How to Handle a Deceased Spouse's Bills

The grief of losing a spouse can be compounded by the stress of having to deal with his debt obligations. Unfortunately, people are often unprepared for such a situation, which leaves them vulnerable to creditors. Although you don't have to prepare a game plan the day after your spouse passes away, once the creditors begin calling, you should be prepared to deal with them. Know your rights and understand which obligations you're responsible for and which ones aren't your problem.

Instructions

1

Compile a list of all your obligations. Break them down into your debts, your deceased spouse's debts and joint debts.

2

Retrieve your spouse's records. Look for initial applications and agreements with his various creditors. Review the terms of each agreement, specifically what happens in the event of the obligor's debt. Prioritize the debts that are secured by collateral such as your house, car or other possessions.

3

Contact each secured creditor, starting with the highest-priority debts. Explain to the company that your spouse has died and you're not able to pay the obligation. If you're a co-signer on the account, you're still liable. If the account is secured, the lender has the right to the collateral. If the creditor won't cancel the debt, work out a modified repayment program to fit your capabilities.

4

Contact each unsecured creditor. Explain to the debtors that your spouse has passed away and request that the obligation be charged off. If you are not a co-signer and the creditor has no collateral, it has no recourse to make you pay the debt.

5

Obtain your own financing to satisfy what debts remain that you can't pay on your own. If you can't work out an agreement with the secured creditors, alternate financing may provide you relief while allowing you to keep your possessions.