Is it possible to inherit a gambling debt?

[Iroh]

Yes, it’s quite crazy the growing number of people who take out loans for the primary purpose of gambling with it. And a good portion of these folks end up having massive gambling debts and sometimes, end up kicking the bucket without paying off his debts.
Loans are majorly taken out and backed with a valid collateral that’s equal to or higher than the value of the loan. And just cause it’s termed a gambling debt, doesn’t mean it’s not a debt that should be settled.

If the individual has nothing of value that could be sod to recover monies owed at the time of passing away, then the debt would be written off as a bad debt. It happens.

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[livingfree]

In most laws, the debt of the father is only his debt and not of his kids. Unless the lender and the father had signed an agreement that if the father passes away, the debt will be continued and becomes the burden of his children.

But for me, what kind of father is that if you're going to inherit your debt to your kids? That's a crazy father to think of. Instead of inheriting will, good things and material posessions, you'll be leaving your kids in this world with a problem that you have taken.

So, that's it. If it's signed and made a contract that if the father can't continue pay the debt and after his death that must be passed onto the kids. Otherwise, the dead person is clear already with his debt.

[agustina2]

Could it be talked through in the law court?

Yes if the said contract between both parties is legal and the agreement is witnessed by both parties' respective attorneys. If not, they are just wasting their time. As per the case in our country, no one is punishable by law by having a debt and can't also ask the person's family or relatives to pay the loan on the borrower's behalf in case of the latter's passing away.

I'm not sure if the legal court honors the contract of the parties that are both individuals and was only signed by a written signature with no legal person to witness the loan agreement. In that case, the lender can't force the borrower's family to pay the loan in case of death.

[Nwada001]

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?

The agreement that was reached at the time the gambling loan was taken is what's going to determine if the children or the family will be liable for paying back those loans to the person their parents owed them to. 
 
If the loan was just taken verbally and there was no written agreement showing that if they are unable to pay back those loans, the person should either take a particular thing or the children will pay back the money, then I think they can be able to deny such unless there is substantial proof of that or the children know what their father is capable of and want to clear the loan no matter what; if not, there is a chance that they might not pay the loan if they don't want to.

[boyptc]

The lender should always ask for collateral to anticipate things like this because he's in no control in real world situations.

If I am kid with that type of father, I will not take care of it. I have my own life, my own decision to make so as my father.

Even if they have an NDA contract, am I present by that time of signing? No. I will fight for my right that in no way I am associated with my father's decision and debts.

[Ever-young]

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?

True, this can be a heartbreaking burden for their loved ones, with long-term implications. And the truth is that the majority of gambling debts are considered uncollectable, which means that lenders are usually out of luck when it comes to recovering their money. However, this does not make the situation any easier for the families who remain behind.

[Fatunad]

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?

The agreement that was reached at the time the gambling loan was taken is what's going to determine if the children or the family will be liable for paying back those loans to the person their parents owed them to.
 
If the loan was just taken verbally and there was no written agreement showing that if they are unable to pay back those loans, the person should either take a particular thing or the children will pay back the money, then I think they can be able to deny such unless there is substantial proof of that or the children know what their father is capable of and want to clear the loan no matter what; if not, there is a chance that they might not pay the loan if they don't want to.

When it comes on taking some loan then there would really be some contract or terms that needs to be signed on which if ever there are those terms been mentioned about that whenever the borrower
would pass out or would die then his/her family would really be obliged on paying up the loan on which there's nothing you can do but to pay up on what your father or someone had been left into you
which is really that sad specially if you are just living on a family on having that standard ways of living or when it comes to finances. This is why it would really be always best
that we should really be that held responsible on whatever the things that we are dealing on which we do know that we arent that holding our lives. ANything could happen in an instant
and dont make yourself as a burden on the time that you would die. So its better and sensible that you should be thinking up this way rather than on being that irresponsible
with the actions which would be causing up so much trouble even if you do pass away.

[Chibit01]

Noo!! I don't actually believe that anyone can inherit someone's debt in gambling, it is only in loans that I think someone maybe asked to get a garrantor or to bring a collateral before a loan will be disbursed to the peeson.......

But not in gambling there is even an general saying that goes this way between to your own risk/ what you can bear so if what you are staking is not bearable to you so you better do not so I see no reason of some else inheritting one's debt in gambling I don't think possible because no body takes such risk for anyone eveb your best for or even wife and husband can't take such risk for their partners even if you want give a loans it shouldn't be your concern for what the person is going to use the money for and there should be a collateral or a guarantor before the loan will be released because believe me you maybe not be able to control the future situation ....

thanks I believe I have been able to contribute a meaningful answers to this question....

[Oilacris]

This might not be pertaining about gambling directly but the idea is really just that the same.

What Debts Can Be Inherited?

Mortgages or home equity loans. If you inherit a house that has an outstanding mortgage, home equity loan or HELOC on it – and want to retain the house – you must stay current with payments. Even if you plan to sell the house, you must stay current with payments, until the house is sold.

Cosigned debts. If you co-sign a loan or credit card agreement with someone, you already agreed to be responsible for payment if they default. That responsibility remains, even after the death of one party.
Joint debt: When a loan or credit card is issued to two people based on their combined income and assets, it is called a “joint debt.” The surviving member is responsible for any joint debts.

Community Property. If you are married and live in one of the nine states that are community property, the surviving spouse must repay all debts acquired during the marriage.
Similar to houses, if you want to retain the benefits of a timeshare, you must keep up the payments.

Source: https://www.debt.org/advice/inheriting/

Dont know about on debt via gambling but to assume out with those things above then i dont see for it to fit out
not unless if there would really be some contracts been signed then as a family then you are obliged to pay up for that.

[Heartilly]

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's possible if the law requires it. But as far as I know, the jurisdiction varies per country, region, or location.

Not sure about other regions but if I talk about our banks here, if someone borrowed a huge amount, collateral is required that is worth and valued as high as the loan amount. Part of the terms is, if the loaner is deceased, and the loan is still not settled yet, the collateral will still be pulled by the bank not unless the family is willing to shoulder the remaining amount to be settled. Settling debt through legal cases is difficult as there are requirements needed and if worst, the lender might also face a lawsuit, especially if not a registered lender.

[Falconer]

Maybe each country has different rules regarding bank loan or something like that, but in general this can be resolved based on agreed provisions. Banks usually need collateral before giving loan to their customers, but in some cases banks need a reason why you need a loan.

If the gambler owes money to the bank for gambling purposes rather than other needs such as business, then it is very likely that the bank will reject the request. But I can absolutely tell you that a major natural disaster (like Tsunami) and death to the borrower could wipe the loan out of repayment.

[SATWAT]

Maybe each country has different rules regarding bank loan or something like that, but in general this can be resolved based on agreed provisions. Banks usually need collateral before giving loan to their customers, but in some cases banks need a reason why you need a loan.

If the gambler owes money to the bank for gambling purposes rather than other needs such as business, then it is very likely that the bank will reject the request. But I can absolutely tell you that a major natural disaster (like Tsunami) and death to the borrower could wipe the loan out of repayment.

Here I am agreed about few things we have different laws and rules in different countries because due to literacy rates are not good at developing countries we have too many issues and things which are never been happened in developed societies because here we have to people those are having all lives as slave due to their elders loans which they are not able to pay so they have to serve just for the food and even many done things which are not mentionable here but its happening even in this era still we have too many areas which are not able to bring themselves as the technology era or having better literacy facing things like these.

[Stable090]

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?

I do really feel bad whenever I see people taking loans just because they want to gamble, why do you have to take that kind of risk, I don’t just know what some people doing that do think, no matter the advice that you give some people, they will still go back to take the loan and gamble with it.
 
If a gambler couldn’t take care of his gambling debt before passing away, then the properties he left behind will be sold and the debt will be cleared. That’s just something family members can do because people from whom he took the loan will want to get their money back.

[alani123]

This is highly dependent on a country's legislation. For example, in certain countries you can just deny the whole inheritance from your parents and then you also don't inherit the debt.
In other countries one simply can not inherit any debt at all. Other times it can be mandatory to inherit certain kinds of debts.

Honestly though, I don't think gambling debt is as enforceable as debt to a bank. Of course if you deposit in a casino with a credit card, or with money from a bank loan... The casino keeps the money you lost and the bank still goes after you no matter where you spent it at. Moral of the story I think is that everyone should be responsible. Don't go on debt for large risks like that. Better just play with cash you can afford to lose.

[irhact]

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's possible to inherit a gambling debt, sometimes it mightn't be a gambling debts specifically but a debt owned by someone that put you as their beneficiary can be passed down to you as if the person had money, you'll be the one to have benefited from the inheritance. Some individuals owe many people that they have borrowed money from and can not pay back before they died, gamblers are making life difficult for their relatives and this is the reason why people hate gamblers.

If the gambles were gambling correctly and only using their spare money to gamble, people won't have had a problem with gamblers but this individual go around to borrow money with an excuse of using the money for something important but it's to waste them while gambling on games that they don't know if they can win. They'll be thinking that winning is easily but they're losing always when betting.

[Marvelman]

In most laws, the debt of the father is only his debt and not of his kids. Unless the lender and the father had signed an agreement that if the father passes away, the debt will be continued and becomes the burden of his children.

Yes, generally speakin', a dad's debt doesn't just get passed on to his kids when he dies.  But there's always some catches, dependin' on where you live and the specific laws.  For instance, the deadbeat dad's estate - I'm talkin' his assets like houses land, money or whatever - that stuff can get used to clear up what he owed before anything gets handed down to next of kin 

Other exception could be like if the kid co-signed on a loan or somethin.  Then the bank might still come knocking.  But short of that, or the kid voluntarily takin' on dad's debt for some reason, they typically in the clear.  It's a nice rule to have letting the children start fresh without inheriting all their old man's baggage.  But the flip side is they don't inherit all his riches neither!

[topbitcoin]

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?

From the story you told, it was not mentioned where the person borrowed the money from, from the bank or from a loan shark? Because when borrowing money from a bank, at least the person must have collateral or assets that can be used as collateral. Unless the person borrows money from a loan shark, there is no such thing as collateral, where just by submitting personal data someone can take out a loan. But the minus is that the interest is relatively high. and that is why many people are in debt. And it could be that the person you are talking about has something to do with loan sharks. and it is natural that society's view of a gambler becomes worse, because they judge from what they see.

This story is a lesson and a reminder for us regarding the negative impacts of irresponsible gambling and poor debt management. And it's good if in a situation where we don't have the money to continue gambling, it would be better if we postpone that desire. Indeed, when it comes to gambling, it is full of surprises, which can change our financial condition, but this only happens to a small number of gamblers, for the majority they continue to experience long-term losses.

And can this matter be brought to court, yes actually it is possible, but regarding winning or losing in court, it depends on the efforts made.

[angrybirdy]

The lender should always ask for collateral to anticipate things like this because he's in no control in real world situations.

If I am kid with that type of father, I will not take care of it. I have my own life, my own decision to make so as my father.

Even if they have an NDA contract, am I present by that time of signing? No. I will fight for my right that in no way I am associated with my father's decision and debts.

That's the right way to lend money, especially if it's a large amount of money, it's really necessary to have collateral because we're not sure if we'll actually be able to pay what we owe, and it's difficult if we pass it on to our children because they don't have a naive attitude towards loans their parents will do, but just like in other countries, if you borrow from normal people only, it is possible that the charge will happen to different generations of the family of the person who borrowed.

[Volimack]

Talking to the creditor in person When the creditor won't listen the person can try on their own or take legal action. As far as I am concerned, no collateral loan should be given because everyone is talking and not talking now. If there is any security the person will be able to pay according to his needs. It will not take time to repay the loan. Everything should be done on contract basis.

[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.

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

I really don't think that the International Law Authorities would be able to help in such cases because a debt is a debt.
The world should stop giving away loans without any collateral and that's the only way how this can change.
In case of any default or demise of the person taking a loan, the collateral can be seized and used for paying away the debt.
In gambling though, this is hard because people are looking for quick profits and giving loans without collaterals have high interest rates.
So people give away loans with high interest rates but then the worst happens and they have no other option to ask their family members to payback the debt.