Debts and Death

This is not a pleasant topic but one that does need addressing as it affects more people than you may imagine. A death of a loved one is a distressing time anyway without worrying, (a) how to pay for a funeral or (b) what will happen to the debts of the deceased.

If you are faced with the debt of a loved one and you think that it falls upon you to discharge the funeral expenses, bear in mind that such an expense can run in to thousands of pounds. However it is always a good idea to make checks on whether prior plans have been put in place by the deceased to cover the death expenses.

Numerous prior payment schemes exist and any of these may discharge in part or in full the cost of a funeral. Look out for a savings plan to cover the funeral cost, are there cleared funds in any account, has cash been set aside in a safe place, will life insurance cover the arrangements, has there been a prepaid funeral plan such as are advertised on TV.

If you have to pay for the funeral, have you considered doing it a cheaply as possible? If you need help in this regard, Help With Debt have access to experts who will be able to help you.

If you do go into debt as a result of making arrangements for a funeral, and this causes problems as a result of existing debt, we can help by suggesting debt solutions such as Debt management and IVA’s.

If you are worried by inheriting the debts of the deceased, you need to consider if you were a joint debtor on any loan or card taken out by the deceased, or whether you provided a guarantee for any of their debts.

If you think that you may have been left with a responsibility for a deceased’s debts after a death please call the Help With Debt helpline.