In cases where a person dies, their family members may not know what to do with the pending credits that the deceased acquired while alive, or sometimes they also have concerns that these debts will be collected from them by the various creditors. So here we tell you what happens with the debts that you did not pay.
If a person dies, what happens to the debts they did not pay?
1.- When the person who dies has a mortgage debt with Infonavit
In these cases, Infonavit provides insurance, in order for the beneficiaries to request debt relief through the Infonatel line, where they will be given an appointment and given a case number. Subsequently, they will go to the appointment in question, in the collection area of the corresponding Infonavit service office, on the day they were assigned and they will take with them the case number and social security of the borrower.
If a person dies, what happens to the debts they did not pay? Photo: Pixabay.
2.- When the family member is obliged or obliged to pay the debts of a deceased relative, for the sole fact of being a direct relative
At this point, there are some situations in which the family member has the responsibility to pay the debt, which are the following:
You co-signed the debt. You are as executor. You signed as a guarantor or guarantor. You are the legal representative of the deceased and you are responsible for paying off the debt.
3.- When there is a joint credit with the deceased and you have to pay it
When these types of joint loans are granted, the two parties are protected by the life insurance of the mortgage, in the event that one of the persons dies, the insurance is responsible for paying off the debt. However, it is important that the policy establishes the marital coverage scheme and that there are no delays in payments.
4.- When the deceased grants you an additional credit card in life, and you do not have money to pay the debt
The beneficiaries must stop using the plastic immediately and unlink the additional cards, in the event that they used said card after the date of death, the family member would have to pay the debt for that period.
5.- When the deceased had no debts, but quite the opposite, he had a favorable balance.
The banking institution where the deceased kept his money, will have to return the amount to the relatives or the beneficiary designated by the deceased. In the event that there are no movements after a period of six years, the capital automatically goes to public welfare.
6.- When the money that is saved in the Afore cannot be collected by the relatives of the deceased.
In this case, the collection can be made, since there are two types of beneficiaries: legal ones (widow or widower, children of 16 or up to 25 years old if they are studying, parents and common-law partners) and substitutes (in case they are not there is no designated legal beneficiary).
In order for you to make the corresponding claims on the Afore account, you have to do the following:
He goes to the Sub-delegation of the Imss or of Economic Benefits of the Issste, in order for them to issue the corresponding pension resolution. If you are a substitute beneficiary, go to the Federal Conciliation and Arbitration Board or Court. Finally, he goes to the Afore in which the deceased worker was registered.
In order to leave problems for family members, it is vitally important that you could inform your relatives or your trusted people about the debts you have. In such a way that in the event of death, the people who remain have the least number of problems so that everything is in order.
More content about loans and personal finances, in our Credits section.