Topic: Is it possible to inherit a gambling debt? - page 13. (Read 1975 times)

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.

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.

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.

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

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.

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

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.

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.

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.

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.


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.

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.

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.

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.

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.

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.

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. 

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.

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!

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.

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.