How lenders will get back their money if in the case the borrower dies?
398898
if it is a loan for a house, they repo the house & sell it, or they hire Chuck Norris to go into the afterlife and collect the money!
556555
Yes they can and do all of the time. The only thing is to keep the card paid and current. My brother bought my grandmothers house and was executor of the estate. He still has her credit cards current and even her phone, the number is 50 years old. Now if you don't pay them and keep them up to date it would be a crime. The people are dead, who is going to sue you?
418933
She can add it without asking, all she needs to do is go to the bank and tell them to do so.\n\nIn the United States, bank CDs terminate at the death of the last account holder, which would be her.  The beneficiary then receives the value at death.  In some states for larger estates, inheretance tax is due, but otherwise nothing is due.  Any taxes due will be due from her estate.  Only if the estate cannot pay the taxes will the government start chasing the money.  There may be legal issues with a minor beneficiary that needs managed, but UTMA or UGMA would cover it.
590594
I would attempt to just borrow the money to get back to current from a local lender.  Leave the mortgage where it is.
114121
Take them to the bank that bought out the old one.  They are obligated to make good on the lod banks debts.
201380
Unless the original loan specifically says it can't be transfered, it can be. Has to go through proper channels though, you can't just hand over the paperwork, that doesn't change who's responcible. And there will be fees to pay.
923161
Not from me, you can't. Lending institutions like to lend money to people who show some capability of paying it back.
1011002
the beneficiary will get the money. Double if double indemity was paid. It doesn't have to be paid off only the premiums that have become due are paid.
994868
Well that's up to the kids. Do you mean as far as a burial or cremation? I mean what are you asking? If the person had nothing when they died there is nothing for the kids to get but debt when they bury them. If the Kids don't want to do that the state will put them in a paupers grave some place.
843535
It depends upon how the account was held.  If it was a true joint account, which carries with it the right of survivorship, when one owner dies, the other becomes the owner of the funds in the account.
393322
Usually, if you use a bank card to get money back, they send a transmission over the phone line. They will know right then that you don't have sufficient funds and won't give you the money anyway.\n\nSome accounts have what's called overdraft protection, which is usually a small line of credit (I have $250 on my account) that you can borrow against. That money, plus a fee (usually a HIGH fee - mine is $35 if I use even one cent of the credit), gets replaced next deposit you make. Call your bank to find out if your account has that feature or if you can get it.
1079395
The policy ends when policy owner dies. Since the company did not know he died in 1993, the company needs to recalculate how much premiums were paid from the policy between 1993  to 2002. From there, they need to find out if your dad borrow any cash value from the policy before he died. If he did, this amount will be deducted from the face amount. So it'll be like he just died yesterday and proceeds are being paid out.\n\nTo answer your question, the limit on payout is how much coverage your dad bought. Then this amount is distributed evenly to all beneficiaries named on the account. First it will pay the primary beneficiary, which is usually the spouse. If there is no primary beneficiary, then it will pay to the contingent beneficiary (which are usually the children). If your dad didn't name any beneficiary on the policy, then it will pay to his estate and then you will have to claim this money at the court.
151967
at a bank or mortgage lender
344372
Call the company that issued the policy.  They will send you a package with the company forms that need to be completed in order to get paid.\n\nYou will need:\n1. the policy\n2. the death certificate - ask the funeral home to provide.\n3. the insurance company forms.\n\nOnce complete, they will review and if straightforward, the insurance companies usually issue you a checkbook that is good up to the amount of the policy proceeds.  You can keep the money in this account and write checks when you need them or write one big check to yourself and deposit in your own accounts.
1121808
Contact the loan officer, and ask him, most will allow a death foreclosure, but you will have to pay a penalty for this house. But consider it carefully, you may not want it now, but in time you may want it for it's sentimental value that it was your fathers. but also look around and get the house reappraised, it may be worth more than you think. Also if the previous owner died I think you have so many days to just give it back to the bank in leu of paying the loan, unless you have already begain to make payments then that ship has sailed.
700226
I am sorry for your loss and my condolences to you and your family.As long as you or any family member has not co-signed on any of her debts the creditors will have to just eat that debt, as far as their constant harrasment you may want to provide them with a copy of the death certificate or mark the correspondence deceased return to sender and that may get most of them off your back .
334050
You can go to the red cross.....there has to be some type of emergency, and you can only get it once every four years or so.  It's a grant, not a loan. So you don't have to pay it back.