If there are more debts than the estate can pay back, this is called an ‘insolvent estate’. In this situation, it is best to seek the advice of a solicitor or a probate specialist, according towww.moneyadviceservice.org.uk.
What to do if struggling to pay off debts after a relative’s death
It is difficult to think about practical matters after a death, especially if it is your partner.
It is even more daunting when you have debts to deal with at the same time.
Did you know?
Most people who have got debt advice tell us they feel less stressed or anxious and more in control of their life again.
If you are struggling to pay off joint debts after your partner dies, or if the drop in income makes it hard to pay your own debts, it can be hard to know where to turn.
It is important to know you don’t need to struggle on alone with your debt worries.
There are many ways to manage your debts and some are more well-known than others.
The one that is best for you will depend on your personal circumstances.
It is always best to talk things through with an experienced free debt adviser before you make a decision about what to do.
How will a debt adviser help you?
A debt adviser will:
Never judge you or make you feel bad about your situation; suggest ways to deal with debts that you might not know about; always be happy to talk to you, however big or small your problem might be; find ways to manage your debts even if you think you have no spare money; and check you have applied for all the benefits and entitlements available to you.
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