General Forum

General Forum

  1. Joined
    02 Oct '19
    Moves
    2
    02 Oct '19 05:35
    Hi,

    I have a question,

    If a person is in debt but he is dead, the transaction will stop, right? But if not what should I do? For me, as far as I know, when someone dies, any transaction will stop.

    Any Opinion?
  2. SubscriberPonderable
    chemist
    Linkenheim
    Joined
    22 Apr '05
    Moves
    554132
    02 Oct '19 05:49
    @maryjane022

    I don't think I understand the entire problem:

    If a person dies, there are people who inherit what the person owned, but also the debt. In some countries one can refuse to accept an inheritance. The relevant court will search for next-of kin. If nobody acepts the inheritance the creditor is left without anything more than what the person left.

    If there are any transaction (new contracts) running, but are not in effect yet, those transactions will cease.

    In fact if there is a severe legal problem you should consult a lawyer who know about your local legal system and the appropriate action.
  3. Subscribermoonbus
    Uber-Nerd
    Joined
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    3837
    02 Oct '19 08:49
    @maryjane022 said
    Hi,

    I have a question,

    If a person is in debt but he is dead, the transaction will stop, right? But if not what should I do? For me, as far as I know, when someone dies, any transaction will stop.

    Any Opinion?
    No, a person is dead when the lawyers are done with him.

    If contracts are running (rent, utilities, car payments, etc.), they do not automatically stop, nor do debts simply go away; the person assigned to be the estate executor must terminate the contracts and sell off assets to pay any remaining debts.
  4. PFJ Judea AD33
    Joined
    16 Feb '08
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    93795
    02 Oct '19 10:24
    @maryjane022 said
    Any Opinion?
    Welcome back.
  5. SubscriberVery Rusty
    Treat Everyone Equal
    Halifax, Nova Scotia
    Joined
    04 Oct '06
    Moves
    468364
    02 Oct '19 11:361 edit
    @maryjane022 said
    Hi,

    I have a question,

    If a person is in debt but he is dead, the transaction will stop, right? But if not what should I do? For me, as far as I know, when someone dies, any transaction will stop.

    Any Opinion?
    Many have insurances which will pay off any debt owed.

    It the person had nothing odds are no insurance so companies or utilities should have insurances to cover those costs.

    As an old saying goes you can not get blood out of a rock!

    Now if you used lets say a credit card after the person had passed that would be against the law, so the person using the credit card could have a problem.

    As a previous poster said one would have to know the circumstances, as the question isn't really clear at least to me.

    No executor of will?

    -VR
  6. Subscriberrookie54
    free tazer tickles..
    wildly content...
    Joined
    09 Mar '08
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    157340
    02 Oct '19 13:00
    @maryjane022 said
    Hi,

    I have a question,

    If a person is in debt but he is dead, the transaction will stop, right? But if not what should I do? For me, as far as I know, when someone dies, any transaction will stop.

    Any Opinion?
    money is nothing after yer dead

    don't let this info remove existential dread
  7. Standard memberHandyAndy
    Read a book!
    Joined
    23 Sep '06
    Moves
    18031
    02 Oct '19 13:10
    @maryjane022 said
    Any Opinion?
    Ask a lawyer.
  8. SubscriberVery Rusty
    Treat Everyone Equal
    Halifax, Nova Scotia
    Joined
    04 Oct '06
    Moves
    468364
    02 Oct '19 13:291 edit
    @handyandy said
    Ask a lawyer.
    The lawyer will also want to know the "FACTS" of this situation! 😉

    Ask no1 he is a lawyer in the real world and he will tell you I know need to know the situation to give an answer, then he may even charge you! 😉

    -VR
  9. Joined
    14 Mar '04
    Moves
    109761
    02 Oct '19 13:31
    @handyandy said
    Ask a lawyer.
    Ditto.
  10. SubscriberVery Rusty
    Treat Everyone Equal
    Halifax, Nova Scotia
    Joined
    04 Oct '06
    Moves
    468364
    02 Oct '19 13:34
    @rookie54 said
    money is nothing after yer dead

    don't let this info remove existential dread
    Only if you don't make a memorial for yourself, or name a wing of a hospital after yourself, or give to some charity in your name. That will only be remembered for so long though then forgotten. Birds will crap all over your memorial & the wing of the Hospital named after you will eventually get old and be torn down or refinished.

    Best thing to do is leave it to those who have treated you well and need it and will appreciate it.

    -VR
  11. SubscriberKegge
    Drown all midgets
    Joined
    23 Nov '09
    Moves
    109891
    03 Oct '19 19:58
    @maryjane022 said
    Hi,

    I have a question,

    If a person is in debt but he is dead, the transaction will stop, right? But if not what should I do? For me, as far as I know, when someone dies, any transaction will stop.

    Any Opinion?
    If you're dead, why do you care?
  12. Joined
    07 Oct '19
    Moves
    3
    07 Oct '19 06:22
    For me, you have to write a letter to let them know, like this to prove your concern.
    https://www.scottishtrustdeed.co.uk/creditor-details/wescot-credit-services/#Get_them_to_prove_it_with_a_Prove_The_Debt_Letter
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