Topic: Is it possible to inherit a gambling debt? - page 3. (Read 1881 times)

then the crux of the problem is "ADDICTION" it will make everything look negative,
every addict will spend more money on gambling without thinking about how much they will get.

It has become an acute mental illness that is difficult to cure if not cured immediately. Parents need to be a good example for their children.
I knew gambling could be a hobby. But don't sacrifice the lives of children in the future with debt because of addiction.

I know some people who are quite fond of gambling, but they have control and don't cross the boundaries they set themselves.

Like what the heck. Why would a parent do something as stupid as go into debt because of gambling. Most of the time we often use the statement of gambling being a neutral act but the fact is things like this are what makes a great deal of people very gambling as a wrong act. Infact I personally have this idea that every single idea of gambling being a negative act is as a result of the damages gambling addicts have caused over time.
Things like this are the reason why gambling should be done with caution. A gambler in the first place should not even have the urge to consider borrowing or taking a loan just to meet his mere gambling pleasures for the time being. In fact the truth is only a gambling addict would give such idea a thought in the first place.

To the best of my knowledge, guarantors can't agree to sign something they do not understand, no matter what kind of relationship they share with the person they went to sign the guarantor agreement for, because signing that type of agreement means that if the person who's taking the loan doesn't pay back, they should hold you accountable to either pay back the loan or provide the person with the opportunity with the opportunity to come and take appropriate action.

Only a stupid parent would do this to his offspring.
The debt due to gambling will be large because the interest continues to run,
but some loan sharks who give debt will usually provide relief to pay if the debtor is dead.

What kind of inheritance if you have to pay off debts because of gambling,
it is not an inheritance, but a disaster that will befall our children and grandchildren.

So from now on, you must be aware, gambling is entertainment and don't use money that shouldn't be used, don't borrow just because you want to gamble.
Thinking about the lives of our children and grandchildren after we die is necessary to do, don't just think about your own pleasures that are only temporary.

You are absolutely right, so that if a gambler gambles and couldn't pay up, if he borrows money to gamble, he should be hold responsible and not the parents.

I don't think it's wise to even borrow money to go and gamble, what if they lose all the money in the process, as for me I can't borrow money to someone who gambles, I don't want stories as well as problems and also if I borrow money to gamble to use it to go and gamble, I'm not helping him as well, I'm still leading him or pushing him to go and be irresponsible, which they will not be useful to themselves and to the society, in the sense that they can't be able to save up or they can't even think of working or looking for a job to be earning because they think the only source of income is by gambling.

So the best thing to do it's just to help them in a way we can, by providing job opportunities for them etc and not to borrow money to them, even if they keep collateral or even have guarantor.

Even borrowing money from your own friends is already wrong if the purpose of borrowing the money is for gambling, let alone borrowing the money from a large and official company such as a bank and the purpose of the loan is for gambling, of course it is very wrong to do that. I think those who dare to borrow money from Banks to get money and use it for gambling are people who have lost their sanity because if they do that there is little chance they will be able to pay it, not to mention the interest which will be even greater if they are late in paying it or can't pay it, of course it will involve family and the law. which could result in the borrower being subject to large and severe penalties for not being able to pay the debt. Apart from that, their family could also be involved in being responsible if the borrower hides or shirks responsibility.
If the debt is done by yourself without anyone else knowing about it, of course it is your own responsibility and you have to resolve it yourself, maybe by telling a story, that's fine, but if you ask for help to pay off the debt, I don't think it will work, especially when they find out that he those whose debts are caused by gambling are unlikely to be liable. Apart from that, giving good ideas must of course be done, and I think you yourself also know the ideas that should be given to children regarding good parenting.

It could definitely be settled in court, but the defendant needs to pay up the money. That statement depends on where the loan came from; if it were a bank loan, the already paid collateral will be used to clear the loan and, there's certainly no case for his children. If he got it from any other monetary institutions, it'll not just need a refund but they'll calculate penal interest, should he fail to make payment .

What's the essence of putting people through some unnecessary stress of working to pay up a huge debt that you accumulated, all by yourself? What ideas are you passing on to your kids on good parenting?

For someone who do offers that kind of lending money to other people then you should really be always thinking up on advance specially or including for that borrower for them to possibly die on which it will really be causing up that total loss on the moment that you wouldnt really be getting any of those loan amount. We arent that being that too greedy but it is really just that right because its our money. We should really be wise on how to get at least and wont really be totally considered to be forfeited and this is why these kind of agreement could really be applied and if ever that there would be those arguments in between that lender and the borrower. If things turns out to be severe then lender would be having that something to be able to represent on which he/she could have a chance on getting those amounts back and those loved ones are the
ones will be continuing the loan.

Inheriting pending loans is something that give out that headache, were not really that lawyers or someone whose that good on legal aspects but
if there would be those contracts or agreements that been signed or agree upon then it could really pushed through legal means.

I am sure that lenders will prefer to look for something that can be used as collateral such as valuables or assets owned by the borrower such as land or even a house if the loan service is engaged offline such as a local bank where the collateral can really be used as a second escape if the borrower cannot pay the debt, but so far I have seen that loan services that are engaged online through an application or website always experience problems where many of their customers do not pay their debts and run away.

Usually when people borrow from online lenders, they will usually make someone else the second party responsible by only entering someone else's cellphone number, and I have experienced this incident where one of my friends borrowed from one of the applications and made my cellphone number the second party responsible which in the end of course the service always contacted me but the problem could be solved only by selling my cellphone because of course everyone will not want to take responsibility for something he did not do. This means that the incident you described will probably only happen when the loan scenario occurs individually such as to another person or one of their friends or it could also be online, because if the loan service operates offline such as a local bank then usually they will choose a valuable item owned by the borrower as collateral.

Some casinos don't just focus on gambling, they also offer loans for addict gamblers to make more money.
Even if it was illegal debt, these people would force the family member to pay the debt of their father/mother. They will take it the hard way, that is how this debt business runs in gambling. They let you borrow but you can never run from them because the consequences are too regretful if ever. Indeed, it is NO but no way they can disregard it because they will come into their house and get all their assets and valuable belongings.

Banks will never approve loans if that is for gambling that is why some people make denials. For the sake of their addiction, they will do everything just to have some funds. This is how addiction ruins our lives, not just our personal lives but also the entire family.

It's possible, but if I were to be a guarantor for a borrower, I would make sure I know the purpose of the loan because I feel like I'm the second borrower. In the event the main borrower fails to pay, the lender will certainly come after me, which means trouble on my part.

I think it's better if the borrower has something to use as collateral. That way, there's no burden on the lender to collect the money, as they can just sell the property or asset and liquidate it to settle the remaining loan balance.

Only those loan sharks will go after that since they wanna try to install fear from the family so that they can get something to them. But if the head of their family know that they can't go after with them then provably that they cannot do anything. But its different story if they agree to became a co-maker but for sure most likely this scenario doesn't happen since most of the gambler hide all their activities especially for gambling and their loan taken out from other people. So the lender cannot do anything in this case and can't sue their children to the loan gotten by the deceased person. But in banks I'm not sure about that but there is interesting article that we could read since we could learn something from this https://www.cnbc.com/select/what-happens-to-loan-debt-when-you-die/.

It shouldn't be, because it is very likely that the loan agreement was carried out by both parties without involving the other party. for example, children, wife, who are part of the loan. In particular, the money borrowed in this discussion is for gambling. nothing is inherited, because if that happens it means someone else is involved. for example, when borrowing a child and maybe the wife participates or agrees or even signs. but in this context, I believe that is not the case. So, I'm not sure whether this will be strong enough to be brought to court. Likewise with the borrower, they do not have the right to require the child to pay his father's debt, especially for gambling loans. even if the borrower comes to collect their rights and money, if the person who borrowed it is gone as implied in this thread. which means, no one can be held responsible for his father's debts. except, the child and family are willing to resolve the problems that the father has created. In this context, perhaps moral obligations are taken into consideration by the family.

Now we are at the point of addiction, the problem of addiction is actually almost the same as other addictions. It's just that, in this discussion we are talking about gambling addiction. In fact, the problem we face is not just a problem of gambling addiction, this is just part of other addictions that can ensnare someone into taking out lots of loans. After all, there is something much worse than gambling addiction, it's just that gambling has too much of a negative connotation in society. especially, those that are attached to a belief.
The point of this thread is that if there is no express agreement, nothing can be brought to court.

Well it's possible that the garantoors maybe trusted friends or even family member that had no idea that he wanted to use the money for gambling, its also possible that it wasn't his initial reason to borrow the money and maybe passing by a gambling shop he couldn't control himself or maybe just decided to fund his betting account and that's how he ruined it all.

In almost all the countries, no. Because in most countries, gambling isn't something you can do, gambling is illegal in most nations, and there are only few places that would let you get debt while gambling as well. So, unless we are talking about taking out a loan at a bank and then gambling with it, then you are not going to inherit gambling debt.

Most places that let you gamble and get a debt, like open a credit for you, are places that aren't all that legal, and in illegal sense if you inherit debt or not, depends on the bad people who run those illegal places, if they want to then they do, if they do not want to then they can't. I believe that "officially" the answer to this question is a no, but of course you have to live it to see it.

Indeed, it would be better like that, and in my opinion it is only done by those who borrow from official parties such as banks, because if you borrow from a friend you might not do it either because you feel like you know each other or what is clear is that this is rarely done if you borrow from each other. friends, but even if you borrow from a friend, of course you have to pay it off, borrowing from your own friend doesn't mean you can ignore the loan you made, in fact, if you borrow from a friend and are not paid or repaid then what will happen is the destruction of your relationship with each other, it could be the friend who lent you the money. This will result in a loss of respect because there is no good responsibility in paying off the debt that has been incurred, and even if our friend borrows money and then he goes somewhere leaving his responsibility, the rest of the decision is up to the borrower, if the borrower wants the money back then he has to tell If one of their family members has debt and doesn't pay it, the news will disappear.

If they write proof before making a loan, such as the person borrowing signing on the agreement paper, I think the borrower can show this to the family if one of their family members has a certain amount of debt that must be paid off. Even though the family doesn't know about this, I think the family must pay off and repay the debt.

It varies for this kind of laws but I find it more fair when the deceased gambler had some properties on his name and that can be used to pay the debt that he has left. It's fair for the lenders that have spent money on lending them and they need to take it back as well but in a form of other asset or collateral that they can pay for that. For the side of the family of the borrower, probably many of them aren't going to agree with that because they might find it a waste of money and inheritance but if we play fair and square, they just have to let go of it together with their old man.

That is different case. A debt from a friend should be paid but it's different from inheriting a friend's debt to be taken care of yours. You have no obligation about that if he took that debt from other people. But then, if that friend of yours took the loan from you then you have to ask and collect the payment from him. An inheritance comes from someone who has passed away and with your example, it's certainly a different case but still a debt and gambling related situation.

If the father owes a debt to someone who is not a loan shark or bank, there is no proof whatsoever and the heir also needs to ask for proof so he can pay because other people could lie to get money from the heir. But if your father borrow from a bank or loan shark, there must be proof of the record the borrower and heirs are obliged to pay the debt if the borrower takes out a loan from them. If they are not paid, there is a high possibility that valuable assets could be confiscated. It is the family's responsibility if one of the family dies and leaves debts because as we live, no one knows when will die.

Borrowing debt, whether for gambling or for other things, the bank or loan sharks don't want to know because for them the borrower borrows money with interest and those who lend the money also don't want to know who is paying. Either directly or their other family members at the bank or The loan shark will definitely find out about the borrower's family so that if anything happens the family will be the one to cover the debt even though they don't know what the debt is for even though they didn't use it.

Yes that may not actually be the legal way but seem to be, u duely concur that most people today has such treaty because even when you want to get your money back after the passing away of the person who lend the money it's very hard because you can't go to court without evidence beside it's not also correct if you take person to court has had nit even enter any contract with you remember there is a saying that Nemo quod non havet that is to say no body can give what he don't have it's what you have as evidence you will tender in court and court will now see it and asked the people to pay back since they are the man's children as they had benefits from the man directly or indirectly, but without evidence it won't work.

If a person dies with debts, then it is logical that his debts can be paid with property belonging to him after his death. This means that his heirs, if they want to receive an inheritance, must pay the debts of the person whose property they inherit. On the other hand, a number of countries are beginning to adopt more progressive laws. I know that in Russia they have now passed a law according to which family members are not obliged to repay loans taken by other family members. For example, if the husband has a loan, then the wife should not repay it if something happens to the husband. And moreover, even if the husband takes out a loan, he must take the consent of his wife. This is logical, because most often they own common property.