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The departure of a loved one means not only experiences related to loss, but also costs. Its price is not only to organize a funeral, burial place and purchase of a tombstone, but also the issue of possible obligations of the deceased. It often happens that he had debts. Is the wife responsible for the husband’s debts after his death?

In life, close persons often hide many secrets from others. This also applies to financial issues, in which cases concealed for years, for example, loans, loans, debts, unpaid invoices, etc. can be a significant problem also after the death of the consumer. This applies to his potential heirs, in particular – a spouse or spouse.

Commitments – what happens to them after death?

The first is to know what is happening to the unpaid obligations of the person who dies. First of all, death does not mean for the bank that the obligation to pay off the remaining loan receivables is time-barred. What is even more interesting, the banking law regulating the scope of banking operations does not specify what is happening in the aforementioned situations. The Civil Code comes with help.

The first issue is a will. If the deceased left him, the issue of inheritance together with the inheritance of debts is the responsibility of the heirs identified in the inheritance. If the will is not left, then the so-called statutory inheritance.

Inheritance and statutory inheritance – differences

Inheritance means, in other words, acquiring duties to a given property from a deceased person. Both in the case of wills and statutory inheritance, both the family and the spouse may inherit. In the will, specific persons are indicated by the person making up the will, eg by assigning the plot to their descendant and the wife to the car.

Importantly, the records of the will have precedence over the provisions of the Civil Code, which, as mentioned earlier – regulates the operation of statutory inheritance.

Statutory inheritance – principles

According to art. 931 of the Civil Code, the so-called order of inheritance. It is a group of relatives who in appropriate order receives the appropriate parts of the inheritance. It is divided into five separate groups.

1. The first are children and a spouse (husband / wife). They receive the property equally, although in the case of a spouse there is a reservation – its part can not be less than 1/4 of the total inheritance.
2. If the deceased had no children, the fall is divided equally between the spouse (half of the inheritance), both parents and possible brothers and sisters.
3. If the deceased’s parents are no longer alive and he did not have siblings, then all property falls to his wife.
4. The deceased had no children and no spouse – the fall was equally for the parents, siblings and his descendants.
5. If the deceased had no spouse, the parents are dead and there are no close relatives – the fall falls under the act of the municipality. If he did not have a specific place of residence in the country, then the estate becomes the property of the State Treasury.

It is worth mentioning that the spouse is included in the inheritance only if he has divorced before and the court has ordered his right to inherit. This is most often the case for divorces with a wine verdict. If the divorce was of a different nature and the court did not decide on property matters – then the spouse has the full right to apply for the entire inheritance or part thereof in accordance with the provisions of the Civil Code.

What rules must be met for the will to be valid?

In the case of a will, its basic principle is the principle of validity. First of all, the person who writes down the will must have legal capacity at the time of making it. In addition, it must do it on its own – it is not allowed to create joint wills, e.g. husband and wife. The document must contain place, date and signature, which is best drawn up in the company of a notary public at the office.

Is the wife responsible for the husband’s debts after his death?

Currently, there is the possibility of acceptance of a decline. This means that the wife, receiving a given part of the estate or a whole, has the right to inspect its full shape. If the deceased had, for example, unpaid debts, loans, loans and invoices, then there are two options.

1. The first is the acceptance of the inheritance with the benefit of the inventory. It is the acceptance of assets and liabilities only from the amount of the inheritance value, i.e. both the assets and liabilities and debts.
2. The second method is the total rejection of the inheritance and waiving all rights and obligations. Then his obligations are forfeited on other relatives specified in the will or relatives defined by law, in the absence of a will.

Each heir has six months (six months) from the day of his death to take any of the above decisions. Unfortunately, if he reacts later, the drop automatically forfeits his spouse and he can no longer be waived.

It is worth adding that in the case of an intercourse or lack of knowledge about the debts of the husband, the wife, in the event of accepting the inheritance, also takes on his debt and the obligation to repay such loans and credits.

What is Personal Loans?

Financial institution or moneylender to get a personal loan or a line of credit. The lender will decide the loan amount (known as the principal amount) based on your annual income. Personal loans in Thailand are unsecured loans, which means you don’t have collateral at all when you borrow money. Someone who is paying for your existing debt. There are many terms when you borrow money, such as interest rates and draw fees and any other fees and charges. This varies from lender to lender.

Uses of a Personal Loan

People in Thailand using personal loans for various reasons. They include the following:

• Consolidating debts
• Medical emergencies
• Family emergencies
• Making a payment for a wedding
• Business or investment purposes
• Education planning
• Property purchases
• Transferring outstanding credit balances for lower interest rates

Documents Needed for Personal Loan Applications

• In Thailand, you must be at least 20 years old, but not over 60 years old, must be a permanent resident status
  • Corporate card or government enterprise employee card
  • Your latest salary slips and a copy of payroll account records
  • A census registration

  Your credit history plays a big part in your loan approval as well. You need a good credit history Banks have access to it, and take this as part of their evaluation process.

  What You Need to Know Before Getting a Personal Loan

  

  • Credit history, interest rates and loan approval

    Before your loan application is approved, is a credit check that is done to make sure that A poor credit history and loan rejection. You should always maintain a good credit history.

    Before your loan application is approved, is a credit check that is done to make sure that A poor credit history and loan rejection. You should always maintain a good credit history.

  • Additional fees and charges

    It’s important to check that the lender imposes. The most common fees are annual fees, fees and administrative fees and charges for late payment fees.

    Because of certain market conditions, such as the annual fees.

  • Fixed Instalment Loans vs Overdrafts

    Fixed Instalment Loans and Overdrafts are most popular loan types in Thailand.

    Fixed instal loans are bound to a fixed schedule with fixed loans On the other hand, Overdrafts are a “safety measure” for those An overdraft, the borrower from incurring additional fees and charges when they withdraw However, overdrafts also come with their own credit limit, so people are discouraged from withdrawing multiple times.

    Keep in mind that there are serious issues when you are secured or unsecured.

  • EIR is a better tool for comparison

    The Effective Interest Rates (EIR) includes all fees and charges (eg annual fees and handling fees) and interest is calculated on a daily basis. This is the best way to compare the best products to find the best deal.

Although banks and non-bank companies are considered two, the only possibilities in terms of the need to borrow more money, they are not monopolists on this issue. In addition to loans, loans and payday loans, there is also the possibility of a private loan. What is a private loan, what to watch out for and whether it is safe?

Although the popularity of banks and loan companies is growing at an avalanche pace, and the number of non-banking customers is multiplied every year, there is still a large group of people who for various reasons do not want to use these services.

Either they do not trust loan companies, or they do not have time to go to the branches located in a given place, they do not find themselves in online debits or they simply can not – bad financial history or poor creditworthiness do not allow them.

If you can not borrow at an institutionalized loan company, there is another path – private loans. It is a niche, but regulated by law and still popular method of borrowing money by private individuals. And despite the fact that around this method of borrowing money – rightly or wrongly – raised a lot of fears.

Private loans – what is this concept?

Private loans are a type of liability that are incurred by persons without a registered activity in the form of a loan company by the Polish Financial Supervision Authority (KNF). In this way, a private loan can really be given by any person.

• Family member.
• Partner / partner, husband / wife.
• Friend.
• A stranger.
• A person who moves in a completely different industry every day.

A private loan can take the form of an object as well as cash, and the rules of its operation are regulated by the Civil Code – just like the loan sector once. The loan value can be any. From a few, a dozen or so, up to several dozen and several hundred thousand. Up to PLN 500, the loan does not have to be written in writing, above this value – it is recommended that the relevant document be prepared. Otherwise, the transaction can theoretically be undermined by anyone.

How to search for a private loan?

Although a private loan is in itself a liability functioning between people who know each other well or with a close command, this sector offers its services, for example on the internet or in the form of announcements on boards and poles.

It is worth looking for people offering a private loan from certain websites and from people who provide as much as possible verified information about themselves. Unfortunately, the potential risk of meeting a cheater is considerable. For this reason, it is best to look for a private loan in the company of an experienced person or a financial advisor.

Why is it worth to take out a private loan?

There are many arguments for the popularity of private loans and the sense of looking at this type of commitment.

• They are simple and quick to get.
• They often have loose conditions, determined on the basis of negotiations between the parties. They do not result from the provisions of law.
• They do not require too many formalities, most often only a contract and an ID card are needed.
• It is rarely required to verify in the databases of debtors and financial registers – as a result, a person taking out a private loan may not have the best financial history and negative creditworthiness.
• You do not need to verify the data, it is assumed under a gentlemen agreement that both parties are fair and give true information.

Private loans and security

Going back to the security issue, it is worth discussing whether the private loan is safe at all. And it is entirely dependent on the type of person in whom a private loan is made. Naturally, it is the least risky to borrow money from relatives and people we know well.

In the case of an unknown person, in addition to the identity verification mentioned above, any person who is reluctant to disclose his / her details should be avoided.

• I do not want to provide full personal information.
• He does not want to give information about what he does.
• He uses unnatural haste in signing a contract or does not want to sign it at all.
• In an exaggerated and exaggerated way he extols the offer of his loan.

What elements of the offer should you pay attention to?

In the case of private loans, it is worth remembering what is most important when reading the loan offer. A private individual, if he specializes in such obligations, in a similar way to the loan company will try to give the advantages of his offer. It is worth approaching it critically and prepare yourself for verification of key elements.

• The loan amount and the repayment date (whether it will settle the obligation).
• Additional loan costs (what percentage of the liability is, for example, commission or interest).
• Interest rate.
• The clause of consequences of untimely repayment (after which time, for example, penalty interest is charged or the case is referred to the court).
• Securing the contract – beware of private loans from unknown people who want to, for example, pledge a house, a car, a plot and any property.

A private credit free loan for the self-employed can be used for the establishment of a company, for the expansion, but also for private things. In the self-employment, the house bank certifies a bad credit rating and refers to the income, which is not available regularly and in a monthly identical amount.

Above all, in the first two years of setting up a business, the creditworthiness is so limited that only a private credit-free loan for the self-employed is possible and the only option for more liquidity. However, this is by no means a disadvantage, but can be a great advantage for the borrower in the right decision with very favorable interest rates and flexible framework conditions.

A free loan for the self-employed from the internet

Private investors and foreign banks do not put the creditworthiness of an applicant in the foreground. Even in a difficult financial situation or a seemingly hopeless case, it is possible to apply for a loan and rely on alternative collateral. Online loans are requested directly through a form on the internet, which can be found on the website of the focused lender. Here, all required information about the applicant’s person as well as the existing securities must be shown and precisely communicated. For protection, possessions, savings plans for retirement, insurance with capital formation or even a guarantee can be chosen.

Those who are not liable with their own possessions or existing money and can thus make a hedge relies on a guarantor and transfers the liability for the requested sum. Everyone can guarantee, even if he is not related to the borrower. Thus, business partners or friends are also eligible, a private credit-free loan for self-employed is a guarantee for approval and paid promptly to the borrower. A comprehensive search is worthwhile, as not all loans fit every applicant and prove to be an optimal decision.

A private credit free loan for self employed in comparison

In free portals for a comparison, potential borrowers have the opportunity to view offers by comparison and thus to choose a high relevance of the loans to their personal claims. Above all, flexible contractual conditions should be the focus and help to make the term flexible and to be able to exclude problems by not possible adjustment of the eradication.

If the budget decreases or increases within the term, a change in the repayment may become a desire. But this only pays off, it does not increase the credit and is possible without bureaucracy. With the decision for flexible framework conditions one makes a decision, which provides within the term for enormous advantages and individual possibilities.

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Personal Loans FAQ

Do I qualify for a Personal Loan?

Most Banks will require a Thai Citizen or Permanent Resident at the age of 20 and above (but not over 60), with a monthly gross income of THB 10,000 or more. Proof of identification, income, and residence must also be submitted Banks will also look at your credit rating before approving your loan application.

How much can I borrow?

Most banks and lenders in Singapore provide loans from THB 1,000 up to THB 400,000 depending on the borrower’s credit history. They set an upper limit on how much can be borrowed, which can range from 6 to 10 times the amount of their current monthly income, or a fixed amount. Whichever amount is

How long will my personal loan application take?

Your Personal Loan’s processing time depends on the bank or lender. Some banks send an approval-in-principle as quickly as an hour; others may take a day. May on the lender, the loans may be disbursed

The non-bank loans sector enjoys unflagging popularity. Consumers are regularly clinging to him, who for various reasons do not want or can not take advantage of the classic banking loan. It gives different benefits. Are non-bank loans visible in BIK?

Non-bank loans have seen a steady increase in popularity. A group of diverse clients comes to them. For some, the loan is the first commitment they have to face and uses it encouraged by advertising campaigns or a popular opinion about the ease of obtaining funds. Others use loans after an unsuccessful attempt to obtain a loan from the bank or being aware that the current financial situation will be treated negatively by the bank in advance.

And it is mainly the prevailing opinion about the ease of obtaining a loan is today a factor that works in favor of the popularity of loan companies.

Loan – benefits in relation to a bank loan

The basic element that distinguishes the loan and banking sector is looser and less scrupulous verification of consumers. Banks always check if the consumer has employment. The length of service, type of contract and documents that can certify this are verified.

In the case of loan companies, this is not checked by every lender. There are a lot of them who do not require any certification as to their employment, nor the length of their internship.

Another difference, for many consumers being the most important factor, is a more relaxed attitude to financial registers and debt bases. Banks are very thoroughly checking such databases as the Credit Information Bureau (BIK) or the Bureau of Economic Information (BIG, KRD, Infomonitor).

In the case of noting the fact of being a current or past debtor, many consumers face denial of credit or unprivileged terms of commitment. The same is true of the delays in repayment.

Loan companies sometimes do not treat entries in BIK and BIG as determining the loan terms. Often, in general, they do not cooperate either with either of them or with one of them.

Are non-bank loans visible in BIK?

Here it is worth going to the aspect worth moving. What is the question of the visibility of a non-bank loan at BIK when it has already been allocated to the consumer?

Regardless of whether the consumer repays it without any problems or if it has a problem with timely repayment, many would like such an obligation not be visible in the financial registers.

The issue of the visibility of a non-bank loan at BIK depends on one thing. As mentioned above, they are only visible if the loan company cooperates with the Credit Information Bureau.

There is no such obligation and it is completely free. Therefore, there is quite a large group of loan companies whose liabilities are not visible in BIK or are recorded only in specific cases.

Visibility of a non-bank loan in BIK – types

Data in the Credit Information Bureau (BIK) can be collected in various ways. When browsing the offers of various loan companies, you can generally distinguish three of them.

• Full cooperation with BIK – information about the loan is recorded from the moment it is granted. BIK collects data on regularity or lack of regularity in repayments.
  Examples of such loan companies:
  – Aasa
  – Alpha Credit
  – Credit.pl
  – EuroLoan
  – ExtraPortfel
  – Halo Loan
  – Hapi Loans
  – Easy Credit
  – Quick Cash
  – ViaSMS
  – Vivus
  – Wonga
  – Zaplo.
• Note only delays in repayment – there is a large group of loan companies that enter their consumers’ data only if there is a delay in repayment to 60 days (2 months) from the final date.
  Examples of such loan companies:
  – LendOn
  – NetCredit
  – Smart Loan
  – Soho Credit
  – Visset.
• Lack of any cooperation with BIK – these are loan companies that do not cooperate with the Credit Information Bureau at all. As a result, loan data will never be found there.
  Examples of such loan companies:
  – Ferratum
  – Filarum
  – PLUS loan
  – Cheap Credit
  – Wandoo.

Is it worth using the services of a company that does not cooperate with BIK?

If the consumer is just looking for an interesting loan offer, the issue of visibility in BIK can be treated as an important parameter. The list of companies that cooperate with the Credit Information Bureau is not a secret and is easily available.

What benefits can be associated with getting a loan from a company that does not cooperate with BIK?

First and foremost, no mention in BIK. Regardless of repayment and delays, this is not recorded in this register. As a result, it may be easier to get a loan or product for installments, despite a problematic episode with a non-bank liability. However, the condition must be a lack of cooperation with other databases, such as BIG, KRD and ERiF. Otherwise, the data will still be checked in these databases and come to light.