2023-09-21 03:04:05
Find out what happens to the debt in the event of death (Illustrative image Infobae)
Regarding finance and debt issues, it is very common for people to have various doubts, since over the years various rumors have been shared whose degree of veracity is unknown, and one of the unknowns that usually arise most frequently frequency is what happens to the Credit Bureau debts when the person dies.
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According to experts, what happens to the Credit Bureau debt of a person who died depends on some factors; it is not resolved in the same way in all cases.
What happens with the debt depends on different factors
There are times in which the debt of the person who died is covered at the time of death and ceases to exist, but there are others in which the debt is still valid and not only that, the family members could be the heirs.
The cases in which it applies that the debts that the deceased person had are inherited to other people only apply when the credits have a guarantor, guarantor or anyone in which a person has signed the obligation to pay.
There are some cases in which debt can be inherited
It should be noted that in the most common cases, debts are covered through the life insurance that the person has and not only that, the debt can also be settled through the insurance to which the credit product that the person had is affiliated. the person who died.
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For the debt to be settled by life insurance, the relatives of the deceased person will have to notify the bank within 180 days after the death and will only have to cover the expenses after the death. Likewise, the banking institution itself must be responsible for notifying the Credit Bureau so that in the future there are no people who impersonate the person who died or misuse their personal information.
The relatives of the deceased person will have to notify the bank of the death (Photo: Credit Bureau/Facebook)
Although there are ways in which debts are inherited, there are some credits that would be covered through the person’s life insurance, such as credit cards, automobile or mortgage loans.
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In the case of material products of which a person has been named as beneficiary within the contract signed by the deceased person, they may be claimed; However, there is a possibility that the insurance does not apply to cover expenses due to late payments.
The most advisable thing is to know in depth about the clauses, terms and conditions of the contracts of those products of which you are a beneficiary.
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