Dealing with bereavement can often cause financial uncertainty, especially when it means your household income is reduced.
It can also be frightening if you are left to deal with debts on your own.
If you are having problems making your payments you can use our online debt counselling service, which will provide you with free debt advice and the most appropriate solution to your debt problem. Alternatively contact our free Helpline on 0800 138 1111.
In the meantime you may find some of the following tips useful.
Partner assets
If your partner had assets, such as equity in a property, money in the bank or other valuable assets, their creditors may take some of this to pay any debts solely in your partner’s name. The probate solicitors would organise this.
If your partner had no assets, any debts in their name only would be written off. You would not be obliged to make payments towards them
Joint debts
Any joint debts you have with your spouse or partner will have joint and several liability. This means that the debts will pass to you if the other joint owner of the debt is not in a position to pay.
Legal agreements
You will need to transfer legal agreements such as tenancy agreements, utility bills and any other joint contracts you may have into your own name. If any of these agreements are in arrears you will have to accept responsibility for the full amount including the arrears.
Insurance policies
Check if your spouse or partner has any insurance policies you can make a claim on. For example, if your partner had life insurance to cover a mortgage, this may result in a portion or the entire mortgage being paid off.
Bereavement impact
If the bereavement has affected your household income, check your benefit entitlement. You may be entitled to a bereavement payment or allowance, or a widow(er)’s parent’s allowance if you have dependent children.
If the bereavement means you are the only adult in the property, ensure you advise the council as you should be entitled to a 25% discount on your Council Tax.
If we haven’t answered your question please contact us and one of our advisors will be able to help you.
Cruise Bereavement Care and Age UK can also offer you additional help and support at this difficult time.