Home » Paying off debt

What Happens to Debt if I Die?


What happens to my debt if I die?

This was the question racing through my mind when we had £100,000 worth of consumer debt. I also knew we had already messed up our sons’ future royally.




You bet. I didn’t want to leave our sons to deal with debts. Do you?

Here is what will happen to your debt if you die. (And much more but this is what you need to know to jump into action.)

What happens to debt after you die: the good news

Debt in the UK is not inherited.

Your offspring, spouse, partner, and relatives for your individual debts if you die.

You are only responsible for a dead person’s debt if you had a joint loan.

For example, if I die tomorrow, John will be responsible for the mortgage and an overdraft (if we had any).

Okay, you get it – any shared account that is in debt at the time of debt, the surviving partner will continue paying.

What happens to debt after death: the bad news

All personal debt is paid off from the estate of the deceased. Including credit card debt and loans.

Personal debt will be written off only if the estate is not sufficient to cover the obligations.

I would rather die debt-free

You cannot take money to your grave. You leave behind inheritance and legacy.

You cannot take debt to your grave either. You leave behind problems, misery, and regret.

Don’t know about you, but I would rather die debt-free.

Here is what I did when we were in debt to protect our sons

I insured the heck out of John and me.

I hunted insurance companies like a tigress and got a good deal.

Mainly, I made sure that we carried insurance to cover all debt, including the mortgage.

It helped me sleep at night to know that if we die our sons will be okay. Even better, I knew that if I die John was not to deal with money trouble on top of everything.


Buckle up and pay off your debt.

Don’t be the loser who bounced his last cheque.

Photo by Sigmund on Unsplash

Leave a comment