Outstanding Debt

[gangan34]

If I take out a bank loan and have also credit card debt,what happens if I die,is my wife lumbered with the outstanding debt?

[mccfluff]

hi troll, lovely to see you back

yes i am an expert, i'm in lots of debt and should i shuffle off this mortal coil any time soon, my debt is no-one else's responsibility because it was taken out in my name only.

its hardly rocket science although you seem to have trouble grasping the concept

[pusskin]

Calm down spanner, i can see a ban coming on.

[gangan34]

Thank you for the information,I have a headache just reading the posts,I will try and understand the information provided,

Ta

[EcclesCake]

Focus on what New Judge and Barmaid have advised and you won't go far wrong.

[Peter Pedant]

Hi Barmaid
Nice to see you back posting
you are much needed and much missed....

I think it is worth stressing that if Gangan dies and has other assets then the debt is paid from them.

( There is a current myth that liabilities die with the debtor but his assets don't -hooray if only it were true )


pearls to swine my dear pearls to swine....

[Peter Pedant]

gangan if your head hurts just read Barmaid and New Judge
they do it for a living ....