Topic: Is it possible to inherit a gambling debt? - page 2. (Read 1975 times)

Talking about debts that must be paid, if the debtor has died then the heirs are obliged to pay and pay off all the debts left behind by the deceased, because no matter what, a debt is still a debt even if it is a debt from gambling profits, which in essence the debt must be paid and paid off. by the heirs or close relatives of the deceased, because in any case there is no tolerance for debt, everything has an agreement from the start, whether he wants to borrow money for gambling or other things is his right, because from the start he only lent the money and it will be pay when he has other money.

Talking about whether it is permissible or not depends on who wants to pay the debt, if you say it is not permissible, what do you want, it is also a debt, so it must be repaid by the immediate family, whether it is a gambling debt or something else, the debt still has to be paid, because the party The authorities can't even buy the debtor himself, because of the agreement from the first time before asking for a loan with the debtor, where one day when he has the money he has to pay, if the debtor dies then his heirs or relatives are the ones who have to pay all the debt.

What country do you live because police doesn’t seem working based on their job description. Police should act if there’s already threatening involved since it’s more on public safety rather than loan issue if violence is already looming.

Reporting it to the police is the right choice so that the loan shark will be automatically the prime suspect if ever they issued the violence. But also the debt should be paid even on terms with the help of the court or just an agreement between 2 party.

Loan shark will not harm anyone as long as they are being paid even in terms so reporting them to police is the right choice.

In this situation, I would recommend seeking legal aid or community support services for protection since loan sharks are already involved in this. And, I think that the police cannot do anything and most likely suggest settling it in court. Some people who are in huge debt are going to different countries to flee from them.

Why would someone inherit gambling debt? This is ridiculous and I don't think this would be accepted everywhere.
There are some places where inheriting gambling debt is impossible and can never be tolerated. Everyone needs to carry their cross and should not be extended to others that do not partake in it. Gambling debt can be possible in some advanced countries but their world be a lot of consideration that need to put into a book. I think for a person to inherit gambling debt, their should be a written agreement or something that would be shown in court that such an agreement to structured on behave of the two parties with a written legal reference.

I think the estate of a person deceased does have to clear loans and debts owing, so that'd wipe out some or all of the asset worth passing onto family.   Its possible the debts can exceed the capital left in a will or estate which means nothing at all passes on, the children arent liable for the debt they didnt take up.

  Children still lose some or all of the capital that they might have otherwise inherited.   A good Will prepared legally will be able to protect asset worth in a trust and that might survive debts, this requires proper legal work beforehand though.

Well, yes I think debt can be inherited from parents or relatives, depending on the person that is very close to the debtor or the person that stood as a guarantor for the gambler. Before someone takes loan, they usually use someone as their guarantor which is liable to pay the loan if the real borrower is unable to repay or perhaps the person dies. If the children of the borrower are wealthy enough, they will be entitled to clear their dad's debt to avoid drama from the lender. This kind of issues have caused several issues in my place.

However, the heirs will be obliged to pay off the debts left behind. whether the money is used for gambling or other purposes. heirs or family members cannot just claim or enjoy pleasure when they have money alone. but when a person dies but still leaves debts, then there is an obligation for family members or heirs to pay those debts.

but we don't know what the agreement is between the lender and the person who borrows. but in my opinion, the debt still has to be paid. even with requests for relief or other forms of negotiation.
Of course we have to see the proof and legality of the loan made. it could also be an opportunity for blackmail that could occur to the heirs. We also have to see whether the loan uses collateral or not. because it is related to the assets owned, of course it must be resolved properly.

As far as I know, in the modern western countries is not possible for a person to inherit debt at all, that including gambling debt. Once the person passes away, the state takes care to reach a settlement with the lender of the money. Though, there are relatively few documented cases of that happening.
The only way I could see someone inheriting debt from a family member would be if the money was borrowed from a criminal organization or a criminal syndicate, they obviously do not care about legislation and the laws of the country, so they threaten the family of the deceased gambler and pressure them into paying all back in a fixed period of time. Having inherited gambling debt while living in a third world country dominated by corruption, must be a very nasty experience, since one is paying for the  pleasures and entertainment someone already had and never took responsibility for that money. 
I pity anyone in such situation   

Unless the police is corrupt, involving them is the most reasonable alternative if the loan shark is threating to do something against the family in case they don't pay off the debt of a dead family member. Personally, I wouldn't negotiate with thieves and murderers, so I definitely wouldn't wish to directly talk to him on that hypothetical situation. The debt isn't mine, I did nothing wrong, while I'm being physically threated. Since we live in a civilized society, there must be civilized means to solve the situation, what involves demanding action from authorities.

I have often heard about such incidents where the gambler or let's say the person in debt passes away and then their family had to repay the debt.
So yes, in many the debt is inherited by his family and in some cases I guess the debt becomes invalid since the person himself passes away.
But according to me people should not let the debt be passed on to their family at first place.
If someone is taking a debt they should make sure to clear it out ASAP and if not then they should have a back up plan in place in case of such mishaps so that their loved ones don't suffer.

Although I’m not against with borrowing since I’m doing it myself but I don’t consider it as positive since you are paying premium(interest) once you borrow which you didn’t have to just to gamble if you will just wait.

I said that I’m not against since borrowing helps a gambler like me to play in advance while waiting for the payday but it incorporates some additional expenses which is painful if you loss the borrowed funds so in general it’s both good and bad depending on the user but it’s not positive tool since of high interest rate for a shourt period of time which is unavoidable if the person is willing to wait.

It depends on who is lending, if it comes from a government agency or body that is official and known to the government,
maybe the regulation will apply, but not all debts will be forfeited.

Maybe only a few percent because the Bank or such a savings and loan cooperative place does not want to get losses because one of its customers died.

Many people look at borrowing negatively but I think it is positive. There are many people who are successful with loans and there are many people who fail. It will mainly depend on the borrower. Because a person who takes a loan and gambles without thinking about repaying the loan, he must face danger. Borrowing leads to a more precarious situation for those who do not have the source of income or money to repay the loan. The father of the family who has to struggle to run the family with his income will surely run towards debt if he takes a loan. Since gambling has not yet been legalized in many countries, one person's debt cannot be imposed on another. But when anything goes too far, it is no longer normal. Of course the number of such gamblers should be reduced otherwise the society may be affected.

People actually stand as a guarantor for debtors if the debtor is a trustworthy person and the loan purpose is justifiable and necessary. Although, in this case I don't think any sane and reasonable person will agree to stand as a guarantor for someone who needs the loan for gambling purpose regardless of their relationship. It's very wrong decision to think of borrowing money from close friends or family members to play gambling talk more of taking a loan that will require a guarantor just to satisfy your gambling urge and leave the debt for innocent family members to pay when you are no more.

There is no case here as far as I know about debt and loan. It is a tradition and norms to pay back debt they inherit from any member of the family when the debtor is not more regardless of how the debt was acquired or the purpose it was acquired for. Collateral can be used to settle the debt if the family members can not be able to pay the debt but in the case of no collateral, properties can be sold to settle it. For every gambler out there please play responsibly and stay away from taking loan to gamble. It's unhealthy to us and our loved ones.

Involving the police, does it sound like a way to settle the problem? The cops can decide to side the loan shark. Because his money is at stake and it'll be also injustice on the loan shark's end if his money is not given to him. I understand that people are not meant to pay for loan they don't know about, but they are better means of settling such matters.

Provided the loan shark has given out proof about the deceased person owing him, talking to him to atleast reduce the amount of money for the moarning family is the best idea. Trying to go it the aggressive way will only piss off the loan shark to take silly decisions. The loan sharks also take this steps of asking for the player's family contacts for the same reason. If the person doesn't come back to pay back or leaves this earth, they'll trace him to his family using the information he's provided.

I have never seen a situation where family members had to use money from their own pockets to pay off debt from a dead family member. It doesn't seem constitutional in any cases, because nobody can force third party people to honor their agreements, in case they can't. At least, not without the agreement of this third person as well on the moment the contract was signed by both parties. That is what we call guarantor. And only in this case the debt will be passed ahead, to the guarantor in this case.

Loan sharks are another story, though, because they can use illegal coercive measures to force family members to pay off debt, otherwise they will suffer the consequences... But that is something completely outlaw, so I don't think we could consider it a inherited gambling debt. In fact, people should call the police in these cases, so they can be protected against the loan sharks' threats.

This is a huge irresponsible act. Others are striving to leave something meaningful for their children when they answer the ultimate call, but others are busy living their lives uselessly. This could be to the extent that some children will be faced with the problem of some debt settlements. Regardless, cases like this are different with different possible solutions to them, and in all, the children may or may not pay the debts. Under the law, it is the person who offended that will suffer the brunt, the same thing is applicable to a loan and ist settlement, it is only the person who borrowed the money that is liable to pay it. This is why you are at your own risk if you lend money out without some proper agreements, guarantor(s) and collateral that will back that agreement up. If there are agreements/collaterals in case of eventualities, then the creditor is empowered by law to enforce his debt recovery agreement.

But in case the property, for example, is worth more than the debt, the remaining shall be returned to the deceased family. If it is a guarantor's agreement as well, the guarantor will be made accountable. However, if there are no such things as mentioned above and the deceased dies, even if he has 100 houses, so far they are not linked to the agreement, the benefactors after his death can decide whatever they like on the matter of whether they should pay or not. In some cases, even if the deceased did not leave any properties for the family, the family may decide to clear the debt in his name to honour him (if they have).

No amount of court can change this stance unless there are some legal backings and I know that creditors are getting wiser these days to avoid issues like this, except for the Loan Sharks with huge interest rates due to their desperation.

In the law the kids or any paying relative of the deceased will be required to pay the deceased's debts, based on certain stipulations that is. However, some courts of justices either forgive the loans due to the nature of the situation that the bereaved are put into, or just take out the interest and have the mourning pay the capital amount. It's just how the way works and an even bigger reason why people with families should be on the lookout with their gambling behaviors, cause we have no way of knowing when and how we'll die here on this planet, we can only prepare ourselves and our loved ones for when it does happen, and if you're out here ruining your life knowing you got a wife and kids at home waiting for you then let me just say you're a horrible father and honestly speaking, they'd be better off without you than have you around them and experience life with a subpar partner and parent who's got no regard for the future of his kids cause he'd rather gamble his life savings than prepare for when he has to leave his family.

As far as I understand, if the loan comes from a bank, then the loan will be paid off when the borrower dies and family members no longer need to be burdened with the loan. However, if the loan is from a third party, for example a loan shark or cooperative, which has a loan agreement which states that family members need to pay the loan even when the borrower dies, then the family members or children will inherit the loan. And that is what usually happens in casinos, where they design the loan to be passed on to family members/heirs appointed by the borrower. And people like this who are in debt and pass on their debts to others are the type of people who are selfish and have no feelings.

How this issue could be solved will depend on the laws of the country in question, where I live except for taxes, every single debt that a person may have had is forfeited at the time of their death, and even those that had legally bind themselves to pay it back do not have to do so.

So in a country like that it is impossible to inherit your gambling debts to your friends or your family, however it would not surprise me if this was possible at some other countries.