Secured Loans

The question can be raised regarding the death of the debtor. If the debtor dies and the loan is joint then the other party without any obligation have to pay the entire sum. For this lets take examples of husband and wife or two or more brothers.

If the debtor is single person then the creditor can do whatever he likes regarding the collateral if in the case the debt is unpaid. He is subject to hold the asset with a bonafide title. Some of the exceptions are there regarding single debtor. If the loan is taken for educational purpose say School Loan then the loan , may be still in the way of collecting.