Payment Plan after death

[johnmbro]

What happens to a payment plan when the account holder dies?
Does the remaining balance have to be paid from the estate?
Thanks

[Ethel]

Payment plan to repay debt?

Yes - it must be repaid from the estate.

[CheekyChops]

If there isn't enough money in the estate to make full repayment, it gets written off. They can't come after the husband/wife/children.

[helpmetoo]

yep,
funeral costs first, then the taxman, then if the estate is not big enough to pay all debts the executors distribute the money proportionately (less costs)

[themas]

The taxman does not have preferential treatment - he ranks with the other creditors.