Zopa loan after death

[stunner1901]

Hi

My dad passed away Sunday and one of his debts is a loan with Zopa.

I have notified them and they have said details will be handed to Philip Cohen who will arrange repayments moving forward

it was in his sole name and he has no estate to leave

Am I right to say this debt will die in the same way as a credit card will?

I really hope so

Thanks in advance

[Amethyst]

It would be paid from the estate, so yes, unless it was joint or had a guarantor it should be written off once the estate is finalised. Zopa will come quite far down the list of creditors.

Did your Dad have a Will do you know yet ?

This is is the process the Moneyadviceservice recommend.

• Ask for a statement or letter showing the outstanding balance on the debt.
• Give them the name and contact details of the executor or administrator for the deceased’s estate. They’re responsible for making sure that the debt is paid from the estate.
• If you’re the administrator of the estate, you’ll need to have probate or a grant of administration.
• The executor will also pay the debts off in priority order.

You should pay off the debts in this order of importance:

• Secured debts, such as the mortgage.
• Reasonable funeral costs and the costs of administering the estate.
• Unsecured debts, such as credit cards, utility bills, unpaid rent, Council Tax and other taxes, and repayment of overpaid benefits.

If you're uncovering lots of stuff that needs dealing with you might be best served making an appointment with your local citizens advice - they should be able to advise on dealing with the admin following your dads passing, maybe advise with regards funding funeral arrangements, look at any additional benefits for your mum, and about sorting out power of attorney if need be. I think you need to gather everything together and sit down with someone who can go through with you and help figure out what to do and in what order.

I know it helps to keep busy, particularly waiting for the post mortem and trying to sort things out finance wise for your mum ... maybe making an appointment will give you a target to aim to gather all the info together for.