1. How to handle the loan when the borrower of the credit union dies

How to handle the loan when the borrower of the credit union dies:

1.

If the borrower's relatives or other third parties sign a joint repayment responsibility contract with the lending institution when applying for a loan, then if the borrower is in arrears for a long time, the lending institution will require the guarantor to perform the guarantee obligations and bear the joint and several liability. Responsibility for repayment of the remaining balance.

2.

Without any third-party guarantee:

①

If the borrower chooses a home mortgage loan method, when the overdue time reaches about half a year, the lending institution will generally file a lawsuit for house auction, and the auction proceeds will be used to pay off the debt first;

②

If the family of the deceased repays the loan on their behalf, after the loan is paid off in full, the family can go through the procedures to cancel the mortgage and keep the house.

3.

If the borrower initially chooses to provide neither collateral nor a third-party jointly responsible party, then it will be more difficult for the lending institution to recover the arrears. Increase and generally deal with bad debts.

2. What to do if the credit lender dies

Credit Loan

If the borrower applies for a loan and his or her institution signs a joint repayment liability contract , then if the borrower is in arrears for a long time, the lending institution will require the guarantor to perform the guarantee obligations, bear joint repayment liability, and repay the remaining arrears.

In the absence of any third-party guarantee:

① If the borrower chooses a home mortgage loan, then the overdue time reaches about half a year, and the lending institution generally A lawsuit will be filed for house auction, and the proceeds from the auction will be used first to pay off the debt;

If the loan is paid off in full, the family members will be able to register for the cancellation of the house mortgage after the loan is fully paid off. procedures, and then save the house.

And if the borrower has provided collateral and has no responsible person, it will be more difficult for the lending institution to recover the debt, and it will usually be bad.

3. Without collateral In the case where the lender dies, what happens to the bank loan?

“Actually, the so-called ‘father’s debt is repaid by the son’ is not true.” Tang Zhongni, a lawyer at Guida Law Firm, believes that it depends on the heir. Whether to inherit the inheritance and the actual price of the inheritance. It is understood that according to the provisions of the "Inheritance Law": "The inherited estate shall pay off the taxes and debts that the deceased should pay according to law. The taxes and debts paid are limited to the actual value of his estate. Any excess of the actual value of the estate shall be repaid voluntarily by the heir." This does not apply. If the heir abandons the inheritance, he will not be liable for the taxes and debts that the decedent should pay according to law. "If the house is lost, the lender dies, and the lender's heirs have no inheritance to inherit, they have no obligation to repay. If the house is intact or partially damaged, and the lender dies, the bank only has the right to demand repayment of the loan within the remaining value of the house (inheritance), but the actual operation is too difficult.