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SHi, I need some advice. My father, who was a government employee, recently passed away. Today, I received a legal notice regarding a personal loan he had taken. I’m unsure of what steps to take next.
Is this something I’m legally responsible for? What should my first steps be in handling this situation? Should I contact the bank or a legal advisor?
Any advice or experience would be really appreciated!
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SFor personal loan, there is no collateral. They cant do shit. If your father gets any money from policies They might deduct it( need to verify this piece of info)
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Cunsecured loans ie personal loans or credit cards they can’t do anything but are usually open to a settlement which is a fraction of the loan amount
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USpeaking from experience, I’d suggest informing the bank about the situation. They’ll likely ask for a death certificate, and once you provide that, they’ll issue the due clearance without any complications. There’s no need to take risks or try to work around the law—it’s like playing with fire, and it could backfire. The straightforward approach is always best. Just handle it directly and get it resolved smoothly.
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SMy father, had also credit card debts. I’ve provided the bank with his death certificate, and they’ve blocked the card, but now they’re asking for the minimum payment in order to close the account.
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SJust get in touch with your Bank as a next step. Also, you can consult DigiLawyer AI for the assistance.
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WFor loans without collateral(personal loan, credit cards) you need not worry, just reply to the notice by sharing the death certificate ask them to close the account from their end.
even if the banker asks to pay the minimum amount even after death of a person, please take the same over an email, you can raise a complaint to banking ombudsman.Banks might try to ask you to pay from the amount that your father might get (Full and final settlement, leave balance encashment or any insurance amount to be paid, but don’t pay a dime.
Please take all the amount (any amount that he may receiver in the future FNF, PF etc) in the legal heir’s account and never in your father’s account, make sure no amount is credited to your father’s account, as bank would have marked lien.
If death is accidental then most of banks debit card and credit card would be having accidental insurance, you can claim those. please check with the bank as most of the ppl never look into details of the cards.
Even the salary account maintained by the bank have insurance for the person please check the same with the banks, -
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