answersLogoWhite

0

If the loan is secured, then the collateral is returned to the bank. If the loan is unsecured, like a credit card, then the bank submits the balance to the estate of the deceased.

User Avatar

Wiki User

16y ago

What else can I help you with?

Related Questions

What happens to a home if you are not on the loan but on the title-deed and the person on the loan dies?

what happens if your husband dies and i am on deed,but not on loan.am i responsible for the loan and do i keep the house/


What happens if you cosign a loan and the other person dies?

yes


What happens when a co signer dies and you stop paying on car loan?

bank takes back


What happens if you cosign a loan and the other person dies?

If you cosign a loan and the other person dies, you may become responsible for repaying the loan in full. It is important to carefully consider the risks before agreeing to cosign a loan.


If a person dies can you give car back to bank?

If the bank holds the loan, then yes. If the payments are stopped, the bank will repossess anyways.


What happens to a loan if the seller dies?

If a seller dies, a loan might still be owed by the family of the person that died. In some cases, the loan would be forgiven if the seller died or passed away.


What happens to the car and title if primary person on car loan dies and the secondary person has survived?

The estate has to settle the title. The secondary person can be held responsible for the loan until it is resolved.


What happens if you do not pay your bank loan?

== ==


What happens if the loan borrower dies then the guarantor passes away shortly after?

borrower dies then it is not suitable that amount recovered from gaunter because of person taking guaranty of live person nor death


When the insured dies and a loan exists what happens?

Benefits are reduced


Can a bank take property they have no interest in?

Yes, a bank can take property that they have no interest in. This usually happens when a person has not paid their loan, and now has no right to the property.


What happens to bank loan if you are permanently disabled?

the asset which is kept as morgage with the bank at the time of taking loan is taken away by the bank