A personal loan for the kitchen, buy now pay later, car finance: debts like these are often invisible to your family until the first arrears letter arrives, and by then late fees have started. Clear information lets them keep up with payments or tell the lender about the death before the costs grow.
What to write down
- the lender and the type of product, for example “personal loan for the kitchen” or “sofa on finance”,
- the payment date, such as “the 10th of each month”,
- where the agreement is, for example “in the banking app” or “desk drawer”.
Also note whether the payment goes out automatically by Direct Debit or has to be paid by hand. For whoever steps in to handle your affairs, that's one of the most useful facts.
In the app: Financial Liabilities, then Institutional Cash Loans.
