Is it possible to inherit a gambling debt?

[darkangel11]

I can tell you how it works in the EU and I bet it's very similar in other countries. When your parent passes away, you either go to a notary or to court, depending if you have a last will, or not and you decide if you accept the inheritance, or not. Usually if the debt is higher than the inheritance value, people don't accept it, but you cannot accept it partially and once it's done you receive everything, meaning the whole estate and all debt. You can't say you accept this and not that, so be careful what you sign.

[borovichok]

It depends of the law and the regulations of the country where it's happening but usually debts can be inherited and the children can only reject the whole legacy if they don't want to have to pay them. That could be seen as unfair for many people but I think it's a protection for lenders and a better guarantee for borrowers who have children. Lenders are rarely responsible of the death of their debtors so it would be also unfair for them to lose their money because of that actually.

I don’t think any country`s law permits children must inherit their father`s debt. This used to be the old practice but today, most practices have changed since man is dynamic and so society changes. Before a person is given a loan, there must be collateral which is equivalent to the loan collected. A child can decide to inherit his father`s debt willingly if he is capable of paying and also doesn’t want to lose a family`s property because of the loan.

This is a similar case to what happened to a friend. A friend of mine cleared his father`s debt after his father`s demise. His father owed the bank and used his house as collateral. When the bank came to claim the house he offered to pay his father`s debt to retain the ownership of the house and the bank accepted. So, it is possible to inherit a father`s debt but you are not legally bound to clear the debt.

[Aanuoluwatofunmi]

Its very possible to inherit gambling debt especially when one is surrounded by addicted gamblers close to him, buts to say the truth, its a very bad thing to see that parents are into gambling and they are in debt, this will be a loads of headache on the children they are leaving behind, parent are meant to be so concerned about the future for their children and the possible ways they could help the situation with that and not to make the worst and be inconsiderate about the consequence to every of their actions in gambling, we don't have to be an irresponsible gambler, instead be considerate and think as accordingly for the future to our children.

[red4slash]

A loan is a guarantee, so in this case i think it is possible to collect the guarantee that was previously promised if the debtor dies but still has a debt or if they can pay then the guarantee will be returned and the family will be asked to pay the remaining debt.
This kind of loan case is not only for gambling in the end because after all in this case i think it is included in the loan even if the money is used up in gambling but it is still a loan in the end.

But its indeed the worst possibility and should be avoided so that we do not harm others including families when our gambling activities are carried out because we dont know what happens in the future so we should think more logically. so that the gambling we doesnt become a burden for our closest people when we die .

[coolcoinz]

Yes, of course it's possible to inherit a gambling debt.

I don't know how often this happens, but inheriting a debt in general is a pretty common thing.

There was a case that I read about years ago where a small child inherited a debt because by law when someone dies you have 6 months to notify the court that you don't want the inheritance and this clears you of any debt, but if you don't do it, it's all on you. The problem starts when you're a child because in such case your parents have to do that for you, but what if you don't even know that someone close has died. Let's say you have a grandfather who lives abroad and you don't stay in touch. He dies, gets buried by some friends, but friends don;'t inherit stuff, so it all fall on you, you accept it and then get to know about the debt.
Pretty shitty situation if you ask me.

[adpinbr]

There Is a process of borrowing money from any loan company or through a loan agent different loan companies have their own way and rules of borrowing money. Some people ask for Collateral some people ask for grantor some people also ask for some of your Bank details to be sure that you can be able to pay back the debt if you truly get, such money a few months a few years depending on the duration of the loan, so also, we definitely check your account statement and see what has gone in to see if you’re capable of releasing such amount of loan to you. Different companies have their own way if anyone should borrow someone alone without asking or Acces  for anything that will enable the person come back to pay the loan it’s on the person,you can’t blame the gambler.because the person might not know they don’t care axing much about that because even if they ask, no no one will ever tell loan  company that he or she’s borrowing money for gambling.

[mammusu]

Its very possible to inherit gambling debt especially when one is surrounded by addicted gamblers close to him, buts to say the truth, its a very bad thing to see that parents are into gambling and they are in debt, this will be a loads of headache on the children they are leaving behind, parent are meant to be so concerned about the future for their children and the possible ways they could help the situation with that and not to make the worst and be inconsiderate about the consequence to every of their actions in gambling, we don't have to be an irresponsible gambler, instead be considerate and think as accordingly for the future to our children.

As a parent, you should not do something that will burden your child when he or she is gone, especially if they leave gambling debts, which in my opinion is completely unreasonable. Because how could they think of going into debt to gamble? I think that is something that is not wise at all. Especially if they are parents who should set a good example for their children, because in my opinion there are two possibilities if a child sees their parents' behavior, the first will follow and the second will reject it. And what I worry about is that when they try to follow what their parents did in gambling, it will be something bad for them in the future.

Parents must set a good example for their children, don't let what they do become an example of bad behavior. I'm sure if parents still had a good mindset, they wouldn't do something like this. However, I will not deny that there are some who do something like this, maybe this is only a small part, but still that cannot be a justification.

[sunsilk]

There is a term 'debt condonation' or 'debt forgiveness'. But this shall come from the lender if he'd just forgive the borrower upon death.

I think there are certain laws that will make the debtor totally debt free after his death and there won't be any inheritance from that person if ever it's a battle from the court and that lender will take all of the assets that should be for the kids.

It's kind of complicated because it depends on the lender, the country and its rules and laws about such issue.

In my area there is still a term for debt forgiveness for the deceased and this raises the question of whether the family left behind will just keep quiet and let it go without paying the debts of the deceased or whether someone will actually do that. there are still family members left behind who can afford it. To get around this, the point is to return to each person's point of view.
If I hear that there are people who forgive people who are in debt, it would be noble if they only gave them the money they lent, but this is probably only a small percentage of people who have a generous spirit.
Because what is happening now is that it is very difficult to make money so only 1 in 10 people are able to do it and most people will still survive to get their money back.
If we look at it from a legal perspective, I see that up to now there is no law regarding debts and receivables, but if previously the borrower and debtor had mutually agreed regarding stamp duty, perhaps if the debtor broke his promise then the borrower could sue. for his mistake. carried out by the debtor.

If the family has been given the debt forgiveness then their silence makes sense because they won't be charged anymore. But this really depends on the loaner if they'll apply this.

I think what makes the argument strong is about the contract of the borrower if any of his family member co-signed in that contract. Otherwise, there's no sense for the loaner to push through with the debt of the deceased gambler.

The family can typically say that they have no obligation in paying of their loved ones that already passed and they have no idea about that debt.

[Hirose UK]

~snip~

I don't think a gambling debt can be passed down.  I could be wrong but that would seriously suck.  What happens in the case where you don't even speak with your parents how would that debt come down to you now.  Same goes with all regular debt that doesn't have collateral tied to it.

That's right, in essence children are not collateral when taking out a loan. Gamblers usually owe money to close friends or the bank to take out loans. However, as far as I know, if someone dies, the bank loan does not have to be repaid. Meanwhile, debts with individuals or debts with relatives are very conditional, where to collect them from their children or their families, they must also include evidence such as notes or proof of loan transactions. Of course it was very annoying, because when his father died he hoped he would be fine, not inheriting debt, especially debt that was used for gambling, that would really break his heart.

Problem of borrowing when the person concerned is gone will become more complicated, if it is bank or company that offers loan then not everything will be easy and can be lost without needing to be repaid because each country has different regulations.
Moreover, there will always be guarantee when borrowing from bank or certain company, even with friends or relatives if it is large amount there will also be guarantee and also an official statement regarding the loan agreement.
But it cannot be imposed on children because child cannot take over his parents debts even under certain conditions because there will always be written agreement regarding all these things.
Usually there will be confiscation carried out by auctioning the loan collateral and the remaining money from the auction which is used to pay off the debt will be handed over to the family, this is little knowledge that I have.

It just that usually if they are gambler and are in debt due to gambling activities, they will very rarely take out loans from the bank because they will be more likely to borrow from friends or relatives with an agreement agreed to by both parties.
But there are some who borrow from loan sharks in casinos and this will be much more difficult because loan shark will have an unfair way of collecting debts, even though the person concerned is dead, the debt will still be collected no matter what.
It just that lending money to loan sharks in casinos can only happen in offline casinos.

[Crypt0Gore]

It doesn't end with gambling debts, as a good son or child that you are, you must clear the debts of your parents after laying them to rest, it's the right thing to do, and if the children are still very young then families should be able to handle the debts.

Maybe it's not the same in every other country since traditions aren't the same but this is how things are in my country, as an upcoming parent myself I don't recommend having debts on you, I am not the type that use debts to do anything, it's not in my nature.

It's better if we learn from this instead of just discussing about it, don't grow some stupid debts on yourself, if anything happen to you, your kids will be the ones to pay up, and that's not good, really.

[Sim_card]

It doesn't end with gambling debts, as a good son or child that you are, you must clear the debts of your parents after laying them to rest, it's the right thing to do, and if the children are still very young then families should be able to handle the debts.

Maybe it's not the same in every other country since traditions aren't the same but this is how things are in my country, as an upcoming parent myself I don't recommend having debts on you, I am not the type that use debts to do anything, it's not in my nature.

It's better if we learn from this instead of just discussing about it, don't grow some stupid debts on yourself, if anything happen to you, your kids will be the ones to pay up, and that's not good, really.

Yea, of course it is a norm for children to inherit their late father's debt and pay it up, so that they can live peacefully. A child should not only inherit something good from his father, but should also welcome the ugly ones like debts. If a man dies does not mean that he goes to grave with his debts, but whoever is in the shoes of paying such debt would be held responsible to pay it. If the gambler left properties or money equivalent behind, it would be converted to cash and clear up the debt.

[348Judah]

The high rate of gamblers who take loan for gambling purposes is quite alarming, and most of them are fathers to kids. Most of them don't end up taking care of their debt before passing.

Is very common in most places, were a father will use his house or other valuable properties as a collateral that if he doesn't pay on a particular time they should hold the property until the depth is being paid, that's what most family are passing through especially when the gambler is the father, however I have actually witnessed a case were a father borrowed a huge sum of money and submitted his house documents that if he did not meet up on the required date they should claim the house, although the reason why he borrowed the money was because of a game that he was certain will play so out of greed he decided to stake the game with everything he has, to his greatest surprise he lost the game and he could not withstand the trauma so died leaving the family homeless. This is the reason why people should control there gambling emotion so that they will take a decision that would affect them tomorrow.

It would have been better if they are the ones that face the consequences to what they have done than leaving those debts for their children or family to be battling with after which they are nowhere to be found, this calls for us as well to be very mindful on the ways of how we gamble, we shouldn't go over in taking some steps that will have a negative future repercussion, we have to be attentive to the way we gamble and be also considerate of those around us if the way we are gambling will not one day put them in trouble. 

[piebeyb]

It's better if we learn from this instead of just discussing about it, don't grow some stupid debts on yourself, if anything happen to you, your kids will be the ones to pay up, and that's not good, really.

At least as parents, if throughout our lives we cannot make our children or partners happy, let alone family, at least don't make it difficult for them when they die, let alone leaving behind debts and our children have to bear it, that should also be a warning to ourselves that never make it difficult for anyone when gambling. Gambling must be done with money that is ready to be lost, not gambling with borrowed money, that is clearly not a good way to do it, even though there are many cases like that, it is clear that this problem must be used as a lesson and also a lesson so that we don't do it.

I think we all know that there are many cases out there where lots of gambling addicts commit suicide because they are in debt to loan sharks and they have no other way but to end their lives, it is clear that borrowing money to gamble is not a solution, gambling must be a place to have fun, not to look for money, let alone wealth, because that's not the place but people always expect it when gambling, I'm not a hypocrite and I also want to win but we have to be able to control ourselves by changing our mindset by making gambling something It's a fun thing not to take it too seriously and play with good control, this way allows us to avoid gambling addiction, anything related to gambling addiction will always end up bad.

[bettercrypto]

The high rate of gamblers who take loan for gambling purposes is quite alarming, and most of them are fathers to kids. Most of them don't end up taking care of their debt before passing. What happens to the funds, when the lender comes for his money? It's quite a tough one for a person who isn't a gambler to inherit a trouble from a gambling dad. Such things also increase the anger of the society on gamblers, because the addicts are, also, good at extending their problem gambling to other close relatives. Could it be talked through in the law court?

If you borrow a large amount, for sure there is collateral; it cannot be without it because the lender is poor. Now, if the collateral is the house and lot that his own family lives in and they don't know what he did and suddenly something unexpected happens to the gambler who took a loan, for sure there are only two things they can do: either pay his family that lives in the collateral they live in or they leave home.

So it is not good to borrow with collateral that is actually given. It's okay to provide a document like a valid ID or certificate of employment; that's fine, I think.

[BlackBaron]

It would have been better if they are the ones that face the consequences to what they have done than leaving those debts for their children or family to be battling with after which they are nowhere to be found, this calls for us as well to be very mindful on the ways of how we gamble, we shouldn't go over in taking some steps that will have a negative future repercussion, we have to be attentive to the way we gamble and be also considerate of those around us if the way we are gambling will not one day put them in trouble. 

That right, if you no longer get pleasure from gambling, it is a sign that it is time to stop. Don't force yourself to gamble too much, it's not a good idea to take out a loan or get into debt to gamble. It is important to look far ahead, not involve other people in the problems we create by gambling. Close people or family are not assets that can be used as collateral to pay off gambling debts.

[danadc]

The high rate of gamblers who take loan for gambling purposes is quite alarming, and most of them are fathers to kids. Most of them don't end up taking care of their debt before passing. What happens to the funds, when the lender comes for his money? It's quite a tough one for a person who isn't a gambler to inherit a trouble from a gambling dad. Such things also increase the anger of the society on gamblers, because the addicts are, also, good at extending their problem gambling to other close relatives. Could it be talked through in the law court?

If you borrow a large amount, for sure there is collateral; it cannot be without it because the lender is poor. Now, if the collateral is the house and lot that his own family lives in and they don't know what he did and suddenly something unexpected happens to the gambler who took a loan, for sure there are only two things they can do: either pay his family that lives in the collateral they live in or they leave home.

So it is not good to borrow with collateral that is actually given. It's okay to provide a document like a valid ID or certificate of employment; that's fine, I think.

Sometimes it is better not to lend money, especially with such delicate collateral, apart from that if you lend money to play in a casino it is the worst thing you can do, the person is condemned for his financial life, and if that person loses the money because the only thing left is to look for money to try to recover your collateral and pay as soon as possible and that this serves as a lesson so that you learn that you don't play with that, wasting money is not a game, they can take even your money walking, if someone starts lending money to dangerous organizations they are capable of killing them and everything, that is something that you have to be very careful with.

In different parts of the world each loan has its conditions, so when taking a loan you have to think about all the possible scenarios, so that it is not taken as a surprise.

[promise444c5]

It would have been better if they are the ones that face the consequences to what they have done than leaving those debts for their children or family to be battling with after which they are nowhere to be found, this calls for us as well to be very mindful on the ways of how we gamble, we shouldn't go over in taking some steps that will have a negative future repercussion, we have to be attentive to the way we gamble and be also considerate of those around us if the way we are gambling will not one day put them in trouble. 

That right, if you no longer get pleasure from gambling, it is a sign that it is time to stop. Don't force yourself to gamble too much, it's not a good idea to take out a loan or get into debt to gamble. It is important to look far ahead, not involve other people in the problems we create by gambling. Close people or family are not assets that can be used as collateral to pay off gambling debts.

Choosing to stop gambling activities when you can no longer enjoy gambling will certainly be better and this will not put us in financial trouble, because if we continue to force ourselves to gamble it will of course put us in financial trouble and even worse we will take out loans to gambling and if we can't pay it, of course it will make the people closest to us have to pay the loan that we have lent, of course this is very detrimental to them with our gambling habits.

That's it ! Everything  should have a limit  to avoid wreckage and this is a good practice  under gambling, there should be a time to know when to stop unless you're  only playing  for fun and might not consider  any outcome from it .
(Gamble  Responsibly)

[KiaKia]

It depends of the law and the regulations of the country where it's happening but usually debts can be inherited and the children can only reject the whole legacy if they don't want to have to pay them. That could be seen as unfair for many people but I think it's a protection for lenders and a better guarantee for borrowers who have children. Lenders are rarely responsible of the death of their debtors so it would be also unfair for them to lose their money because of that actually.

I don’t think any country`s law permits children must inherit their father`s debt. This used to be the old practice but today, most practices have changed since man is dynamic and so society changes. Before a person is given a loan, there must be collateral which is equivalent to the loan collected. A child can decide to inherit his father`s debt willingly if he is capable of paying and also doesn’t want to lose a family`s property because of the loan.

This is a similar case to what happened to a friend. A friend of mine cleared his father`s debt after his father`s demise. His father owed the bank and used his house as collateral. When the bank came to claim the house he offered to pay his father`s debt to retain the ownership of the house and the bank accepted. So, it is possible to inherit a father`s debt but you are not legally bound to clear the debt.

Things have changed is why the world is in so much mess today.

In my country, it's not about if the law permits or not, it's simply culture, and in religion aspect it's wrong for a deceased to have some debts on their head.

It makes their RIP to be a hard one, rumour has it that if you are in debt and you die you will have a difficult time passing the right spirit world gates after gates, and the only way you can pass is if your child or your family member settles your debts.

That's why parents are telling all their children the names of people they are owing, even when they are not prepared to pay the debts yet.

[arwin100]

It would have been better if they are the ones that face the consequences to what they have done than leaving those debts for their children or family to be battling with after which they are nowhere to be found, this calls for us as well to be very mindful on the ways of how we gamble, we shouldn't go over in taking some steps that will have a negative future repercussion, we have to be attentive to the way we gamble and be also considerate of those around us if the way we are gambling will not one day put them in trouble. 

That right, if you no longer get pleasure from gambling, it is a sign that it is time to stop. Don't force yourself to gamble too much, it's not a good idea to take out a loan or get into debt to gamble. It is important to look far ahead, not involve other people in the problems we create by gambling. Close people or family are not assets that can be used as collateral to pay off gambling debts.

Choosing to stop gambling activities when you can no longer enjoy gambling will certainly be better and this will not put us in financial trouble, because if we continue to force ourselves to gamble it will of course put us in financial trouble and even worse we will take out loans to gambling and if we can't pay it, of course it will make the people closest to us have to pay the loan that we have lent, of course this is very detrimental to them with our gambling habits.

That's it ! Everything  should have a limit  to avoid wreckage and this is a good practice  under gambling, there should be a time to know when to stop unless you're  only playing  for fun and might not consider  any outcome from it .
(Gamble  Responsibly)

Gambling Responsibly will just remain a reminder if people don't totally apply it for their selves that's the reason why we can see a lot of gambler messed up with this since they are out of control and didn't listen to the advices of people concerned to them. That's why it create deep trouble to people surrounds them since those people who owe him money trying to get back the funds which has been compromised.

But they should know that people can't charge or ask to pay the debts of their deceased love ones since no one can force them to do that. Gamblers need to learn a lesson from other experiences so they can reflect to theirselves that what they have done will not have bad effect to his family.

[Obari]

If you want to borrow money, there must be a collateral. If there is not collateral, there must be one or more guarantors. I do not think anyone can be a guarantor of a gambler. It is the father that have the debt and if he dies, his family will pay with the properties or works that the father left on earth. I do not think the son have any problem with his own property. That is why it is good to have your own property and be independent.

Exactly 👍
I was just about writing same thing, not until I came across this your response and bless God else it would have seem more like plagiarism and this is also a clear indication that people can be more of like minds and reading comments before responses also does matters.
Everybody going to get a loan irrespective of the purpose for the loan ought to have a collateral depending on the terms of the lender, which at some point, most lenders do ask for collaterals worth twice or even thrice the value of the loan, so as to avoid cases like this and most of them, also ask for guarantors so in case they can’t claim the property or collateral, the guarantor stands in the gab for the borrower, I don’t think this case should be a burden to anyone who isn’t part of the loan terms.

But let’s just assume things don’t go as planned and there was no collateral or maybe a guarantor as well and the loan was given out of trust, and incase of death, I think the family of the borrower should be held responsible for the loan and if there isn’t a peaceful negotiation, then it can be settle in the court.