What happens to personal loans if you die with no assets, will or money in your bank?

r/

Location: CO, USA

Would my family still be responsible to pay back the outstanding loans? Like what if I didn’t have a will or anything in my “estate” that could be sold to pay off the outstanding balance?

Comments

  1. redcremesoda Avatar

    Hope you’re doing ok and in a good place. If not, please reach out to someone. There’s always light at the end of tunnel, even if you have a terminal illness. The debt would go to your estate and your family would not be responsible.

  2. too_many_shoes14 Avatar

    If somebody cosigned on the loan they would still be responsible