Covid 19 deaths and CC question

[Anonymous]

I must say thanks to all of you who responded. A lot of what was said here I now understand. It was never explainded to me before. But now with Covid the death rate is way up and I am in one of the three hot spots for Covid in Central Florida.

When people ask me now and when they are scared about "burning the banks" at least I will now give very little info as they really need to contact experts on their own behalf. But since most contact me first with questions I can give some very generic answers now. 

A big qustion which seems to be on the top of the list was in my first post. How do banks absorb this? I will now tell families that the banks have departments set up to  handle this and they should not worry if Chase is past due. Also I knew accounts should be closed right away to prevent fraud but with all this new information I can now give more answers that most are looking for.

In my 35 years of doing what I do I never had the volume of these sorts of questions before. I usually deal with homicides and cold cases this Covid is way out of the ordinary for me.

Thanks again

Mark

[dragontears]

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@Anonymous wrote:

I must say thanks to all of you who responded. A lot of what was said here I now understand. It was never explainded to me before. But now with Covid the death rate is way up and I am in one of the three hot spots for Covid in Central Florida.

When people ask me now and when they are scared about "burning the banks" at least I will now give very little info as they really need to contact experts on their own behalf. But since most contact me first with questions I can give some very generic answers now. 

A big qustion which seems to be on the top of the list was in my first post. How do banks absorb this? I will now tell families that the banks have departments set up to  handle this and they should not worry if Chase is past due. Also I knew accounts should be closed right away to prevent fraud but with all this new information I can now give more answers that most are looking for.

In my 35 years of doing what I do I never had the volume of these sorts of questions before. I usually deal with homicides and cold cases this Covid is way out of the ordinary for me.

Thanks again

Mark

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I would strongly advise you to NOT answer any questions about this, instead give general "seek professional advice" type of statement. You are not qualified to give what could be possibly viewed as legal advice and you don't want to accidentally leave yourself open to being liable for giving "legal" advice to grieving people when you are not completely aware of the financial situation of the deceased. Probate and estate laws can be tricky and everyone's situation is different. 

To address your specific question about how lenders deal with losses incurred by death of the borrower, it is the same as they deal with any other loss, they either file a legal claim (against the estate in the case of a death or a lawsuit for a living person) or they write it off. The reason banks must keep reserves is to insure that defaults/losses don't make them in danger of "failing". Every lender has some level of defaults assumed in their business model. 

[Brian_Earl_Spilner]

@Anonymous ot, but I always wanted to be a forensic pathologist. How many years of school and residency did you need?

[Anonymous]

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@Brian_Earl_Spilner wrote:

@Anonymous ot, but I always wanted to be a forensic pathologist. How many years of school and residency did you need?

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I did it quite fast. A total of 8 years plus residency. I grew up in a funeral home business, after high school I would go to the funeral home to read death certificates. I wondered what could have been done so this person didnt die or why this person was in the wrong place at the wrong time, even why would a spouse kill the other. 

When I finally finished school, and residency I was left with a few hundred thousand dollars of student loans, and about $3 in my wallet. The daunting task to find a job to pay some of the loans back was first priority. There are always plenty of jobs in this field so I landed one right away. I will always have a job unless people stop killing each other. You know that will never happen LOL. In this day and age it is probably a good choice, but most say that they didn't become a doctor MD to work on the dead. 

Thanks

Mark

[Brian_Earl_Spilner]

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

@Anonymous ot, but I always wanted to be a forensic pathologist. How many years of school and residency did you need?

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I did it quite fast. A total of 8 years plus residency. I grew up in a funeral home business, after high school I would go to the funeral home to read death certificates. I wondered what could have been done so this person didnt die or why this person was in the wrong place at the wrong time, even why would a spouse kill the other. 

When I finally finished school, and residency I was left with a few hundred thousand dollars of student loans, and about $3 in my wallet. The daunting task to find a job to pay some of the loans back was first priority. There are always plenty of jobs in this field so I landed one right away. I will always have a job unless people stop killing each other. You know that will never happen LOL. In this day and age it is probably a good choice, but most say that they didn't become a doctor MD to work on the dead. 

Thanks

Mark

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That's cool. What pathology did you do residency for and how long was that?

[Anonymous]

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

@Anonymous ot, but I always wanted to be a forensic pathologist. How many years of school and residency did you need?

---

I did it quite fast. A total of 8 years plus residency. I grew up in a funeral home business, after high school I would go to the funeral home to read death certificates. I wondered what could have been done so this person didnt die or why this person was in the wrong place at the wrong time, even why would a spouse kill the other. 

When I finally finished school, and residency I was left with a few hundred thousand dollars of student loans, and about $3 in my wallet. The daunting task to find a job to pay some of the loans back was first priority. There are always plenty of jobs in this field so I landed one right away. I will always have a job unless people stop killing each other. You know that will never happen LOL. In this day and age it is probably a good choice, but most say that they didn't become a doctor MD to work on the dead. 

Thanks

Mark

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That's cool. What pathology did you do residency for and how long was that?

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My residency was for two years. My pathology was for an additional two years. They really want to keep you broke LOL. I am sure it must have changed by now, I did this many decades ago before the internet. 

Thanks

Mark

[Remedios]

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

@Anonymous ot, but I always wanted to be a forensic pathologist. How many years of school and residency did you need?

---

I did it quite fast. A total of 8 years plus residency. I grew up in a funeral home business, after high school I would go to the funeral home to read death certificates. I wondered what could have been done so this person didnt die or why this person was in the wrong place at the wrong time, even why would a spouse kill the other. 

When I finally finished school, and residency I was left with a few hundred thousand dollars of student loans, and about $3 in my wallet. The daunting task to find a job to pay some of the loans back was first priority. There are always plenty of jobs in this field so I landed one right away. I will always have a job unless people stop killing each other. You know that will never happen LOL. In this day and age it is probably a good choice, but most say that they didn't become a doctor MD to work on the dead. 

Thanks

Mark

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That's cool. What pathology did you do residency for and how long was that?

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My residency was for two years. My pathology was for an additional two years. They really want to keep you broke LOL. I am sure it must have changed by now, I did this many decades ago before the internet. 

Thanks

Mark

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CP and CA are minimum of three years, always have been, and GP is four years. It hasn't changed, been set in stone since 1937. 

Fellowship for forensic path (once residence is completed) is only one year provided one passes the exam and earns ABP certification, but forensics per se is not a residency field. 

I am not that fresh from mine, but not removed enough to forget all those awful career path discussions 

[Anonymous]

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@Remedios wrote:

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

@Anonymous ot, but I always wanted to be a forensic pathologist. How many years of school and residency did you need?

---

I did it quite fast. A total of 8 years plus residency. I grew up in a funeral home business, after high school I would go to the funeral home to read death certificates. I wondered what could have been done so this person didnt die or why this person was in the wrong place at the wrong time, even why would a spouse kill the other. 

When I finally finished school, and residency I was left with a few hundred thousand dollars of student loans, and about $3 in my wallet. The daunting task to find a job to pay some of the loans back was first priority. There are always plenty of jobs in this field so I landed one right away. I will always have a job unless people stop killing each other. You know that will never happen LOL. In this day and age it is probably a good choice, but most say that they didn't become a doctor MD to work on the dead. 

Thanks

Mark

---

That's cool. What pathology did you do residency for and how long was that?

---

My residency was for two years. My pathology was for an additional two years. They really want to keep you broke LOL. I am sure it must have changed by now, I did this many decades ago before the internet. 

Thanks

Mark

---

CP and CA are minimum of three years, always have been, and GP is four years. It hasn't changed, been set in stone since 1937. 

Fellowship for forensic path (once residence is completed) is only one year provided one passes the exam and earns ABP certification, but forensics per se is not a residency field. 

I am not that fresh from mine, but not removed enough to forget all those awful career path discussions 

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I did spend more time as I first became an oncologist therefore a residency. When I was nearly finished I decided to go to forensics. I finished my residency for oncology but prior to just finishing I decided to go for forensics. My total was 8 years all combined. A long time for sure.

Thanks

Mark

[Remedios]

Right, but oncology is also a fellowship because it's preceded by internal medicine residency, both are 3 years, and internal medicine isn't intradisciplinary  with pathology, so it wouldn't shorten the duration of pathology residency.  

That career path would be med school four years, three years of internal medicine residency, three years to pass oncology board, three years for AP/CP, followed by another year of fellowship. 

Two board exams would also result in additional two to three years, written examination requires a lot of studying upon completion of residency but it's still a piece of cake compared to oral examination which really requires herculean effort. 

We've now arrived at 17 years (at minimum), that's math worthy of credit card forum. 

[Brian_Earl_Spilner]

Yeah, I'm gonna go ahead and pass on that. By the time I'm done and paid the loans I'll be too old to enjoy the money. Lotto tickets, here I come