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Credit Card Claim: Debts will persist after death

People who heavily rely on credit cards could check to see if they are eligible to make a payment protection insurance claim on cover which was missold to them.

The financial lump sum could come in useful to help people reduce their level of debt as the arrears will still remain even if they die.

A new report from Gocompare.com has found that 18 per cent of British consumers think that if they pass away then so will their debts. The site stated that the debts will be taken from their estate, which could have financial implications for their families.

People should take action to sort their financial situation as best they can as they never know what could happen and nobody wants to burden their loved ones, said Jeremy Cryer from Gocompare.com.

Defaqto recently urged people to pay off credit card debts as soon as they can as these tend to be more expensive than other types of borrowings.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801234810-ADNFCR



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