What Happens When I Die?

[jmac54]

When I die I do not have any estate to my name, I will be leaving with nothing to my name. I will be left with credit card debts total of approximately £12,000, what happens to those debts or does the debt die with me?

[JimF]

As you have no estate, you have no-one to will it to, so the credit card companies will simply write off the debts as they have no way of recovering them.

[ummmm]

Dies with you. They can't recover it from anyone else unless there's a guarantor.

[barry1010]

No money in the bank, no car, furniture, jewellery, absolutely nothing of value?

[emmie]

he did post something else where he has some assets......

[emmie]

https://www.theanswerbank.co.uk/Insurance/Question1729046.html

[rowanwitch]

Can you not bring those debts down before you die, if you know you are going to die soon there may be extra benefits or grants you can claim that could be diverted to chip away at them. Attendance allowance isn't means tested and is paid at the highest rate when you have 6 months of less life expectancy Of you are not claiming already it could make a dent in the outstanding amount

[TheChair]

Goin' up to the spirit in the sky.

[Peter Pedant]

if the estate is finally in debt then the executors write to the companies and say no go
I have done this
( obviously I had to prove insolvency but that wasnt difficult wiv no assets and debts of 10 kay)

if you have an interest in a life policy then you have an asset then above does not apply neither do any of the answers

the asset is expended to relieve the debts in a set order ( see other AB posts) and the rest written off

if you have no will - then someone can apply for a grant of admin ( like an exec ) , Now who can do that ?
anyone with an interest like ONE creditor ....

if you are thinking about death then you should think of making a will - which you will notice is the correct answer to a completely different question

yeah yeah I know you will say but this but that - please dont bother

[Peter Pedant]

me again
there is a common idea that debts die with the estate and so EVERYONE thinks

right - - I have debts of 20 k and they die wiv me
and assets of 30k and so a lovely 30k goes to my heirs

lovely jubbly I just need to find someone to execute Plan A on my death

it really isnt like that