Death is as much a part of life as birth. While the birth is a very joyful event, which everyone involved is eagerly looking forward to, a lot of sadness and death make us very sad and the associated processes and decisions to be made are not easy for anyone.
It can also be painful if the cost of burial is offered. Several thousand USD are necessary even for a very simple and dignified burial despite everything. A lot of money that must be raised by the relatives should the deceased not have made any arrangements for his last journey. Since few people do this because nobody likes to think about their own end, many relatives are financially overwhelmed when it comes to paying outstanding debts. A loan for funeral expenses can help in such a case and create quick liquidity.
The installment loan as the best option
In the wake of mourning for the deceased, it is not always easy to make rational and, above all, sensible financial decisions. Therefore, we would like to give you a few important key data about a possible loan for the funeral expenses, which should help you to make a quick decision that makes sense for your situation.
If you have to think about a loan for the funeral expenses, then you should always get a quote from the undertaker first. Find out whether the deceased left an order regarding his own burial. Many want a specific form of burial (earth or cremation) and also have very clear ideas about the way in which the funeral should take place.
With this last wish, you can plan the funeral together with the undertaker and thereby get a financial overview of the costs that may have to be financed. Please do not forget the costs for the cemetery and the authorities, which can also be a few hundred USD.
With the help of the cost estimate created in this way, you can start looking for suitable loan offers. As a rule, you will have to resort to a traditional installment loan that can be optimally adjusted to your costs. You will find such a loan as a loan for the funeral expenses at any bank. You can always calculate particularly low interest rates if you have a good credit rating and take out the loan with a direct bank. You can reach them via the Internet. If you are lucky, you will receive an offer with an effective interest rate of less than 3 percent.
If there are several relatives, then spread the burden of the loan over several shoulders. The more applicants, the better the credit rating and the lower the effective interest rate, which includes all interest and fees related to the loan for the funeral expenses.
The loan for the funeral expenses from the undertaker?
Many funeral directors now offer funeral finance. Not because they see good additional earnings in it, but because they know the concerns and needs of their customers. The undertaker does not necessarily work with a bank and acts as a credit broker. It is rather the case that the undertaker offers an installment payment, which sometimes even does without interest payments. So you can pay off the services that the undertaker receives in small installments. Only a processing fee is due.
No installments can be agreed with the undertaker for the costs that are incurred all around, which include the cemetery fees, the costs for the stonemason, the hospitality at the funeral service and the costs for various offices (death certificate, etc.) become. These costs must be offset against the respective service provider. If these amount to quite a high sum, it can be considered whether a small loan is taken out for it, while the costs for the undertaker are paid directly to the latter in installments.
Here, however, it is important to calculate exactly and consider which variant is the cheapest. And maybe in the end there is also a small legacy that can be used to quickly replace the loan for the funeral expenses.