Credit at profi credit at the death of the debtor

Hello, we have such a problem in the family, one family member borrowed money from Profi Credit (I don't know how much) and died (illness) and the rest of us now do not know whether we will inherit the debt or it will disappear. I know that Provident's debt is going off, so I'm just wondering if here, too, I'll be happy for any advice and remarks.
by

1 Answer

Answer :

I'm afraid that Profi credit doesn't forgive anything, on the contrary, they have cleverly written contracts and recover huge amounts owed if someone doesn't pay on time. Check the contract to see if the deceased had a guarantor. If so, the guarantor must pay. If not, have the property of the deceased written down, and if the debt exceeds the value of the property you inherit, you can reject the entire inheritance and the debt. If you accept the inheritance and it is worth more than the debt, you will have to pay the debt for the deceased under the new law.
by

Related questions

Which is not the case of discharge of surety (a) By notice of revocation (b) By death of surety (c) If creditor releases the principal debtor (d) None of the above

Description : Which is not the case of discharge of surety (a) By notice of revocation (b) By death of surety (c) If creditor releases the principal debtor (d) None of the above

Last Answer : (d) None of the above

Which of the following will improve a company's working capital management position? A. An increased level of bad debts B. An increase in the credit period allowed by suppliers C. An increased debtor collection period D. An increase in the stock turnover period E. An increase in the length of the production

Description : Which of the following will improve a company's working capital management position? A. An increased level of bad debts B. An increase in the credit period allowed by suppliers C. An increased debtor ... D. An increase in the stock turnover period E. An increase in the length of the production

Last Answer : B. An increase in the credit period allowed by suppliers

A document issued by a vendor giving credit to the debtor is called:

Description : A document issued by a vendor giving credit to the debtor is called:

Last Answer : Credit note

Why did the US become international creditor from international debtor? -SST 10th

Description : Why did the US become international creditor from international debtor? -SST 10th

Last Answer : . World War I led to the snapping of economic links between some of the world's largest economic powers which were now fighting each other to pay for them. . Britain borrowed large sums of ... So, the US and its citizens owned more overseas assets than foreign governments and citizens owned in US.

Which country is the largest debtor of UNO? -Do You Know?

Description : Which country is the largest debtor of UNO? -Do You Know?

Last Answer : answer:

Is it obligatory to perform Hajj on a debtor ?

Description : Is it obligatory to perform Hajj on a debtor ?

Last Answer : If a person has a debt which he needs all his resources to repay , then Hajj is not obligatory on him. Because Allah has made Hajj obligatory only on the able-bodied people. He said : وَلِلَّهِ عَلَى النَّاسِ حِجُّ ... to will. If the mind wants to do, the mind will not do , there will be no sin.

What if the debtor dies?

Description : When someone owes me 500,000 and dies. He doesn't have children or relatives, so I'll never see 500,000 again.

Last Answer : You can claim the estate. However, if he does not own anything, then it is simply unfortunate.

Reserve for discount on debtor has a __________ balance. 

Description : Reserve for discount on debtor has a __________ balance. 

Last Answer : Reserve for discount on debtor has a __________ balance. (a) credit (b) debit (c) nil (d) positive

Creditor, Objection to Debtor Offset?

Description : Creditor, Objection to Debtor Offset?

Last Answer : Creditor, Objection to Debtor Offset(Download)Date:Name of Debtor (Person Owing Debt)Address:Dear Sir or Madam:We acknowledge receipt of your check tendered in the amount of $_________, which we accept as ... , comment, or other written item on the face of a check objecting to the charges and stati

Assignment of Debtor Account, Notice?

Description : Assignment of Debtor Account, Notice?

Last Answer : Assignment of Debtor Account, Notice(Download)TO: ____________________________________________________________Re: Your account with __________________________Your account with __________________________ has been transferred to ... of Debtor Account, NoticeReview listThis review list is provided to

What is the silent letter in debtor?

Description : What is the silent letter in debtor?

Last Answer : The "b" in "debtor" is silent.

Which is an interest-free period that is to be given by a creditor to debtor? A. Fixed Period B. Preset Period C. Grace Period D. None of the Above

Description : Which is an interest-free period that is to be given by a creditor to debtor? A. Fixed Period B. Preset Period C. Grace Period D. None of the Above

Last Answer : C. Grace Period Explanation: The grace period is the provision in most loan and insurance contracts which allows payment to be received for a certain period of time after the actual due date. During ... will be charged, and the late payment will not result in default or cancellation of the loan.

‘Judgment Debtor’ is defined in………………..of Code of civil Procedure 1908. (a) 2(6) (b) 2(4) (c) 2(10) (d) 2(2)

Description : ‘Judgment Debtor’ is defined in………………..of Code of civil Procedure 1908. (a) 2(6) (b) 2(4) (c) 2(10) (d) 2(2)

Last Answer : (c) 2(10)

‘Any person against whom a decree has been passed or an order capable of execution has been made’ is called (a) Plaintiff (b) Decree Holder (c) Judgment Debtor (d) None of the above

Description : ‘Any person against whom a decree has been passed or an order capable of  execution has been made’ is called  (a) Plaintiff (b) Decree Holder (c) Judgment Debtor (d) None of the above

Last Answer : (c) Judgment Debtor

A person who owes money to the business is called 1. creditor 2. proprietor 3. debtor 4. both 1 and 2 5. None of these

Description : A person who owes money to the business is called 1. creditor 2. proprietor 3. debtor 4. both 1 and 2 5. None of these

Last Answer : debtor

One is entitled to initiate insolvency resolution of a corporate debtor when the corporate debtor __________. a) does not have enough liquid cash to continue operations as a going concern b) has failed to repay a debt when due and payable c) has ceased to be a going concern d) has negative net worth

Description : One is entitled to initiate insolvency resolution of a corporate debtor when the corporate debtor __________. a) does not have enough liquid cash to continue operations as a going concern b) has failed to ... debt when due and payable c) has ceased to be a going concern d) has negative net worth

Last Answer : b) has failed to repay a debt when due and payable

Under the Insolvency and Bankruptcy Code, 2016, the fees of the liquidator is paid from the proceeds of sale of the ____________of the corporate debtor. a) unencumbered liabilities b) liquidation assets c) liquidation fund d) unencumbered reserves

Description : Under the Insolvency and Bankruptcy Code, 2016, the fees of the liquidator is paid from the proceeds of sale of the ____________of the corporate debtor. a) unencumbered liabilities b) liquidation assets c) liquidation fund d) unencumbered reserves

Last Answer : b) liquidation assets

Who determines the amount of claim due to a creditor under the Insolvency and Bankruptcy Code, 2016? a) Committee of Creditors b) Resolution Professional c) Adjudicating Authority d) Corporate Debtor

Description : Who determines the amount of claim due to a creditor under the Insolvency and Bankruptcy Code, 2016? a) Committee of Creditors b) Resolution Professional c) Adjudicating Authority d) Corporate Debtor

Last Answer : b) Resolution Professional

Cash discount allowed to a debtor should be credited to a) Discount account b)Customer’s account c) Sales account d) Cash account

Description : Cash discount allowed to a debtor should be credited to a) Discount account b)Customer’s account c) Sales account d) Cash account

Last Answer : b)Customer’s account

Share holder are____________ A. Creditor Of Company B. Debtor of Company C. Owner of Company D. Members of Company

Description : Share holder are____________ A. Creditor Of Company B. Debtor of Company C. Owner of Company D. Members of Company

Last Answer : C. Owner of Company

Debenture holder are____________ A. Creditor Of Company B. Debtor of Company C. Owner of Company D. Members of Company

Description : Debenture holder are____________ A. Creditor Of Company B. Debtor of Company C. Owner of Company D. Members of Company

Last Answer : A. Creditor Of Company

In contract of guarantee, the person in respect of whose default the guarantee is given, is known as: A. Creditor B. Surety C. Principal debtor D. Debtor

Description : In contract of guarantee, the person in respect of whose default the guarantee is given, is known as: A. Creditor B. Surety C. Principal debtor D. Debtor

Last Answer : C. Principal debtor

In contract of guarantee, the person to whom guarantee is given is known as: A. Creditor B. Surety C. Principal debtor D. Debtor

Description : In contract of guarantee, the person to whom guarantee is given is known as: A. Creditor B. Surety C. Principal debtor D. Debtor

Last Answer : A. Creditor

The person to whom the guarantee is given is called a) Indemnifier b) Principal debtor c) Indemnified d) Creditor

Description : The person to whom the guarantee is given is called a) Indemnifier b) Principal debtor c) Indemnified d) Creditor

Last Answer : d) Creditor

The person whose loss is to be made good is called the a) Indemnifier b) Principal Debtor c) Indemnity holder d) none of these

Description : The person whose loss is to be made good is called the a) Indemnifier b) Principal Debtor c) Indemnity holder d) none of these

Last Answer : b) Principal Debtor

In case of Contract of guarantee, if the creditor loses or parts with any security which the debtor provides him at time of contract, the surety is discharged to the extent of (a) The value of the security (b) The surety can be fully discharged (c) The surety can claim damages (d) All of the above

Description : In case of Contract of guarantee, if the creditor loses or parts with any security which the debtor provides him at time of contract, the surety is discharged to the extent of (a) The value of the security (b) The surety can be fully discharged (c) The surety can claim damages (d) All of the above

Last Answer : (a) The value of the security

In case of contract of guarantee, what is the liability of the surety against the principal debtor (a) Primary (b) Secondary (c) No liability (d) Fully liable

Description : In case of contract of guarantee, what is the liability of the surety against the principal debtor (a) Primary (b) Secondary (c) No liability (d) Fully liable

Last Answer : (b) Secondary

What is a death benefit rider on a credit union account?

Description : What is a death benefit rider on a credit union account?

Last Answer : Feel Free to Answer

The PPF account a) Cannot be attached any order or decree of court b) Is totally exempted from income tax c) In the event of the death of the depositor , the amount standing to his credit can be repaid to his nominee or legal heir even before expiry or 15 year d) All the above

Description : The PPF account a) Cannot be attached any order or decree of court b) Is totally exempted from income tax c) In the event of the death of the depositor , the amount standing to his credit can be repaid to his nominee or legal heir even before expiry or 15 year d) All the above

Last Answer : d) All the above