Is it possible to inherit a gambling debt?

[hedgeh0g]

Logically speaking from a lender's standpoint, the gamblers next of kin should bear the debt.

As they say, "The father's sin passes to their son".

Indeed the lender needs to recover their money and for that often it happens that the actual debtor ends up in bad situation and ends their life - eventually the lender would come back to the gamblers family seeking for their money.

I saw some users comment about exploitation here - it is true, but lenders should avoid such things for their own sanity and be professional.

Probably different countries have completely different laws, but as for my country, the debts of a deceased person are passed on to the heirs. This means that if the father lost and has debts, then they will pass on to his children and wife. On the one hand, this is fair, because debts cannot be written off just like that; there is even an expression - debts must always be paid. But I also sometimes think that the children and wife might not know about the debts of their husband or father. Of course, I know of cases where, when taking out a debt, banks or other financial organizations are required to notify the wife of the person who is borrowing a large amount of money. I think this is correct, because if the wife does not agree for her husband to borrow such a huge amount, then she can simply divorce him, because she is not ready for this.

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[Wapfika]

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 still depends on the contract agreement for the loan because most of the gambling loan usually done on trust basis like the forum lending section. Some loan shark just for collateral and doesn’t have a contract. Inheriting a gambling debt is not possible if the person borrow the money already died while there’s no contract between them and the lender that stated the scenario of the borrower passing away.

If I will be the one who inherit the debt then I will definitely not gonna pay for it because I’m not the one who borrowed it even if he is my parents or family. I will fight them with the court because I will not gonna settle with unknown debt.

[Frankolala]

This is the problem of addiction, if not why will a gambler pile up debt without paying it, and allow his children to inherit it. Gambling should not be done with loans, so that it will not be a problem to pay back, because it is always hard for someone that is addicted to pay back his debt.

The family of an addicted gambler always get affected by the his lifestyle in one way or the other, and this is why we need to have self control over our gambling activities, and also gamble responsible, so that the properties that we left for our children, will not be used to replace our debts. It is normal in my country, that the family of the deceased will pay off the debts of their father.

[Yatsan]

If it is loan then yes, but if it is a debt without any papers or contract involved then it's a no and things will be settled through agreement. But this will fall under the term of debt and there's no need to specify gambling as an activity because in any form, debt is debt. There are also instances wherein loans are done through unregistered online loaning applications and in any aspect they cannot force the person in debt to pay them but they often send threats ( evident in my area but I'm not sure if same scheme exists with the others, also a different story or discussion).

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?

There's no such thing as inheriting debt in the country where I live, when the loan taker dies, the debt or loan will automatically be paid off. This is also part of the law in our country, so lenders cannot sue loan takers. This law is very useful, especially for someone who leaves behind debts to their family.

This is evident only with properties bought through financing in my country, again it will always depend on the contract. Familiar with this law which for me is a bit unfair on their end. They could also sue "estafa" on the loan takers end  but amounts will not stil be paid in an instant. However, there are a few instances that a gambler dies upon taking a loan which is also another angle of this topic. In most instances, they suffer from the consequences lf their actions which is taking a loan and not being able to pay it before the due. Interest wil just become bigger as the time passes by, making it a bigger burden as well. This is why such action wil never be advisable.

[piebeyb]

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 depends on how much debt, if the debt is big, say when someone borrows money from a loan shark, of course he will be in big debt because the interest will increase if he is late in making payments. I once saw someone around my house where a gambler's father committed suicide just because he was in debt. and the debt was passed on to his children who had to pay their father's debt, but because the children were not yet mature enough and had decent jobs, they were given relief by the loan sharks.

I think we often find this incident everywhere, that's why it's always recommended not to gamble using money from debt because it will ensnare them in the end, gambling is not a place to look for luck, let alone a place to make money, so gambling must use the money you have. ready to be lost, the point is don't gamble to make money because it won't produce anything, especially if you lose, of course anything can be done to be able to continue gambling even if you have to go into debt, that's not really recommended.

[Eternad]

This is the problem of addiction, if not why will a gambler pile up debt without paying it, and allow his children to inherit it. Gambling should not be done with loans, so that it will not be a problem to pay back, because it is always hard for someone that is addicted to pay back his debt.

The family of an addicted gambler always get affected by the his lifestyle in one way or the other, and this is why we need to have self control over our gambling activities, and also gamble responsible, so that the properties that we left for our children, will not be used to replace our debts. It is normal in my country, that the family of the deceased will pay off the debts of their father.

Any form of debt is the same when the borrower already passed away. Gambling debt, business debt, personal debt and other debt will all inherit by the immediate finally once the borrower died so I don’t see any difference of gambling debt to other type of debt.

Gambling debt is just different if the person who keeps borrowing is still alive since this kind of debt is just a waste of money especially if the borrowed money is loss. A family of a businessman that bankrupt and has a pile of debt will have the same experience to a family of gambler that has debt because they are just both ended up by debt that they will pay by themselves.

Don’t ask for loan in general if you don’t have any collateral.

[bitbollo]

a debt is always a debt and of course it depends on who you owe the debt.
General rule you practically always have to pay it.
Worse still if you leave something as collateral... that's where the person who made the loan makes the biggest mistake because the collateral is always greater than the asset you receive on loan.
I find it absurd to go into debt for gamble activity, it's one of the easiest ways to have serious financial problems!

[Coin_trader]

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?

The borrower is already died which means the lender only option is to wait for the family pay the inherit doubt. Talking this in court will cost huge sum of money especially hiring a lawyer just to push the family pay the debt immediately while court trial usually took a lot time to have a decision. Also judge will probably agree to the family if they ask for extension time which means taking this to court is useless as lender.

Some lender show violence just to get the money and this should be considered by the father or anyone before taking the loan which they can’t afford to pay or his family when they passed away.

I sometimes take a loan for gambling but only minimal amount which I can immediately using money from my bank account. I never ask for a loan that I can’t pay before the deadline that I set.

[Doan9269]

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?

There's nothing impossible with this our present generation, if some can go to the extent of consulting the loan shark for money to bet in gambling, then they suddenly left without repayment being made, definitely they will have to come after the children, wife or even the family member, we should be careful not to put those around us into trouble because of our selfish interests. 

[pawanjain]

I have heard stories about gambling debt being inherited and being paid by their family members in real life.
It becomes really frustrating when we have to pay the debt of our elders without us even knowing about it.
Further more, the concern increases when there was no collateral or evidence for that debt.

[Solosanz]

I have heard stories about gambling debt being inherited and being paid by their family members in real life.
It becomes really frustrating when we have to pay the debt of our elders without us even knowing about it.
Further more, the concern increases when there was no collateral or evidence for that debt.

That's why we need to stay away against gambling addicts when we ever spot them gamble or they tell that to us, even they're our family but it's better to be safe than sorry. There's no way to verify a gambling addict is completely recovered and won't gamble anymore because there's no parents can track everything with what the children doings every day.

Working in order pay off debts is really frustrating.

[yahoo62278]

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're borrowing from the mafia or a loanshark then it's possible they will transfer the debt to you or break some limbs, not sure you can take it to court though and be forced to pay a gambling debt.

I guess it would all depend on the contract you signed, would be incredibly irresponsible of you to sign a document stating your family will pay your debt in the event you die somehow.

[slapper]

The estate of a deceased person pays off debts. The catch: if assets don't cover it, debt dies with them. However, if you cosigned a loan or live in a community property state, you may be in trouble

Society should distinguish between inheriting debt and being legally required to pay it. Children and other relatives aren't compelled to pay the deceased's debts. No hot potato here. Laws avoid financial disasters like this. If the estate gets involved, things change. Assets can be liquidated to pay debts, leaving beneficiaries with little

You mention court? Right on. Debt and inheritance disputes go to court. These complicated issues are untangled there. Each case is unique, therefore don't simplify. The true issue? Misunderstanding how debts are handled after deat

[mindrust]

Depends. If the debt was owed to a friend or a family member, I don’t think that you can inherit that debt legally because it doesn’t exist on any records. If the debt was owed to a casino for example, then the company will indeed do whatever necessary to collect that money because they have the records of the debt in this case… but then casinos don’t loan money to their players as far as I know. The players can’t play unless they deposit first. That means the casino won’t find itself in a situation like what you described.

[blckhawk]

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.

Legally the bolded part is the default thing that's going to happen, the borrower dies without fully paying the debt, the family would inherit it like a property. Definitely not anyone can be a guarantor, remember that some people need to have some form of credibility to be able to give out an assurance that the borrower would pay, I'm personally not a fan of guarantor because most of the time, the people knows the borrower and their verdict or recommendation to get a loan could have some bias mixed in which isn't good. It also depends on what estate was left behind by the borrower, if there's only one land and it's entitled to the son, that land could possibly be used as a form of payment to that debt via liquidation of that land.

This is why you don't get into gambling or should start gambling when you're already a family man, you'll almost always drag down your family with you because of that habit and debt is a really bad legacy to leave behind for your loved ones, it's going to make you a one sad grave that nobody visits because you've left them something that was your responsibility in the first place.

[alastantiger]

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?

Who is the lender? A bank? Then collateral will be used to resolve the loan or debt.  Should the lender be a friend and the loan was based on verbal agreement, then it is going to be a tough one for the family.

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 are in debt as a result of your gambling, tell someone. Anyone in this situation that has proof of the loan to a gambler and can prove his case in the law court, will have his debt repaid through any means deemed fit by the court.

[Hispo]

It depends on the country, actually.
I have done some research about it in the past and out of curiosity. In the case of the United States, debt cannot be inherited by children, unless they also signed the contract or were co-signataries of the debt. Otherwise, the person who is in debt passes away, then the debt gets taken care of by the state or the State administration, obviously, the assets of the person in debt will be auctioned away in order for the lenders to get some of their money back.
Either way, regardless of the laws on debt of one's country, one is never supposed to ask for money to gamble, it should be obvious at this point to anyone with a little bit of common sense, specially since we all have seen examples of people in this forum who took loans to gamble and all ended up badly to them.
If I had to give a personal opinion on the inheritance of debt, I would say it is not supposed to be inherited, sometimes, children do now have anything to do or any responsability on the actions taken by parents.

[aioc]

Yes, it's possible here in our country, I know of people who inherited their parents' debt and the successors have to sell all the deceased properties to pay for their debts leaving nothing to all his successors, this is bad for the family, a gambler can play all he wants as long as he is not taking a loan to gamble because in case there something happen to him and he is big debt in gambling, the family is left paying for his debt and this is added burden to the family.
In this life, we don't know what's going to happen tomorrow so never gamble coming from loans.
It is a case-to-case basis in every country but here in our country, it's legal for the loan giver to impose the debt for the family of the deceased.

[electronicash]

Yes, it's possible here in our country, I know of people who inherited their parents' debt and the successors have to sell all the deceased properties to pay for their debts leaving nothing to all his successors, this is bad for the family, a gambler can play all he wants as long as he is not taking a loan to gamble because in case there something happen to him and he is big debt in gambling, the family is left paying for his debt and this is added burden to the family.
In this life, we don't know what's going to happen tomorrow so never gamble coming from loans.
It is a case-to-case basis in every country but here in our country, it's legal for the loan giver to impose the debt for the family of the deceased.

even in the death of the addict, he still brings shame to the family. this is a disappointment to the daughters and sons, they have to pay father's mistake. i'm sure this is also happening in my country and the creditors usually will take the valuable stuff of his father.

it's another awful job for the creditors to do something like this. if i were them i would likely avoid giving loans to fathers who gamble or just don't give loans to someone who can't provide collateral.

[EL MOHA]

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?

One thing is a debt is a debt no matter how it was taking, most of this gamblers do not by any means state their reason of taking loans most of them actually cook up expensive lies and they do take this loans and use it to gamble. This type of Loan will definitely be paid back no matter what the Children made out it either by his family or from his properties.

The other gambling loan which is mostly taken at the casinos or place of gambling either the lender is the casino house or a fellow gambler, this particular case has different legal views, if the debtor didn’t provide a collateral there it will be hard for the lender to get his money back because outside the house it will be difficult to prove your point and most people will actually be against the lender as to why he lend a gambling person money in that case and In an environment that frowns mostly on gambling the lender might even be in trouble for enhancing gambling