Need your views about this one Buddies!
By sheenmadness
@sheenmadness (1286)
Philippines
October 11, 2007 11:30pm CST
We are in a chaotic situation right now since my grandfather passed away and left us with a debt in some lending firm. My uncle believes that since my grandfather is already dead the debts of my grandfather are already quits. Now my question is, is it really quits? I still have a grandmother who is the benificiary of the pension. And the monthly pension will be transfered to her. Isn't it the obligation of my grandmother to pay for the debt of his late husband. In legallity what it is really all about when it comes to this situation. Hope you'll help me with this one guys! thanks a lot. :)
2 people like this
4 responses
@mamasan34 (6518)
• United States
12 Oct 07
I am unsure as to what country you live in, but in the United States, normally debts don't pass on to the next generation, i.e., children or extended family, the creditors/debtors would be notified through probate court. Because he does have a wife who survives him, if these bills are in her name as well, she would most likely be liable to pay those debts. I can't confirm that legally, but that is my understanding. I am unsure as I stated about where you live, but you might want to consult a lawyer to be sure of your options for your grandmother.
1 person likes this
@sheenmadness (1286)
• Philippines
12 Oct 07
Hello mamasan,
I live in the Philippines and i personally believe that it is also an obligation of my grandmother to pay for his late husbands debt. if im not mistaken in one lending firm my grandmother is the co-maker and in the other firm it was my late grandfather debts only.
1 person likes this
@Mosquito91 (66)
• Romania
12 Oct 07
I too think that your grandmother will be obligated to pay your grandfather's dept(hope it's not too much)! The lawyer is the only one that can explain and that may be able to get your grandmother out of this mess!
1 person likes this
@shadowing (308)
• Malaysia
12 Oct 07
Hi Sheenmadness.
Well, based on the description, since your uncle want to quit the debt as your grandfather has passed away and if everything regarding your grandfather has to be ended, then what is the logic for your grandmother to still receive the pension? Haha. I mean, legally I don't know how it works but I just kind of trying to say from my point of view. Hope you don't mind.
1 person likes this
@sheenmadness (1286)
• Philippines
13 Oct 07
That's okay shadowing. I don't mind at all. Since my grandmother is the beneficiary of my late grandpa and so the monthly pension of my grandpa will be transferred to my grandmother since she is his wife.
@williamjisir (22819)
• China
12 Oct 07
I think that your grandmother is now having this responsibility to pay for the debt since she is the beneficiary of your grandfather since she is alive. The debt won't be quit so long as the beneficiary is alive. This is my personal viewpoint.
@sheenmadness (1286)
• Philippines
12 Oct 07
Thanks william,
It is really nice to see you in my discussions. Thanks buddy! I am telling that to my grandmother too. But this stup?d uncle of mine is trying to tell her not to pay for the debts since it was my grandfather's debt.
@menctomas (278)
• Philippines
12 Oct 07
hi sheenmadness, i work in a bank here in the philippines particularly in the loans department. It depends really on the situation. Most loans like any other matter when it comes to marriage is conjugal. so most probably, your grandma signed on something "with marital consent." do you know if they gave any kind collateral. because if they did, the lending institutions will probably forclose those collateral. i'll add you as a friend to give you some advise.
@sheenmadness (1286)
• Philippines
12 Oct 07
Hi menctomas,
I have send you a private message and explaining there some issues that i think would help you understand more. Looking forward for your respond buddy. ^_^
