Is it possible to inherit a gambling debt?

[Z390]

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.

Are you talking on behalf of other families or just yours? Because every families are different, and that includes culture too, a family member died and his son cleared all his late fathers debt, none of the families care about doing this, so if OP is curious about a son inheriting the debt if his late father it's highly possible.

There are situations where families don't care about someone, they only reveal themselves after the person passed, and that's it, no help from their side to even lay the late father to rest, some families are this useless and I've seen a lot.

OP, lets not just create problems for those around us, make sure you pack all your shits yourself before you are gone, let your pain be on you only, let it end with you, not your son, not your families, and they will pray for you, if you leave too much debt, some of them will lay curse on you.

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[asyakashi]

it is possible that it could be brought to court and as far as I know, debts cannot be inherited, I think the bank will consider it paid off if the borrower dies first, I mentioned this what I saw from my environment

[Google+]

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?

That's why we here have to be able to limit our addiction to gambling because apart from making us lose a lot of money, of course the problems we get due to gambling are not only for ourselves but can actually have an impact on our families, What you are asking is a quite important problem because I am quite sure that 99% of gamblers definitely have debts either to friends or loan sharks, maybe debts from friends will not cause big problems when the gambler dies because after all friends will have compassion for their family, but if the debt comes from loan sharks then You can be sure that the gambler family will get into big trouble if they don't pay, because after all the loan sharks won't care whether the gambler is still alive or dead because the important thing for them is that the debt must be paid off even by the family.

Whoever he is, whether he is a gambler or not, of course the family has a financial obligation to pay the debts left behind by that person, but indeed in my country there are often debates because basically gambling debts do not have strong legal force to be submitted to court if the gambler family doesn't want to.pay, apart from that we have a law which states: "does not give the right to sue legally in the event of a debt incurred due to gambling or betting", so that it can protect the gambler family.

[ShowOff]

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?

I don't know exactly what the terms and conditions are between the borrower and the lender when they both agree to make a loan. In my country, if the borrower dies then the bank will not collect the debt from the heirs and all loans are considered paid. I have heard of many such cases, so the responsibility for paying it off lies solely with who took the loan.

I don't know what the provisions in other countries are regarding such situations, but here at "bitcointalk" there are lenders who have to accept the fact that the loan will only fail because the borrower is certain to die. Inevitably the loan will be considered paid off although I'm sure a neutral tag would explain the situation.

[rozak]

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 the debt problem is written down and you have strong evidence to claim the family's inheritance rights regarding the debt left behind, resolving it through legal channels can be done.
but if there is nothing that binds and strengthens your statement as a debt provider, it is impossible to continue the process.
In fact, when the borrower dies, all unresolved needs and interests are transferred and become obligations to the heirs left behind.

[Zlantann]

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 will be very painful to pay such debt because was not beneficial to the family. If it is a verified debt, I will have to arrange with my siblings and see how we can pay the debt because we would have enjoyed his estate together if he had one. But I doubt if a gambler will have an estate because he would have gambled them all before going to borrow.

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.

There is some tradition that mandates that people ensure they pay their debt before they die. The children or heirs are obliged to pay the debt in case someone dies without paying. This would be simple if the person was rich and left behind an estate. In law, nobody will receive anything from the estate until all deaths are paid especially if there is a signed agreement. But most people die poor and put their heirs in debt. If an indebted gambler dies without leaving behind any money or property, what will his heirs do?

[Accardo]

it is possible that it could be brought to court and as far as I know, debts cannot be inherited, I think the bank will consider it paid off if the borrower dies first, I mentioned this what I saw from my environment

I'm looking into this response, and it's not strange that the debt clears off once the person passes, but the owner of the money, may not be satisfied with the ill treatment. However, losing a person is painful to the family and adding to the grieve, with a debt can put the family in a more severe pain, especially when the money available is not enough to handle the debt. The only good thing is avoiding this, and keeping our reputations clean for the family. Your environment is quite conducive for allowing such a rule. At least, the family knows nothing about the activity, and the funds wasn't used to help the growth of the family, instead the player used it on gambling.

If the heir has to pay off the loan, it should be based on the financial capacity of the person, and how prepared he is regarding the money. That is, he's aware of the loan before the passing on of his gambling dad. Bringing up the issue immediately after the passing on of the debtor is quite very wrong. I think the lender should be visiting the home of the man while he was alive to inform them about the dispute between him and their father.  

[m2017]

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?

This probably depends on the country, local laws and loan agreement.

In my country I know of the following cases. If the borrower has paid for insurance, then the debt doesn't apply to relatives and children. Without insurance, accordingly, debt obligations for an unpaid loan are assigned to the immediate family.

These are not the most pleasant financial and legal moments. From the point of view of moral standards, the actions of an adult (debts) should not extend to other people. Just like you can’t punish someone else for committing crimes. The culprit must personally bear the responsibility and burden of repaying the debts. And no one else.

[mvdheuvel1983]

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.

Just like you said, I've also experienced similar story of a debt that was inherited and paid by family members after the person's demise. But I think that's one of the most frustrating things a bereaved family should go through and would suggest that the international law authorities do something to change such policies. For someone to be indebted in gambling, it simply means that the person was irresponsible in it and telling his family members to pay for his irresponsibility when he's no more doesn't sit well with me. Inheritance of gambling debt is absolutely possible possible must be stopped if you ask me

[Rockstarguy]

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?

I have not seing where someone's debt is inherited to family members. I think debts are personal and it has nothing to do with other people or family members. I think from where I come from,  the lender has no right to demand debt from family members of debtors. If the debtor is unable to pay back the money it is either hr/she will be charged  to court , doing this the debtor family can decide on their own to clear the debt or not, or the debtor can look for other means of paying the debt.

I think if the handles this as a serious case this is when it can affect members of the family to think of how to solve the problems , but if the lender does not do anything about the money or take it serious if time is not taking the lender may not get back the money because i don't think addicted gamblers will be willing to pay debts.

[MAAManda]

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).

Well, I think I've gotten the point from what you said. I once heard a story about someone who took out a loan from an online application and then he died (he died not because of the burden of his debt). Some time after he died, his family received a threatening message from the DC (Debt Collector) who said the family had to pay their debts even though the debt taker had died. They received threats after threats continuously to the point that rumors about the family were spread online which made the family really threatened. I only know the story briefly, I don't know what has happened to the family now. But this is a really serious issue about inheriting debt.

[rachael9385]

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?

IMO children that pays the dept of their families members who toke dept from people are the children of those who's family members that collected the dept died at early age and it's bad to keep problems behind for your families to inherit instead of living something important for them. The worst part is when the deptor has sold all his or her properties before they passed away. It's bad and if I am the family of such person I will not pay because he didn't collet the dept to invest and lose rather he collected the dept to gamble. Why I would pay if he invest and lose is because if the investment turn for good everyone will benefit from it.

[borovichok]

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.

I agree with you. Having collateral and a guarantor is a must-meet requirement before getting any loan and this simply prevents the crisis which is likely to arise by a father failing to pay off debt before his demise. Lenders are aware of the risk involved in lending money and that is why a collateral and a guarantor are imperative to mitigate the risk associated with lending money. In case the borrower defaults on the loan, the lender can seize the collateral to recover the amount owed. For instance, I remember using my TV as collateral to get a loan and when I couldn`t pay back the loan within a stipulated time, the TV was sold by the lender to recover his money. This is a very common practice and it has saved lenders the stress of looking for a debtor or what pays when the borrower is gone.

If a borrower has a creditworthy guarantor, the guarantor will pay the loan if the borrower defaults because being a guarantor automatically makes you part of the loan agreement. This reduces the lender’s financial risk and increases the likelihood of recovering the borrowed funds. I story surfaced online where a son without the notice of his father took a loan and made his father a guarantor when he defaulted his father was asked to pay the loan. Even if the money was used for gambling, it is nobody`s concern hence, it will be recovered by this measures. A loan is a loan regardless of what it was used for.

[Fivestar4everMVP]

Here in my country, when a man is owing and he passes on, the family of the man will have to pay the dept, there is no two ways about it, and there is absolutely nothing to talk over in a law court, this actually have nothing to do with the law.
I remember when my father passed in 2020, when we were about to bury him, the church stopped us, said he was owing them, and that we the children must pay his dept before they can allow us bury his remains, the whole bill was calculated and we had no choice but to pay it all before they allowed us bury his corpse.

Now, this same scenario can be applied to gambling as well, if a gambler is oweing for what ever reason, maybe he borrowed the money and used it for gambling, or he already used all his money for gambling and had to borrow to sort out important things he should have used his money for, and unfortunately, he passes on before he could repay the borrowed money, morally and legally, it's the families responsibility to pay that money, as long as the lender wants the money back.

[chaser15]

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?

You should refer to each country's legal process regarding loans.

There should always be an agreement between the lender and the borrower, that was legally and officially signed, and that includes what should be the necessary actions in situations like death, accident, inability to pay the loan, collateral, and anything.

Could it be talked through in the law court?

If the lender, either a person or a company, is not running their operation legally and just running the business to take advantage of high interest they are asking for their borrowers they can't take legal action in the law court. In the event of the lender passing away, they can't pass the responsibility of the original lender to their families.

[killerfrost]

Borrowing cash to gamble is like playing a dangerous game of Jenga with your family's future. One wrong move, and everything comes crashing down. Even if there's a legal agreement, leaving your loved ones with a mountain of debt after you're gone is a major bummer, homie.

Gambling can be tricky, especially for folks who struggle with addiction. It's easy to lose track of reality and make choices that hurt the ones you care about. Imagine if your family had to struggle because you took a bad bet? Not cool, right? Leaving them with debt is like dropping a giant anchor on their boat, making it super tough to sail smoothly through life.

Addiction is a real thing, and gambling can be a powerful trigger. If you're feeling like you can't control your gambling, it's crucial to reach out for help, not just for yourself, but for your family too.

[Cryptomultiplier]

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).

Well, I think I've gotten the point from what you said. I once heard a story about someone who took out a loan from an online application and then he died (he died not because of the burden of his debt). Some time after he died, his family received a threatening message from the DC (Debt Collector) who said the family had to pay their debts even though the debt taker had died. They received threats after threats continuously to the point that rumors about the family were spread online which made the family really threatened. I only know the story briefly, I don't know what has happened to the family now. But this is a really serious issue about inheriting debt.

Alot of things are very possible these days because when money is involved, people will go any length to recover it or get it. That's just how the world is today.
I don't know how possible it is to inherit a gambling debt, but I know that there must first be a disparity in the kind of scenario that plays out, be it online or offline  gambling.

Offline gambling where the gambler has to go to a physical centre to gamble and has built a reputation to the point that they can gamble with loans afforded them by the gambling houses is quite different from online option, where the player takes out a loan to gamble.

As long as it's a loan, the people who gave out such loan will seek different approach to recover their funds even after the demise of the debtor, so long as the debtor did well to drop accurate details of his/her kin or that of a  guarantor or guardian.

[Slow death]

The law of my country is clear on this issue: any debt contracted by person Z can only be charged to person Z, if person Z dies, so the debt ends immediately. The law of my country punishes and arrests anyone who goes about collecting a debt from other family members who do not pay off the debt and the family member who contracted the debt is dead, in which case the family members can file a complaint in the courts and that A person who keeps collecting debt will be arrested, this is because in my country the law only allows banks to be the only ones that grant loans, and it is a crime for a person without a license, without a bank, to give loans and charge interest, the central bank takes strict measures on these cases

As only banks are allowed to give loans in my country, banks comply with the laws that when the person who made the loan dies, the debt also ends. That's why the banks in my country have a maximum age limit that they won't give loans to, for example the banks in my country don't give loans to people over 65 years of age, because it's a big risk that the bank will be assuming, life expectancy in my country is not very high, and even if it were high, the banks know that at that age it is a risk, that is why banks in my country prefer to grant loans to people aged 25 up to 55 years of age. age and have a job in the government. I read in this thread that there are countries where when the person who owed the debt dies then other relatives must pay the debt, this is a huge senseless absurdity

[Oshosondy]

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.

Are you talking on behalf of other families or just yours? Because every families are different, and that includes culture too, a family member died and his son cleared all his late fathers debt, none of the families care about doing this, so if OP is curious about a son inheriting the debt if his late father it's highly possible.

This is not about my family and this should be regardless of culture but we are talking about government law. If someone's father do not have any property or way to pay back the loan, there is nothing the loan company can do. That is why the companies that loan make sure that the person that want to borrow money has collateral or guarantor. If a son can be the guarantor is the only reason the son will pay, aside that he has nothing to pay.

[Fatunad]

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.

On the time that you are still that dependent with your parents or simply you havent been able to make yourself made out some savings or having your own family then you wouldnt
really be thinking up on having those kind of separation kind of approach on things in life on which you would really be thinking about having your own property or possession on which
it would really be that separating you with those things that your father have owned. If it turns out that your father had died and made out your house or lots or other possession as collateral
then there's nothing you can do if those companies or lending platforms or similar things will really be getting those collaterals as form of assurance on which it would really be just that a
common approach to have. This is why if you are someone whose a father,husband,provider of a family then we should really be that wise on what we are dealing off with.