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sott1967
New Member
United Kingdom
67 Posts |
 Posted - 17 February 2009 : 08:57:26
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Hi all,
Could someone settle an argument that two friends of mine were having last night. I didnt know the answer so couldnt help. Basically what happens to debt (credit cards etc) following suicide would your wife even if seperated be liable for it even if none of it was in her name.
thanks
Sott |
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got there
Junior Member
United Kingdom
461 Posts |
Posted - 17 February 2009 : 09:01:01
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| I always thought that the spouse would become liable even if not in her name unless divorced legally etc, could be wrong. |
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sott1967
New Member
United Kingdom
67 Posts |
Posted - 17 February 2009 : 09:08:36
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Any experts out there could answer this one please ?
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got there
Junior Member
United Kingdom
461 Posts |
Posted - 17 February 2009 : 09:13:57
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| I had a friend whose hubby died (not suicide) didnt have any insurances and she became liable for non joint accounts. (they were not seperated). |
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sott1967
New Member
United Kingdom
67 Posts |
Posted - 17 February 2009 : 09:26:13
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hi got there,
I was tending to lean a little more the other way on there argument, i thought if all the credit cards etc are in only one name then following suicide the spouse would not be liable even if they are still married, only guessing though.
Anyone else with thoughts please ? |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 17 February 2009 : 09:45:24
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My take on this would be that the deceased's estate would be liable for their debts, but not being legally trained that is just an educated guess.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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Jane.l
Average Member
511 Posts |
Posted - 17 February 2009 : 11:12:36
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| Surely the debts die with the debtor? If there is not enough in the estate for the creditors, then tough. I cannot see how another person who is not named on the debts can be made liable |
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sott1967
New Member
United Kingdom
67 Posts |
Posted - 17 February 2009 : 11:19:47
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not quite sure i follow, by pass on to estate do you mean the separated but not divorced wife would be liable even if she had nothing and the husband who commited suicide was in serious debt. ??
Thanks
sott |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 17 February 2009 : 12:08:57
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I just looked this up as it was puzzling me.
Aparently if you have debts when you die your estate has to pay them, but there is an order to which debts are paid first. Ultimately the wife does not actually have to pay the debts unless they are joint, and will only get the whole of a jointly owned property if she is a 'joint tennant', otherwise the creditors can apply to get this money out of the estate, thereby forcing a sale. It is quite complicated and I would hate to give anyone false information, but if it is a real issue for anyone I would seriously consider getting proper legal advise.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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pix1
Average Member
689 Posts |
Posted - 17 February 2009 : 12:22:59
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I hope you are alright and no one you know has committed suicide or is thinking of doing so. A natural death is a much better idea especially as time is a great healer, not least in debt matters.
I don't think even the most cut throat credit card company would pursue a spouse of a suicide case for any solely liable debt in the name of the suicide party. Joint debts would be a different matter. If there was a property involved the 'creditor' would be unlikely to institute a forced sale unless they wanted to gain a reputation for being chronically callous.
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settle argument please ?
