Debt

[Done182]

I am £1500 into my overdraft, I am relying on PIP (benefits) payments to repay this, if I ctb, I am guessing I will no longer get PIP payments, I am wondering if my family will have to repay that overdraft after my death?

I am £1500 into my overdraft, I am relying on PIP (benefits) payments to repay this, if I ctb, I am guessing I will no longer get PIP payments, I am wondering if my family will have to repay that overdraft after my death?

And if so how bad a situation would this put them in?

 

[Walilamdzi]

Overdraft debt wouldn't have to be repaid by your family unless it's in a joint account with them. How long would it take you to repay the overdraft? Is the debt contributing to your motivation to ctb?

 

[Done182]

Maybe 6 months, It's a student account so I don't think it's connected to them, it's a bit of the shame connected to me being in debt that wants to ctb but it's not the only reason I want to ctb.
Is that a general rule across all countries in terms of banking?
I'm in the UK

 

[Walilamdzi]

I looked on moneysavingexpert and it said it wouldn't be transferred to your family.

 

[Done182]

That's a huge relief thank you for your help.

 

[Superfluous]

Keep racking up that debt. Those banks owe us big time.