Person died with credit card and personal loan due

Hello, My friend took loan from private bank and credit cards, and recently he died in accident, now he has given my name as work colleague, his personal loan and credit card has no guarantor. And I was the person who has confirmed he works with me, now bank has right to claim his dues on me? or His family? As he has no property on his name and nothing savings. What cane be done? Bank Will file anything on me and his family? 
Please do the needful. 
Retired Manager

If you have not signed any Gurantor deed on behalf of your friend, no action can be initiated against you for recovery of credit card dues of your friend.


Confirming that he is working with you is not a guarantee. But, examine the document which you had signed and given to Bank while confirming that your friend was working with you. Whether any undertaking was part of the document where you had given a guarantee.


No your not liable and bank can not recover anything from u. Be sure don't sign on anything without seeing carefuly

Unless one goes through the fine print, one does not really realise what they are signing for. Please check what you signed for. If the fine print says you are liable, well you may have no option. However, as you mention that your friend died in an accident, his legal heirs may get Accidet Compensation; you may liaise with them to reduce your burden, if you become liable.


If I am not wrong, the Banks take out an Accident Cover Insurance and your friend might have signed a nomination. Check


You have posted that:

"I was the person who has confirmed he works with me"


If in fact, he was working with you and you confrmed it then, it is  fact.

Have you made a wrong statement?

Apparently you have no liability.

Still the Bank is under obligation to confirm to the family of deceased  about (master) insurance policy (if any) thru bank and supply authenticated copies of CC issuance form and statements with signed charge slips, Personal loan offer/brochure/loan application/loan approval/loan disbursments/loan agreement/KYC docs collected/loan statements etc.............


Likewise if CC company/bank approached you it is under obligation to supply you authnticated copy of all docs on record. 

If decased was Hindu then his son/family has no liablity to pay the debt.

The CC company/bank can proceed to recover from his estate,if any,left by him. 



Reply Mumbai : 9820174108

1.  Deceased's  Credit Card liabilities are "civil type liabilities"  AND CANNOT be transferred to anyone, whosever, without following due procedure of law, under the Civil laws.  Typically the Credit  Card company has to write off the deceased's liabilities, as non-recoverable, subject to certain parameters.
There is no Criminal liability applicable, of whatsoever kind.

2.  There is no such legal liability as "guarantor or whatever", as far as Credit Card liabilities are concerned.  

Keep Smiling .... Hemant Agarwal


Why to repeat?



Without guaranter and witness a bank never sanction /give a loan to anyone ,check the documents carefully where and in which column you had signed .



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