Paying My Deceased Wifes Debt

[mrmidnight]

Her building society wants me to settle her credit card debt, 'if this is not possible so they say they want me to phone them so that they can explain the information that they need from me as to ascertain whether an estate exists'.
They are fully aware of all the facts, death cerificate sent and duly returned back to me. She was insured only on death so there is no moneys there.
So what does anyone think what this building society wants from me, by the way the credit card was only in her name.
Or should I just ignore the letter.

[DrFilth]

if you don't get the info you need from this site pay a visit to your local cab office they give good advice for free.

[emeritus]

This may help

http://www.nidirect.gov.uk/what-happens-to-debts-when-someone-dies

[emeritus]

just realised Its Northern Ireland but may be relavent

[DrFilth]

here is a link to find your nearest cab office plus other help info

http://www.adviceguide.org.uk/get_advice.htm?gclid=CjkKEQjw5e-cBRDysazatpTm5b8BEiQAWxTHhzwNpYuQN4cGRkjyNiVwo4cm1lsT92LJ79TI9hiCaozw_wcB

[emeritus]

Here is another

http://www.thisismoney.co.uk/money/experts/article-2039944/If-husband-wife-run-credit-card-bills-passes-away-spouse-liable-pay-debt-estate.html

[Buenchico]

Your wife's debt passes to her estate and (in the absence of a will to the contrary) that estate passes to you. However an estate can't be 'negative', so you can't acquire a debt directly from your wife's estate.

The building society might (for example) well be interested in things like whether your home was owned by you both as 'joint tenants' or 'tenants in common'. (Ignore if you rent!).

If you were joint tenants then you automatically take over full ownership of the property. However if you were tenants in common then your wife's share of the house formed part of her estate (which she could, if she'd so chosen, have left to someone else). So if (say) your home is valued at £150,000, part of your wife's estate is valued at £75,000 and the lender has the right to demand settlement of the debt out of that money.

It is such matters that the building society will wish to enquire into.

[Peter Pedant]

I am extremely sorry to hear of your wife's death and also that the banks have not lost time in trying to touch you for money....

if you look on the law thread,
someone else has covered this

your wifes assets and liabilities are clumped together and if the sum total is = no money only debts then you are not responsible.

The drawback is jointly held accounts, card and property
they have to be counted

actually it strikes me that the building society is trying to pull a fast one but of course we dont know whether they are asking you to settle as the wife survivor or her executor


[There appears to be an urban myth that on death debts ( liabilities ) are written off and the assets then pass unencumbered to the heirs - actually the debts have to be paid off first.]

[Peter Pedant]

emeritus link is Northern ireland but I am pretty well certain it reflects the position in England.

and is quite a good one

Buenchico did this for a living by the way ....

[mrmidnight]

Thank you ever so much to all for the information,and I take on board every thing mentioned. I shall reply to their letter informing them to the contrary,and that I am not resposible for my wife's debts, which were not in my name.

[woofgang]

I know of someone else who was written to by Barclaycard requesting that she should repay her husband's debt as there was no estate. Happily she took advice before replying.

[factor-fiction]

Sorry to hear of your loss..

Who are the executors of her estate? Pass the letter on to the executor and tell the Building Society to deal with the executors.

[factor-fiction]

I assume you are saying she had no assets such as savings. Another factor is whether you own a home and whether you were joint tenants or tenants in common.

[mrmidnight]

thats quite right, no savings, lived in a warden controlled council bungalow,no car.

[factor-fiction]

The building society understandably wants to try to recover the money your late wife owed. Was there a will and are you the executor? The letters shouldn't be ignored, but if the executor can provide the evidence that there is no estate then the building society will drop their interest

[hc4361]

No savings, premium bonds, jewellery, possessions?

[ubasses]

The sentence that is confusing is ' She was insured only on death so there is no moneys there. '
If she had an insurance policy for payment on death that will form part of her estate and the credit card debt will need to be paid from this sum. If the policy was put in trust for you then it is paid straight to you and will not be part of the estate.