The death of the creditor does not terminate the debtor's obligation to pay. However, there is no need to rush to pay off the debt. First, it is necessary to establish the legal heirs of the deceased.
It is necessary
receipts or bank statements
If you find out about the death of the creditor, suspend payments. This does not mean that your debt will be written off. But since the legal successors of the deceased are his heirs, it is first necessary to establish their identity. Keep in mind that in addition to heirs by law, there may be heirs by will.
Within six months after the death of the creditor, your debt will be frozen. During this time, the heirs must enter into their legal rights. After one or more of them receive the relevant certificates from the notary, they have the right to apply to you for collection.
Do not accept claims from inheritance claimants prior to their entry into it. If there are several heirs, a problem may arise - with whom exactly to pay. You can go to court to resolve this issue. Make a statement of claim, in which you provide a history of your case and ask for a new payment procedure. You should do the same if your debt obligations mean interest on late payment.
Prepare for your trial. Find receipts or bank statements that prove payments you've already made. If you are not satisfied with the court's decision, you can appeal and initiate a reconsideration of the case.
Having identified a new lender, you can renegotiate the contract in his name. After the final settlement, ask for a receipt stating that your loan obligations have been fully fulfilled. Verify the receipt with a notary - in case of financial disputes or the appearance of new heirs, this paper will protect your rights.
If the deceased creditor has no direct heirs, do not rush to find out exactly to whom you owe the money back. Collection obligations lie with the creditor's successors. Perhaps after a while you will receive a subpoena, where the fate of your loan will be decided.