Managing my lending

What happens in the event of a borrower's death?

Should a borrower pass away, the loan contract would still stand. Once we're informed, and receive a copy of the death certificate, we give the executor all the details of the loan and the settlement figure. The estate can then opt to either pay off the outstanding amount, or set up a new direct debit from the executor's account to continue the monthly repayments.

Last Updated: 22 October 2018, 09:24pm
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