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Friends father died with no will but debts


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Hi a friend of mine has just lost his father , he had life insurance but no will , he also had around £28000 worth of debt , the life insurance is £50000 , so there is money to pay it off but some of it was credit cards witch are from barclaycard ( possibility of no credit agreement ) does requesting a signed credit agreement still count as the person is dead , or do they all have to be paid ?

 

many thanks for your time

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Sorry l dont know the answer but l would assume they would still have to provide the paperwork to say the debt is legit.

OFT debt collection guidance

 

Please remember the only stupid question is the one you dont ask so dont worry about asking the stupid questions.

 

Essex girl in pc world looking 4 curtains 4 her pc,the assistant says u dont need curtains 4 a computer!!Essex girl says,''HELLOOO!! i,ve got WINDOWS!!'.

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Hi,

 

 

When someone dies, any debts they leave are paid out of their 'estate' (the money and property they leave behind). You're only responsible for their debts if you had a joint loan or agreement or provided a loan guarantee - you aren't automatically responsible for a husband's, wife's or civil partner's debts.

 

The estate

 

A person's estate is made up of their cash (including from insurance) and investments, property and possessions.

 

After someone dies their estate is handled by one or more 'executors' - or an 'administrator' if there wasn't any will. These are usually a relative or friend and/or a solicitor.

 

If the estate's worth more than a certain amount the executor or administrator will need special permission - called 'probate' or 'letters of administration' - to be able deal with the person's affairs. This includes paying off their debts.

 

What happens if there's not enough money to pay off all debts?

 

In this case, the estate has to pay off any outstanding debts in a set order before anything is given to people named in the will, or until the money runs out.

 

 

Personal loans, credit cards and credit debt

Repayment of these debts must wait until others have been settled. If cards are held jointly, any debts will be the joint holder's responsibility - but check to see if you're covered by a payment protection plan.

 

Bank account

 

If this was in the person’s sole name, no one will be able to touch the money until the estate is sorted out. If you had a bank account in joint names, you can still usually use the account.

 

Can't answer the CCA question.

 

Regards.

 

Scott.

 
 

Any advice I give is honest and in good faith.:)

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I don't know :rolleyes:

 

I'll have a look around, see what I can find.

 
 

Any advice I give is honest and in good faith.:)

If in doubt, you should seek the opinion of a Qualified Professional.

If you can, please donate to this site.

Help keep it up and active, helping people like you.

If you no longer require help, please do what you can to help others

RIP: Rooster-UK - MARTIN3030 - cerberusalert

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Somewhere on CAG, I can't remember where, I'm pretty sure I saw a comment from one of the more knowledgeable members that your debts die with you, although I can't remember in what circumstances. Maybe it was relating to unsecured debt such as credit cards.

 

I know the comment above sounds a bit vague, but it might be worth searching the forums.

 

Cheers

Rob

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If you die without a will, the government or court will decide how your money, property or possessions will be allocated, including your debts.

 
 

Any advice I give is honest and in good faith.:)

If in doubt, you should seek the opinion of a Qualified Professional.

If you can, please donate to this site.

Help keep it up and active, helping people like you.

If you no longer require help, please do what you can to help others

RIP: Rooster-UK - MARTIN3030 - cerberusalert

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Somewhere on CAG, I can't remember where, I'm pretty sure I saw a comment from one of the more knowledgeable members that your debts die with you, although I can't remember in what circumstances. Maybe it was relating to unsecured debt such as credit cards.

 

I know the comment above sounds a bit vague, but it might be worth searching the forums.

 

Cheers

Rob

 

That's what I've always believed. When my own father died (without a Will) some 30 years ago now :(, my mother was told this after she'd paid off his credit card :evil:.

 

I certainly wouldn't be offering to pay anything. Just Inform the company that he's passed away and leave it at that.

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Hello Folks!

 

My feelings on this are that an unenforceable Debt remains unenforceable when someone pops off.

 

First step is therefore to establish if the blood sucking banking vampires are actually owed anything at all, and also to establish if they owe the Estate anything, such as unlawful charges, mis-sold PPI.

 

Be an interesting Court case if a bank elected to take something like that to Court...obviously, I would think they would have to take action against the Estate and/or the Executor.

 

I think Executors have reasonable powers to demand details of contracts and Agreements, to ascertain what, if anything, is owed.

 

Someone like JonCris is likely to know more, so it may be an idea to see if he can be persuaded over to this Thread.

 

Cheers,

BRW

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how long do creditors get to file for money , so can he request a signed credit agreement for all the crditors befor paying them out of the estate ?

cheers for all the help

 

File for money? They have to prove he's got any first..... and unless you confirm that he had money, there's no issue.

 

It's entirely up to you which way you decide to go on this, but I would simply write and inform them that he's passed away and leave it at that. If they write back and want to know things.... deal with it then....

 

:)

Edited by PriorityOne
typo
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Sadly, many people only get to deal with these things after the person has popped off.

 

But, for those who are Caring for people still alive, who you know are being hounded by the Debt Industry (hint, they are not an industry), then my advice is to help them to draft the usual letters, such as s77/s78 CCA Requests, SARs etc, while they are still alive.

 

Then, when the time comes to take up the role of Executor, you have a head start on any bank or DCA that tries their luck. IOW, the key documents, or lack of them, may well have been explored before Death, and you than have that material to hand to see off any banker with envious eyes on the Estate, however large or small it may be.

 

Another good suggestion is to try and get Power of Attorney while the relative is still alive, assuming of course that your intentions are sincere and well meaning, and the relative accepts that it is a wise move before they are incapable of making that decision themselves.

 

That Power can prove invaluable if the relative suddenly deteriorates and you are tasked with handling their affairs. It's at that point when you can make contact with any banks or DCAs on their behalf, and nail down the issues they are incapable of dealing with themselves. Such as stopping DCA and/or Telephone Harassment for example.

 

Some of this is not a lot of use for the issue at hand, but may help those who have this coming up and are in the end-stage Caring phase.

 

Cheers,

BRW

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sorry to say this but i have seen a recent set of credit cards terms and conditions -- with a section --- if/when you die and the company definitely wanted their money owing if/when you die ---- suggest you get a set of t & c from santander and check it out.

Tam Wing Chuen -v- Bank of Credit and Commerce Hong Kong Ltd [1996] 2 BCLC 69

 

1996

PC

Lord Mustill Commonwealth,

 

Lord Mustill discussed the need to construe a contract contra preferentem: "the basis of the contra proferentem principle is that the person who puts forward the wording of a proposed agreement may be assumed to have looked after his own interests, so that if words leave room for doubt about whether he is intended to have a particular benefit there is reason to suppose that he is not."

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Would it be possible to hide from the executors any debts from cc firms?

 

Of course it's possible - but not lawful.

In the worst case the executor of the estate could become personally liable for the debts.

I really do appreciate all those 'thank you' emails - I'm glad I've been able to help. Apologies if I haven't acknowledged all of them.

You can also ding my gong if you prefer. :)

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