Is it possible to inherit a gambling debt?

[taufik123]

-snip-
What's the essence of putting people through some unnecessary stress of working to pay up a huge debt that you accumulated, all by yourself? What ideas are you passing on to your kids on good parenting?

Only a stupid parent would do this to his offspring.
The debt due to gambling will be large because the interest continues to run,
but some loan sharks who give debt will usually provide relief to pay if the debtor is dead.

What kind of inheritance if you have to pay off debts because of gambling,
it is not an inheritance, but a disaster that will befall our children and grandchildren.

So from now on, you must be aware, gambling is entertainment and don't use money that shouldn't be used, don't borrow just because you want to gamble.
Thinking about the lives of our children and grandchildren after we die is necessary to do, don't just think about your own pleasures that are only temporary.

[Orpichukwu]

Well it's possible that the garantoors maybe trusted friends or even family member that had no idea that he wanted to use the money for gambling, its also possible that it wasn't his initial reason to borrow the money and maybe passing by a gambling shop he couldn't control himself or maybe just decided to fund his betting account and that's how he ruined it all.

To the best of my knowledge, guarantors can't agree to sign something they do not understand, no matter what kind of relationship they share with the person they went to sign the guarantor agreement for, because signing that type of agreement means that if the person who's taking the loan doesn't pay back, they should hold you accountable to either pay back the loan or provide the person with the opportunity with the opportunity to come and take appropriate action.

[Mia Chloe]

Only a stupid parent would do this to his offspring.
The debt due to gambling will be large because the interest continues to run,
but some loan sharks who give debt will usually provide relief to pay if the debtor is dead.
What kind of inheritance if you have to pay off debts because of gambling,
it is not an inheritance, but a disaster that will befall our children and grandchildren.
So from now on, you must be aware, gambling is entertainment and don't use money that shouldn't be used, don't borrow just because you want to gamble.
Thinking about the lives of our children and grandchildren after we die is necessary to do, don't just think about your own pleasures that are only temporary.

Like what the heck. Why would a parent do something as stupid as go into debt because of gambling. Most of the time we often use the statement of gambling being a neutral act but the fact is things like this are what makes a great deal of people very gambling as a wrong act. Infact I personally have this idea that every single idea of gambling being a negative act is as a result of the damages gambling addicts have caused over time.
Things like this are the reason why gambling should be done with caution. A gambler in the first place should not even have the urge to consider borrowing or taking a loan just to meet his mere gambling pleasures for the time being. In fact the truth is only a gambling addict would give such idea a thought in the first place.

[taufik123]

-snip-
A gambler in the first place should not even have the urge to consider borrowing or taking a loan just to meet his mere gambling pleasures for the time being. In fact the truth is only a gambling addict would give such idea a thought in the first place.

then the crux of the problem is "ADDICTION" it will make everything look negative,
every addict will spend more money on gambling without thinking about how much they will get.

It has become an acute mental illness that is difficult to cure if not cured immediately. Parents need to be a good example for their children.
I knew gambling could be a hobby. But don't sacrifice the lives of children in the future with debt because of addiction.

I know some people who are quite fond of gambling, but they have control and don't cross the boundaries they set themselves.

[wxa7115]

Only a stupid parent would do this to his offspring.
The debt due to gambling will be large because the interest continues to run,
but some loan sharks who give debt will usually provide relief to pay if the debtor is dead.

What kind of inheritance if you have to pay off debts because of gambling,
it is not an inheritance, but a disaster that will befall our children and grandchildren.

So from now on, you must be aware, gambling is entertainment and don't use money that shouldn't be used, don't borrow just because you want to gamble.
Thinking about the lives of our children and grandchildren after we die is necessary to do, don't just think about your own pleasures that are only temporary.

How this issue could be solved will depend on the laws of the country in question, where I live except for taxes, every single debt that a person may have had is forfeited at the time of their death, and even those that had legally bind themselves to pay it back do not have to do so.

So in a country like that it is impossible to inherit your gambling debts to your friends or your family, however it would not surprise me if this was possible at some other countries.

[retreat]

It could definitely be settled in court, but the defendant needs to pay up the money. That statement depends on where the loan came from; if it were a bank loan, the already paid collateral will be used to clear the loan and, there's certainly no case for his children. If he got it from any other monetary institutions, it'll not just need a refund but they'll calculate penal interest, should he fail to make payment .

What's the essence of putting people through some unnecessary stress of working to pay up a huge debt that you accumulated, all by yourself? What ideas are you passing on to your kids on good parenting?

As far as I understand, if the loan comes from a bank, then the loan will be paid off when the borrower dies and family members no longer need to be burdened with the loan. However, if the loan is from a third party, for example a loan shark or cooperative, which has a loan agreement which states that family members need to pay the loan even when the borrower dies, then the family members or children will inherit the loan. And that is what usually happens in casinos, where they design the loan to be passed on to family members/heirs appointed by the borrower. And people like this who are in debt and pass on their debts to others are the type of people who are selfish and have no feelings.

[Casdinyard]

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?

In the law the kids or any paying relative of the deceased will be required to pay the deceased's debts, based on certain stipulations that is. However, some courts of justices either forgive the loans due to the nature of the situation that the bereaved are put into, or just take out the interest and have the mourning pay the capital amount. It's just how the way works and an even bigger reason why people with families should be on the lookout with their gambling behaviors, cause we have no way of knowing when and how we'll die here on this planet, we can only prepare ourselves and our loved ones for when it does happen, and if you're out here ruining your life knowing you got a wife and kids at home waiting for you then let me just say you're a horrible father and honestly speaking, they'd be better off without you than have you around them and experience life with a subpar partner and parent who's got no regard for the future of his kids cause he'd rather gamble his life savings than prepare for when he has to leave his family.

[EarnOnVictor]

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?

It could definitely be settled in court, but the defendant needs to pay up the money. That statement depends on where the loan came from; if it were a bank loan, the already paid collateral will be used to clear the loan and, there's certainly no case for his children. If he got it from any other monetary institutions, it'll not just need a refund but they'll calculate penal interest, should he fail to make payment .

What's the essence of putting people through some unnecessary stress of working to pay up a huge debt that you accumulated, all by yourself? What ideas are you passing on to your kids on good parenting?

This is a huge irresponsible act. Others are striving to leave something meaningful for their children when they answer the ultimate call, but others are busy living their lives uselessly. This could be to the extent that some children will be faced with the problem of some debt settlements. Regardless, cases like this are different with different possible solutions to them, and in all, the children may or may not pay the debts. Under the law, it is the person who offended that will suffer the brunt, the same thing is applicable to a loan and ist settlement, it is only the person who borrowed the money that is liable to pay it. This is why you are at your own risk if you lend money out without some proper agreements, guarantor(s) and collateral that will back that agreement up. If there are agreements/collaterals in case of eventualities, then the creditor is empowered by law to enforce his debt recovery agreement.

But in case the property, for example, is worth more than the debt, the remaining shall be returned to the deceased family. If it is a guarantor's agreement as well, the guarantor will be made accountable. However, if there are no such things as mentioned above and the deceased dies, even if he has 100 houses, so far they are not linked to the agreement, the benefactors after his death can decide whatever they like on the matter of whether they should pay or not. In some cases, even if the deceased did not leave any properties for the family, the family may decide to clear the debt in his name to honour him (if they have).

No amount of court can change this stance unless there are some legal backings and I know that creditors are getting wiser these days to avoid issues like this, except for the Loan Sharks with huge interest rates due to their desperation.

[uneng]

However, if the loan is from a third party, for example a loan shark or cooperative, which has a loan agreement which states that family members need to pay the loan even when the borrower dies, then the family members or children will inherit the loan. And that is what usually happens in casinos, where they design the loan to be passed on to family members/heirs appointed by the borrower. And people like this who are in debt and pass on their debts to others are the type of people who are selfish and have no feelings.

I have never seen a situation where family members had to use money from their own pockets to pay off debt from a dead family member. It doesn't seem constitutional in any cases, because nobody can force third party people to honor their agreements, in case they can't. At least, not without the agreement of this third person as well on the moment the contract was signed by both parties. That is what we call guarantor. And only in this case the debt will be passed ahead, to the guarantor in this case.

Loan sharks are another story, though, because they can use illegal coercive measures to force family members to pay off debt, otherwise they will suffer the consequences... But that is something completely outlaw, so I don't think we could consider it a inherited gambling debt. In fact, people should call the police in these cases, so they can be protected against the loan sharks' threats.

[Accardo]

However, if the loan is from a third party, for example a loan shark or cooperative, which has a loan agreement which states that family members need to pay the loan even when the borrower dies, then the family members or children will inherit the loan. And that is what usually happens in casinos, where they design the loan to be passed on to family members/heirs appointed by the borrower. And people like this who are in debt and pass on their debts to others are the type of people who are selfish and have no feelings.

I have never seen a situation where family members had to use money from their own pockets to pay off debt from a dead family member. It doesn't seem constitutional in any cases, because nobody can force third party people to honor their agreements, in case they can't. At least, not without the agreement of this third person as well on the moment the contract was signed by both parties. That is what we call guarantor. And only in this case the debt will be passed ahead, to the guarantor in this case.

Loan sharks are another story, though, because they can use illegal coercive measures to force family members to pay off debt, otherwise they will suffer the consequences... But that is something completely outlaw, so I don't think we could consider it a inherited gambling debt. In fact, people should call the police in these cases, so they can be protected against the loan sharks' threats.

Involving the police, does it sound like a way to settle the problem? The cops can decide to side the loan shark. Because his money is at stake and it'll be also injustice on the loan shark's end if his money is not given to him. I understand that people are not meant to pay for loan they don't know about, but they are better means of settling such matters.

Provided the loan shark has given out proof about the deceased person owing him, talking to him to atleast reduce the amount of money for the moarning family is the best idea. Trying to go it the aggressive way will only piss off the loan shark to take silly decisions. The loan sharks also take this steps of asking for the player's family contacts for the same reason. If the person doesn't come back to pay back or leaves this earth, they'll trace him to his family using the information he's provided.

[knowngunman]

To the best of my knowledge, guarantors can't agree to sign something they do not understand, no matter what kind of relationship they share with the person they went to sign the guarantor agreement for, because signing that type of agreement means that if the person who's taking the loan doesn't pay back, they should hold you accountable to either pay back the loan or provide the person with the opportunity with the opportunity to come and take appropriate action.

People actually stand as a guarantor for debtors if the debtor is a trustworthy person and the loan purpose is justifiable and necessary. Although, in this case I don't think any sane and reasonable person will agree to stand as a guarantor for someone who needs the loan for gambling purpose regardless of their relationship. It's very wrong decision to think of borrowing money from close friends or family members to play gambling talk more of taking a loan that will require a guarantor just to satisfy your gambling urge and leave the debt for innocent family members to pay when you are no more.

There is no case here as far as I know about debt and loan. It is a tradition and norms to pay back debt they inherit from any member of the family when the debtor is not more regardless of how the debt was acquired or the purpose it was acquired for. Collateral can be used to settle the debt if the family members can not be able to pay the debt but in the case of no collateral, properties can be sold to settle it. For every gambler out there please play responsibly and stay away from taking loan to gamble. It's unhealthy to us and our loved ones.

[GigaBit]

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?

Many people look at borrowing negatively but I think it is positive. There are many people who are successful with loans and there are many people who fail. It will mainly depend on the borrower. Because a person who takes a loan and gambles without thinking about repaying the loan, he must face danger. Borrowing leads to a more precarious situation for those who do not have the source of income or money to repay the loan. The father of the family who has to struggle to run the family with his income will surely run towards debt if he takes a loan. Since gambling has not yet been legalized in many countries, one person's debt cannot be imposed on another. But when anything goes too far, it is no longer normal. Of course the number of such gamblers should be reduced otherwise the society may be affected.

[taufik123]

How this issue could be solved will depend on the laws of the country in question, where I live except for taxes, every single debt that a person may have had is forfeited at the time of their death, and even those that had legally bind themselves to pay it back do not have to do so.
-snip-

It depends on who is lending, if it comes from a government agency or body that is official and known to the government,
maybe the regulation will apply, but not all debts will be forfeited.

Maybe only a few percent because the Bank or such a savings and loan cooperative place does not want to get losses because one of its customers died.

[Coin_trader]

Many people look at borrowing negatively but I think it is positive. There are many people who are successful with loans and there are many people who fail. It will mainly depend on the borrower. Because a person who takes a loan and gambles without thinking about repaying the loan, he must face danger. Borrowing leads to a more precarious situation for those who do not have the source of income or money to repay the loan. The father of the family who has to struggle to run the family with his income will surely run towards debt if he takes a loan. Since gambling has not yet been legalized in many countries, one person's debt cannot be imposed on another. But when anything goes too far, it is no longer normal. Of course the number of such gamblers should be reduced otherwise the society may be affected.

Although I’m not against with borrowing since I’m doing it myself but I don’t consider it as positive since you are paying premium(interest) once you borrow which you didn’t have to just to gamble if you will just wait.

I said that I’m not against since borrowing helps a gambler like me to play in advance while waiting for the payday but it incorporates some additional expenses which is painful if you loss the borrowed funds so in general it’s both good and bad depending on the user but it’s not positive tool since of high interest rate for a shourt period of time which is unavoidable if the person is willing to wait.

[pawanjain]

I have often heard about such incidents where the gambler or let's say the person in debt passes away and then their family had to repay the debt.
So yes, in many the debt is inherited by his family and in some cases I guess the debt becomes invalid since the person himself passes away.
But according to me people should not let the debt be passed on to their family at first place.
If someone is taking a debt they should make sure to clear it out ASAP and if not then they should have a back up plan in place in case of such mishaps so that their loved ones don't suffer.

[uneng]

Involving the police, does it sound like a way to settle the problem? The cops can decide to side the loan shark. Because his money is at stake and it'll be also injustice on the loan shark's end if his money is not given to him. I understand that people are not meant to pay for loan they don't know about, but they are better means of settling such matters.

Provided the loan shark has given out proof about the deceased person owing him, talking to him to atleast reduce the amount of money for the moarning family is the best idea. Trying to go it the aggressive way will only piss off the loan shark to take silly decisions. The loan sharks also take this steps of asking for the player's family contacts for the same reason. If the person doesn't come back to pay back or leaves this earth, they'll trace him to his family using the information he's provided.

Unless the police is corrupt, involving them is the most reasonable alternative if the loan shark is threating to do something against the family in case they don't pay off the debt of a dead family member. Personally, I wouldn't negotiate with thieves and murderers, so I definitely wouldn't wish to directly talk to him on that hypothetical situation. The debt isn't mine, I did nothing wrong, while I'm being physically threated. Since we live in a civilized society, there must be civilized means to solve the situation, what involves demanding action from authorities.

[Hispo]

🍑

As far as I know, in the modern western countries is not possible for a person to inherit debt at all, that including gambling debt. Once the person passes away, the state takes care to reach a settlement with the lender of the money. Though, there are relatively few documented cases of that happening.
The only way I could see someone inheriting debt from a family member would be if the money was borrowed from a criminal organization or a criminal syndicate, they obviously do not care about legislation and the laws of the country, so they threaten the family of the deceased gambler and pressure them into paying all back in a fixed period of time. Having inherited gambling debt while living in a third world country dominated by corruption, must be a very nasty experience, since one is paying for the  pleasures and entertainment someone already had and never took responsibility for that money. 
I pity anyone in such situation   

[Pandu Geddon]

I have often heard about such incidents where the gambler or let's say the person in debt passes away and then their family had to repay the debt.
So yes, in many the debt is inherited by his family and in some cases I guess the debt becomes invalid since the person himself passes away.
But according to me people should not let the debt be passed on to their family at first place.
If someone is taking a debt they should make sure to clear it out ASAP and if not then they should have a back up plan in place in case of such mishaps so that their loved ones don't suffer.

However, the heirs will be obliged to pay off the debts left behind. whether the money is used for gambling or other purposes. heirs or family members cannot just claim or enjoy pleasure when they have money alone. but when a person dies but still leaves debts, then there is an obligation for family members or heirs to pay those debts.

but we don't know what the agreement is between the lender and the person who borrows. but in my opinion, the debt still has to be paid. even with requests for relief or other forms of negotiation.
Of course we have to see the proof and legality of the loan made. it could also be an opportunity for blackmail that could occur to the heirs. We also have to see whether the loan uses collateral or not. because it is related to the assets owned, of course it must be resolved properly.

[Dr.Bitcoin_Strange]

Well, yes I think debt can be inherited from parents or relatives, depending on the person that is very close to the debtor or the person that stood as a guarantor for the gambler. Before someone takes loan, they usually use someone as their guarantor which is liable to pay the loan if the real borrower is unable to repay or perhaps the person dies. If the children of the borrower are wealthy enough, they will be entitled to clear their dad's debt to avoid drama from the lender. This kind of issues have caused several issues in my place.

[STT]

I think the estate of a person deceased does have to clear loans and debts owing, so that'd wipe out some or all of the asset worth passing onto family.   Its possible the debts can exceed the capital left in a will or estate which means nothing at all passes on, the children arent liable for the debt they didnt take up.

  Children still lose some or all of the capital that they might have otherwise inherited.   A good Will prepared legally will be able to protect asset worth in a trust and that might survive debts, this requires proper legal work beforehand though.