto

Good morning,

My father passed away recently and going through his paperwork I found the following : A loan from TSB which was defaulted and passed onto Wescot that he has been paying off. Balance £4000. A letter from TSB suggesting they had mis sold my father PPI - he was retired and on sickness benefit. A current account with £5000 ( my sister is joint signatory ). He was in a nursing home, no other assets, divorced and no will. He had an insurance policy that will cover basic funeral expenses. I read somewhere that we can use assets to pay for the funeral before we pay off any debts.

Just wondering how to handle Westcot and the TSB, my first thought is to tell them to go and whistle, not sure why the TSB considered him suitable for a loan in the first place, though I am not sure how far back the loan goes, there is only paperwork from the last year. The PPI reclaim includes a questionaire but we dont have the full details in order to fill it in.

fatbelly

dskphoto wrote: »

A current account with £5000 ( my sister is joint signatory ).

There will be costs above the basic expenses, your own administration costs if you are acting as executor (or solicitor costs if he appointed one). Maybe a headstone somewhere.

So if that is the only asset (and you will have to check) ...

By the time you've completed the essentials I think you will, with regret, have to inform LTSB that this is a nil estate and that you can make no payment to them.

AgeUK guide