We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Bank loan after death
Comments
-
What a wonderful wheeze on their part - Get you to take out the loan and then become responsible for any/all repayments.
I sincerely hope you told them exactly where to file this (crass) suggestion.
Def...The bank advisor I saw said that was an option if I wanted to.... he then politely got told a few home / legal facts. xxx rip dad... we had our ups and downs but we’re always be family xx0 -
So as it turns out the bank loan is irrelevant.
Number one priority is the funeral and all accounts in credit can be used to pay the funeral director directly.
Loan will be written off as it was in sole name.0 -
Not always the case. Many banks have an offset clause that enables them to use any credit balance to pay off a loan balance. That effectively means they get precedence before the funeral costs. Even HMR&C don't get that!So as it turns out the bank loan is irrelevant.
Number one priority is the funeral and all accounts in credit can be used to pay the funeral director directly.
Loan will be written off as it was in sole name.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards