What happens to your loans if you pass away?
in Banking, Insurance & Loans ·
Anyone able to help me out here? I’ve got an auto loan on my name, and there's a life insurance policy tied to it. On top of that, I’m juggling two smaller personal loans and a negative balance in my checking account. I don't own anything else—not sure if the car counts as an asset or what. Honestly, I'm just done. I have zero desire to keep going and just want everything to disappear. I feel like I'm backed into a corner with no way out. If I pass away, does my husband or someone else in the family have to pay off these debts? Thanks for any insight.