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This Happens In Iceland When Someone In Debt Dies & What Happens To Student Loan if You Die

what happens To person family when they die in Iceland. The money owed to deceased person, who have to Pay , what happens to student loan After Parents die

when person someone dies debt who pays it , what happens, & What Happens To Student Loan if You Die

Article submitted by Adelia Agla ( An Icelandic Resident), No modification has been made or allowed.

Deceased Estate, A Real Estate Liquidate

First, the debt after the person deceased depends on where you live or country to country, each country have its own complex rules. Our country has different laws than U.S. While per the United States government rules, they can’t go after to your family members, but certainly, the debt specialists probably can make a claim against person real estate or they could be forced liquidate deceased assets to satisfy the debt.

when person someone dies debt who pays it , what happens, & What Happens To Student Loan if You Die
IMAGE CREDIT : PIXABAY

No Such Thing: Student Loan Forgiveness After Parent Death

A country such as an Iceland – can go after your family member, whether they are related through marriage or not. Simple example: A man married to a woman. She had one grown daughter and had one adult son. After the parent death. If their son has defaulted on his student loans. The son’s student loan fund is now going after the woman’s adult daughter and that’s implemented on the entire population, so there nothing such thing as “Iceland forgives entire population….debt”, which was just a hoax.

A High Iceland Bank Interest Rates

Though Icelandic Laws virtually ensure banks high profits, including the scheme, know as value guarantee, The value guarantee means that the principal amount of loan increases along with inflation. And suppose if you borrow $9,000 and pay back $80/monthly, and inflation point is suppose 12% and interests rates is almost 9%, that means after a year, you’ve paid off almost $11,00 on a $9,000 loan, (my calculation may be wrong) with this, you still owe the bank $11,000. Mostly, All banking the laws in Iceland are designed to minimize the risk of lenders.

We do not claim any responsibility for the truthfulness of article nor any modification has been made to this content.

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