Your debts do NOT die with you!

Your creditors are paid before your loved ones can inherit any of your money or assets.

You can check to see if any debts or credit cards taken out prior to early 2007 are Unenforceable by requesting a copy of the original credit agreement. Some older debts may be Statute Barred. For further information go to The Financial Services Authority website, you can also search the forums all about debt.

You can search for lost or forgotten bank accounts at the British Bankers' Association website

You can search for lost or forgotten building society accounts at the Building Societies Association website

Debts owed to you

Personal Debts

If you were owed money (for example, for something you sold to someone, or money you lent to them) and there was an agreement in writing, it may be enforceable by the executor on behalf of the estate. However, if the arrangement was on a casual basis it may be difficult to prove after you death and it's unlikely that the debt will be recoverable

Business Debts

The legal situation regarding business debts owed to the deceased - including rental and hire purchase agreements - depends on whether the business is a sole proprietorship, a partnership or a company. Sorting out business debts can be very complicated.

Whether you're single, married, divorced, living with your partner, a parent or expecting children, making a Valid Will is crucial if you're going to ensure that your loved ones are provided for.

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