Debts and dying

[Ashpac]

If someone is in debt and they kill themselves, does that debt die with them?

I have read lots about this and if the other family member they live with did not co sign anything then they cant be forced to pay it off is that true?

Im just wondering if anyone has experience or know someone who has been in this situation.

 

[Charlie]

If someone is in debt and they kill themselves, does that debt die with them?

I have read lots about this and if the other family member they live with did not co sign anything then they cant be forced to pay it off is that true?

Im just wondering if anyone has experience or know someone who has been in this situation.

Basically they will take whatever is left from your estate after your next of kin sort your funeral

If you have nothing left, they will take nothing.

 

[Ashpac]

Basically they will take whatever is left from your estate after your next of kin sort your funeral

If you have nothing left, they will take nothing.

if that person has nothing worth of value? what then?

 

[Over n' Out]

Depends where you live.
Most often debts die with a person if not co signed.
That doesn't mean debt collecters won't visit family to attempt to get it paid off. They often try when the family is weak and not thinking straight so they pay up as a kind of closure, if they've got it.

 

[Ashpac]

Depends where you live.
Most often debts die with a person if not co signed.
That doesn't mean debt collecters won't visit family to attempt to get it paid off. They often try when the family is weak and not thinking straight so they pay up as a kind of closure, if they've got it.

My family dont cave into shit like that so its fine. They would get told to fuck off every time they knocked or made contact. I just wanted to make sure the debt didnt go to anyone else.

Thanks

 

[Rollo]

Well that's rather a question for your local lawyer. I too think debts can only be collected from your estate. So if they inherit it, then debt will be collected from them. But if you will be smart alecky and donate or quasi-sell your estate to them while you're alive - then there are possibilities and only knowing your local law will give answer.

 

[creatureoflight]

In my country you have 6 weeks to decide whether to accept the inheritance or not and then if you accept it, all debts must be paid out of the inheritance. All debts that are bigger than the inheritance don't have to be settled

 

[Ashpac]

In my country you have 6 weeks to decide whether to accept the inheritance or not and then if you accept it, all debts must be paid out of the inheritance. All debts that are bigger than the inheritance don't have to be settled

Thanks :)