If you have inherited your debts, you need to start solving the situation as soon as possible.
Legacy is not always about income. Sometimes our grandparents, parents or uncles and aunts have big debts, whether on health insurance or thanks to various consumer loans. The laws are constantly changing, according to the currently applicable heirs are fully responsible for the debt, all together. Of course, no matter how the debts actually arose, it may well be from long- term unpaid public transport fines.
The Civil Code decides that debts must be paid
Since January 2014, the long-prepared new Civil Code entered into force. According to him, the situation is quite clear, the heir is entirely responsible for the debtor’s debts, even beyond the entire referenced legacy. However, if the inheritance is burdened with debts and the heir is well informed, action must be taken immediately. A period of one month has elapsed since he was informed by the court of the right to have an inventory of the estate in force. If heir does not make use of it, he will have little chance of doing so additionally.
It is also not possible to refuse only debts
If you want to renounce the inheritance, of course you can. However, bear in mind that once you refuse debts and do not intend to pay for the deceased relative, you must renounce the acquired property. In other words, one cannot simply and without one another. If the inventory is not raised within the deadline, debts must be paid in full. If it is exercised, the testator’s debts are paid only up to the amount of the inheritance allocated to the specific heirs. The exception is when the heir has his / her permanent residence abroad, then he has three months to think instead of the usual one.
Anything can be included in the debts
Do not be mistaken, debts arise not only from loans, but often through unpaid bills. If the deceased did not pay the arrears for electricity, mobile lump sum or gas in due time, the amount owed increases and sometimes can reach astronomical heights. Similarly, the object of inheritance (ie, an asset or acquired property) can be virtually anything, including finances, rare letterpress and paintings, or even pets with a pedigree and so on.
Don’t you want to leave debts? There’s personal bankruptcy
If you do not want to leave your offspring alone with debt and get out of the snare debt trap, personal bankruptcy is offered. It has more and more friendly conditions, administration is not as complicated as it might seem at first glance, and often nonprofit organizations can help you. Of course, it is a long-distance run, you will have to wait for collecting the necessary formalities and processing creditors’ requests in court. And under what conditions can you even formally apply for personal bankruptcy?
- You are at least a couple of creditors. Two loans with the same company equals one creditor.
- You are demonstrably unable to pay off your debts. Enforcement proceedings are in full swing, creditors are waiting.
- It is necessary to file a petition with the regional court. All with the assistance of an accredited specialist.
Sure, dealing with debt is definitely not as simple as our first free loan and its arrangement, but in the future you will feel good and the children will certainly thank you one day. For having personal finances in order means leaving this world in peace and quiet, we certainly do not have to discuss it in any lengthy way. It is good to have all your things finished, leave something to the children and die happily at home in the circle of their loved ones. The inheritance will then be solved by a quality testament, which can be taken care of by a notary at any time – you can even write it on the threshold of fifty.