Topic: Is it possible to inherit a gambling debt? - page 10. (Read 1965 times)

On point! if there is a contract that has been signed and it is necessary to reach the court to settle the lending issue, it is better to go to the court in a legal way and avoid the things that should be avoided like charging debts until the legal age of children.If I am the one who is put in the situation, no matter how much they try to get the money owed by my parents, as long as there is no document and my signature, I will never pay no matter how much they threaten and terrorize me. I will fight for my rights and I will not let the things that are happening to other people happen to me now that until the borrower dies, the families left behind are also charged.

If there's a contract signed that the asset will be the collateral of the loan then yes they can take the property written on the contract but they can't asked any further more payments from their children since as being said that they are out of that. Well if the lender is pursuant and eager to get his money back the only thing he can do is to take the property for sure he can't do anything with it as the court will also clear the name of the children out of their parents debt.

They can always contest in that situation and for sure the court will be on their side especially that they are not the one who take the money from the lender. But maybe if there's also a guarantor involve as third party maybe the lender can sue that guy since for sure he is included in the contract and liable to pay those remaining debts.

Yes it is quite possible to inherit a gambling debt in case it was that kind of signed ones. To be honest, I haven't witnessed any case like that before, maybe the ones we see in real live gambling for instance, a father who played poker in a local place or small village then the father died, so everyone knows that family is in debt and a member of that family should pay it back otherwise they would have many troubles and threats from that local casino or table.

Paying debts of passed away relatives is only related to the agreement of that loan for whatever use, or the casino you palying with, before this happens, both sides should sign the agreement otherwise nobody will inhert debs of someone else even close relatives.

When a gambler becomes addicted to gambling, the possibility of controlling his gambling activities becomes almost impossible and at that time, he's very likely to make decisions that'll affect him deeply. I've been opportuned to see gamblers who sold off almost everything in their custody including the ones they that aren't legally their own just to fund their gambling addiction and I've also seen others who went as far as borrowing money from money lenders while using their landed properties as collateral just to also find their gambling addiction. But the good thing about the above mentioned actions some addicted gamblers take is that they'll end up suffering the consequences of their actions by themselves unlike what happens when the take loans without a collateral and probably promise the loanee that they're going to pay later and dies without paying those loans.

When a gambler takes a loan or borrows money and fails to repay before dying, the debts are in most times going to be inherited by his close relatives who will now have to go through the pain of paying for a debt they didn't know when it was incurred but that's not the most painful part of paying such debts. The most painful thing about paying for such debts is that the debts will be payed with the knowledge that the  diseased used the proceeds of the borrowed money to gamble. My opinion about this kind of scenerio is that the law should be more kind to the relatives of such person so they stop paying for a debt they didn't incure

There are many people who take loans to participate in gambling, they go into a lot of debt to get loans, so lenders come to them for loans, they have to sell their houses and land to pay off their loans. I have seen many people around me who take loans from moneylenders to gamble. They take loans and participate in gambling and at some point they lose everything as lenders come to them for loans, they have to sell their houses and land to pay off their debts. Such gamblers are the most hated people in the society, especially in the rural society these people are very hated by all the people. A small budget should always be used for gambling and never more than a small budget. Those who have spent all of their life's income on gambling are the ones who suffer the most and end up in debt.

These things or argument could really go into distance on which on the time that you would really be finding yourself trying out to fight if ever there's some debt that you would really be needing out to be paid up
just because your father or someone in your family have left out such loans. It do really sucks if you do end up on paying up on something that you havent been able to make use of.
The worst thing on here is that this is a gambling debt on which this isnt a debt that it has been used on worth manner but rather it is really just that leisure.
It would really be that best if someone is really that harassing you to pay up some loan just because your father have left something then you could approach for some professional advise or seek of help.

Im not really that good when it comes to legal aspects but if it turns out that there is some sort of agreement on which it is clearly stated
that you are obliged to pay as family members then you wont really be having no choice but to deal up with it.

I don't think the child will have any business with such debts except the were filed as the next of kin or guarantor after seeking their consent but if their consent wasn't sought after then such can be contested in a competent court of law and such person be free of such dept so it's something we have literally see happened in various Case so most times the creditors request a collateral so I'm cases of such recovery of the funds becomes easy .

Kids who aren't aware of any debt arrangements between their dad and a third party can always contest such in court and will be exempted from such a case but then I'd they are aware and consented to it then they may have to inherit such

You sound like you have statistics to this numbers that is bothering you. This borrowing of a thing isn't only fathers who have kids and responsibilities, but have you look into number of students that gamble these days? They are very cumbersome in number and you see them everywhere, some used their school fees to gamble when they are supposed to use it to pay their school fees on the resumption date but because the school fees portal is open for some month, they leverage on that to bet and if doesn't go as they expect it, they start running here and there for help.

Gambling has consume a lot of people, some is because some of their parent refuse to take responsibility of their children and they result into gambling because there is no other way easy alternatives for them. A student is supposed to have textbooks, feeding allowances, assignments and projects work money but all these are not taken care by he parent and is among the reason why student are frustrated to gamble, not just the father's with kids.

This may seems to be harsh but it's a bitter truth we need to know about debt that are being inherited, some people always trying shy away from their responsibility what just happened is that we can also try to talk to our parents that are living a debtful life to reduce also considering their ages. When they are of age we should at least try talking to them to limit their gambling activity in order to reduce being indebted, and again we must check if our (your) parents are those people who loves taking loans even though not for gambling purpose but they might take loan for other aspects of life were we may not know the reason for them to take such loan.

Totally depends if there would really be those contracts that had been signed and there are ones who had been that not that mentioned. There are really indeed debts that could be inherited or transferred on which it is really that sad with that kind of condition on which to those family members who had been left out are the ones who would really be suffering into the debts that you have left behind.
They are the ones who would really be suffering on trying out to resolve into those things that you have created. Therefore, before you die then it would be always best that everything should
be cleared up not unless if you dont have that kind of pity into those family of yours then you wouldnt really be showing up some care but well this is really that situational i should say.

I want to say that the short answer is yes, your kids could aquire your debt even if they had nothing to do with it and you are dead. It just depends on the country you are in and the type of debt that has been accrued. It is quite a shame, I know for your credit card debt it is an absolute, but for gambling debt it think it may vary. Do you have any statistics/source link to the claim that most peole that have alarming loan/gambling debt are fathers to kids? I've never heard of this before....

So gambling and debt can be a real downer. Especially when the debt gets out of control, like that story you shared about the gambler's dad. It's a bummer and a reminder that things can get seriously messy if you're not careful.

Gambling can be fun, but it's not a magic money machine. In fact, it's more like a risky rollercoaster that might leave you feeling empty-pocketed at the end. The key is to play it safe. Only gamble with money you can afford to lose, like that leftover cash from your last paycheck after bills are paid. And remember, winning is a bonus, not the main goal. If you're just playing for fun, losing shouldn't feel like the end of the world.

Well yeah, for me this is the safest thing we need to do if one of the member of the family especially our parents are into gambling because we do not know what they are doing in there either they already makes the property we are in as a collateral or any other properties that will affect each members of the family so better to prepare for the worst. For me this is just an isolated case here in my area not unless gambling addiction is common in a particular place.

Debt, whether we sign or inherit it, binds us. Your scenario is harsh, yet duties don't die with the debtor. Though severe, it's the foundation of financial knowledge. Your loan is for education, a great cause. You face a crossroads when your father, your guarantor, disappears suddenly. Do you avoid accountability because you didn't sign the agreement? Not at all. It's about honour and your father's legacy, not just law

Next, negotiate with the lender. Communication and compromise are key, not evasion. Financial institutions know life's uncertainties. Your approach should be direct, realistic, and focused on honouring your father's wishes without ruining your finances. The principle applies to gambling debts. Responsibility remains. Fortunes would assist the family, right? Conversely, debts persist and require payment. This doesn't include judgement; it's about accepting financial repercussions regardless of their type

I really dislike the situation of someone gambling with borrowed money. Such a gambler is clearly not aware of his actions and exposes not only himself and his family, but also the entire gambling community.

In my opinion, to sue the debtor you must have a loan agreement, otherwise you simply can not prove that the transfer of money is a loan. At least this is the case in some jurisdictions.

Yes, I think that gambling debt can be inherited after the death of a relative. This might be different in other countries depending on specific laws, but in my country you don't only inherit assets, you also have to take care of the liabilities. When it comes to debt I don't think that gambling debt is any special, it will just be summarized across all type of debts. For example, your dad owns his own house worth 500,000 USD, with a 100,000 USD mortgage on it. On top if it he has a gambling loan worth 100,000 USD. Then if you are the only heir you will have to pay back the loans So, if you want to get the assets of your father, you will have to pay back his loans. In the end you only would inherit 300,000 as the debt is not written off. The good thing is that the loans are not being called back in full at the time of death. You will just have to pay the monthly rates for the two loans and are not being forced into selling the house. In case your father has no assets at all, you would still have to pay back the 200,000 USD. However, in that case you can not accept the inheritance and it's not your problem anymore.

That is, in case of debt, the heirs won't inherit the patrimony of the deceased one, as it will be used to pay the debt left by him in life. If after the debt is paid, there is still patrimony left, the heirs will receive the surplus, but in case the patrimony isn't enough to pay the debt, heirs don't receive anything, what is good from a certain point of view, since debt left isn't inherited too.

The reason why many people get revolted on this matter, it's because they think it's absurd to not have access to the heritage, so they consider they inherited the debt somehow. It's understandable they feel like this and blame banks, loan sharks, gambling on the process, although they forget it was mainly fault of the deceased individual who compromised his finances, patrimony and the future of his heirs.

Let me start by saying it's highly irresponsible of any father to be collecting loans for gambling, it is just unspeakable and will truly anger the children especially when they are not following his gambling path. Fathers should be saving and preserving assets for their children, and not otherwise. But still, it is not as thought and obliging as you think, it is subjected to many considerations.

When you take a loan and couldn't pay it until death, no one is responsible for the payment other than you unless there are signed legal documents to back the transfer of payment up which could make another person than the direct debtor liable for payments. For this, the children are never responsible for the collection of the loan, so they can't pay the loan unless they are legally involved. But at times, to avoid shame or just want to clear the name of the father to honour him, they might choose to pay off the debt.

Also, in the case that the debtor uses certain assets as collateral, the creditor will come for the asset to either take possession of it or sell it and set off the bet if anyone can't pay the debt for the deceased. In this case, as well, the children might not want the asset to be sold and be forced to pay the debt. I hope you get the gits? Inasmuch as the children are not co-signers to the loan collection, they are not responsible for it and will not be obliged to pay unless they feel like due to one reason or another. This is one of the risks that banks and loan companies face too if they do not properly document their clients/customers to make them accountable.

Yes, someone can inherit gambling debt if the gambler that loan the money from the gambling center and something bad happen to take his or her life, the person that stand as a guarantor will totally inherit the debt and, we have seen many cases like this in court and the person that stand as a guarantor will be the one to pay the money.

I don't know why some gamblers will finish the money they budgeted for the gambling and still borrow money from the owner of the gambling center, which they know that the owner don't joke with their money because they have two ways to collect their money back from such gamblers either arrest or Sue the gambler to court to recover his or her money back.

a loan is for oneself and the responsibility of the person making the loan and will not be passed on to our children. After death, usually active loans will be removed by the system with proof that the person actually died.
it seems like that.