Intestacy, debt and other problems

Mojisola

pmlindyloo wrote: »

With £90000 of credit debt it is extremely unlikely that the OP's friend would be servicing these debts anyway as he is only on benefits. Any action to be taken would most likely already have begun.

My suggestion is that the OP's friend gets someone to sort this out for him to take some of the pressure off him.

Not all creditors are devoid of compassion.

What most creditors do dislike is being ignored. Once they are aware of all the circumstances they at least get a chance to show some compassion. Extreme measures such as bankruptcy, for example, would not be worth their while and CAP could argue this for him.

And they are usually realistic. With a debt charity involved and the extent of his debts known to them, it would be clearly be a waste of their time pursuing the estate.

pmlindyloo

This might be useful as regards the pension pot of money.

http://www.thisismoney.co.uk/money/pensions/article-1692795/What-happens-to-my-pension-pot-if-I-die.html

getmore4less

qwert_yuiop wrote: »

If this were true, every one with a terminal disease would be on a wild spending spree.

And they can if they have the credit lined up, or can get it.

if you have no assets then the debts do die with you in that context


There is an issue that if others benifit from borrowed money(like you pay for holidays) or you deliberately dispose of assets(gift your house and move into rented) then there there are provisions in the insolvency laws to make attempts to recover funds.

PennyForThem_2

Excuse me for being ignorant - but how is 90K of cc debt actually feasible?