Nobody likes to talk about a loan for the funeral. As a grieving family member of the deceased, loved one, you do not want to burden yourself with additional worldly questions.
This little guide is written with the sincere wish that you do not have to waste your grieving time on a complicated loan search. Find out what information you need to measure the loan amount correctly.
We will also inform you which financing options – considering your personal creditworthiness – allow a simple credit approval procedure.
Your family funeral credit does not have to be in your account within a few days. Funeral directors know very well how much effort and time it takes to organize everything properly. As a relative, you do not have to fear payment pressure, a serious funeral home. The funeral bill is often only in your mailbox weeks after the funeral. The loan for funeral expenses is therefore only at the bottom of the priority list.
With the practically automatically deferred payment, you have sufficient time to process your own grief appropriately. You will see, after a short period of deep grief, you will find the strength to settle the estate. The will gives you information about your own funeral wishes the deceased had. Most people wish for little bureaucracy for their own funeral and only a ceremony in the closest family circle.
As a rule, only people who were able to make sufficient provisions for their funeral expenses themselves opt for large funeral ceremonies. You can use the bank statements of the deceased to see whether or not death insurance has been taken out. Insurance premiums for the insurance are part of the regular debits. The last debit can be a maximum of one year ago. The clerk at the house bank will give you, as the heir, the necessary information about any savings.
The inheritance of the deceased usually applies for the loan for the funeral of a relative. In addition to cash and insurance, tangible assets can significantly reduce the loan amount required. If the deceased already lived alone, the credit requirement specified by the funeral home’s cost estimate is reduced by the sales proceeds from the budget resolution.
The testator often considers several people. If several people take over the inheritance, they share the material values, but also the resulting costs. Basically, the funeral costs, practically as the last worldly edition of the deceased, have priority over all distribution requests of the heirs.
Communities of heirs, whose members are still fully employed, find low-interest loan offers for the funeral. Together, they apply for the total loan amount required using a credit comparison calculator. There is no special funeral loan. All loan offers are eligible for free use.
A long life together is the dream of every couple. The death of the beloved partner is not only a major emotional loss for spouses in old age. The economic situation also changes suddenly for the surviving partner. The already scarce pension is reduced. Old-age pensioners are no longer creditworthy at commercial credit institutions. The surviving partner hopes in vain for government support, such as the previous death grant.
The best option for the funeral loan in this location is strong family ties. One of the working children takes out a loan on behalf of the father or mother. In this way, children save their remaining parent, in addition to the grief of losing their partner, from having to overcome financial worries. Given the low pensions, it is extremely doubtful whether the old man or the old lady can actually pay off.
A loan for the funeral with small installments helps to ensure that family solidarity does not put too much strain on the household budget. The way to borrow is again recommended via the online loan comparison. Favorable interest rates and small installments do not have to contradict each other with current loan offers. Without the selfless help of relatives, the credit for the burial of the partner, for pensioners, turns into a problem loan.
Commercial loan officers have very little scope to take credit risks. From a human point of view, no clerk at a bank or savings bank likes to refuse to grant loans for the funeral. Internal regulations, such as the age limit for lending or credit security through proof of attachable income, tie the hands of credit decision-makers.
It is different when a funeral loan is sought from private to private. Any private investor can understand the need for lending. Age limits do not block the loan request on Good Finance, the established portals for private lending. Each private lender decides exclusively according to his own ideas whether he wants to grant a loan or not.
One of the deciding factors in responding favorably to lending is the ability of every investor to finance only small installments. This gives the human component of every credit decision from private to private the freedom to help. If many investors help with small amounts, the willingness to help and humanity ensures the loan for the funeral. There are fair opportunities, although the amount of the pension allows repayment very slowly.