Topic: Is it possible to inherit a gambling debt? - page 7. (Read 1975 times)

It depends on what the agreement because if the dad is not aware of the debt in the first place and none of his signatures or properties is used for collateral to take the loan then I will say that it still nit your obligations to take or inherit such debts so you have every right to deny consent and be debt free.

But in situations where maybe you dad used the house for collateral for the loan and now he I unable to pay, then you may be indirectly obligated to make a refunds.

Experience will only teach you one truth - do not gamble if you want to make money and not waste it.

That if followed immediately corrects the question in the OP, if someone learns from gambling that it can lead to serious debts and bankruptcy issues, they would not gamble in the first place or stop it as soon as possible.

However most are unable to reach the conclusion and they ignore it and continue to play, endangering the lives of their close ones and next of kin. Most debt collectors in todays world are not that brutal but they try to persuade people and that can be scary. From a lenders point of view, such debt should be passed on to next of kin once they are old enough.

True and gambling responsibly is just reminder statement but it won't be able to have any influence when gambler is unable to implement it, they can think but their desire makes the thought of implementing the right thing forgotten.
In fact, the advice and suggestions of other people are very important, but all of this is also taken for granted by most gamblers and they more often forget about self-control and then just act according to what they want in every gambling activity.
Problems that occur must be resolved well, but sometimes many people don't really care about any problems that arise from their own attitude, difficulties in the future become an end point that people like this definitely experience.
Indeed, it would be better to always consider the risks and impacts that could occur in every decision, such as the decision to borrow money, there must be many things taken into consideration so as not to cause problems in the future.

Learning from other people experiences is sometimes very important and useful, this is why everyone needs to have lot of experience and be able to see other people experiences to use as motivation to be careful in acting in certain activities such as gambling.
But unfortunately some people think experience is not important because they think they are smart enough and know what to do.

Well in the past maybe society don't recognize gamblers are maybe talk down on them and that is because of the kind of life that they live that is full of lies and deceit, distrust and untrustworthy, lacking capacity for keeping to their words, speaking and acting in vogue ways and most especially capable to hoodwink you out of your own money but things have changed lately . This time around there are different reputable people and influencers that are earning a living through gambling and gambling streaming. There are also different companies that are running under gambling business and government is generating huge tax income from them, so that line of anger doesn't really exist because whatever happens can be taken care of since gambling is now regulated.


I don't think someone will be made to face the punishment of another person, if you owe debt to someone I believe the judgement will be how to pay that debt using the debtor's resources and not the descendants. Therefore, if the debtor has properties that has been transferred to the descendants then it can be confiscated IMO.

Exactly 👍
I was just about writing same thing, not until I came across this your response and bless God else it would have seem more like plagiarism and this is also a clear indication that people can be more of like minds and reading comments before responses also does matters.
Everybody going to get a loan irrespective of the purpose for the loan ought to have a collateral depending on the terms of the lender, which at some point, most lenders do ask for collaterals worth twice or even thrice the value of the loan, so as to avoid cases like this and most of them, also ask for guarantors so in case they can’t claim the property or collateral, the guarantor stands in the gab for the borrower, I don’t think this case should be a burden to anyone who isn’t part of the loan terms.

But let’s just assume things don’t go as planned and there was no collateral or maybe a guarantor as well and the loan was given out of trust, and incase of death, I think the family of the borrower should be held responsible for the loan and if there isn’t a peaceful negotiation, then it can be settle in the court.

Gambling Responsibly will just remain a reminder if people don't totally apply it for their selves that's the reason why we can see a lot of gambler messed up with this since they are out of control and didn't listen to the advices of people concerned to them. That's why it create deep trouble to people surrounds them since those people who owe him money trying to get back the funds which has been compromised.

But they should know that people can't charge or ask to pay the debts of their deceased love ones since no one can force them to do that. Gamblers need to learn a lesson from other experiences so they can reflect to theirselves that what they have done will not have bad effect to his family.

Things have changed is why the world is in so much mess today.

In my country, it's not about if the law permits or not, it's simply culture, and in religion aspect it's wrong for a deceased to have some debts on their head.

It makes their RIP to be a hard one, rumour has it that if you are in debt and you die you will have a difficult time passing the right spirit world gates after gates, and the only way you can pass is if your child or your family member settles your debts.

That's why parents are telling all their children the names of people they are owing, even when they are not prepared to pay the debts yet.

That's it ! Everything  should have a limit  to avoid wreckage and this is a good practice  under gambling, there should be a time to know when to stop unless you're  only playing  for fun and might not consider  any outcome from it .
(Gamble  Responsibly)

Sometimes it is better not to lend money, especially with such delicate collateral, apart from that if you lend money to play in a casino it is the worst thing you can do, the person is condemned for his financial life, and if that person loses the money because the only thing left is to look for money to try to recover your collateral and pay as soon as possible and that this serves as a lesson so that you learn that you don't play with that, wasting money is not a game, they can take even your money walking, if someone starts lending money to dangerous organizations they are capable of killing them and everything, that is something that you have to be very careful with.

In different parts of the world each loan has its conditions, so when taking a loan you have to think about all the possible scenarios, so that it is not taken as a surprise.

That right, if you no longer get pleasure from gambling, it is a sign that it is time to stop. Don't force yourself to gamble too much, it's not a good idea to take out a loan or get into debt to gamble. It is important to look far ahead, not involve other people in the problems we create by gambling. Close people or family are not assets that can be used as collateral to pay off gambling debts.

If you borrow a large amount, for sure there is collateral; it cannot be without it because the lender is poor. Now, if the collateral is the house and lot that his own family lives in and they don't know what he did and suddenly something unexpected happens to the gambler who took a loan, for sure there are only two things they can do: either pay his family that lives in the collateral they live in or they leave home.

So it is not good to borrow with collateral that is actually given. It's okay to provide a document like a valid ID or certificate of employment; that's fine, I think.

At least as parents, if throughout our lives we cannot make our children or partners happy, let alone family, at least don't make it difficult for them when they die, let alone leaving behind debts and our children have to bear it, that should also be a warning to ourselves that never make it difficult for anyone when gambling. Gambling must be done with money that is ready to be lost, not gambling with borrowed money, that is clearly not a good way to do it, even though there are many cases like that, it is clear that this problem must be used as a lesson and also a lesson so that we don't do it.

I think we all know that there are many cases out there where lots of gambling addicts commit suicide because they are in debt to loan sharks and they have no other way but to end their lives, it is clear that borrowing money to gamble is not a solution, gambling must be a place to have fun, not to look for money, let alone wealth, because that's not the place but people always expect it when gambling, I'm not a hypocrite and I also want to win but we have to be able to control ourselves by changing our mindset by making gambling something It's a fun thing not to take it too seriously and play with good control, this way allows us to avoid gambling addiction, anything related to gambling addiction will always end up bad.

It would have been better if they are the ones that face the consequences to what they have done than leaving those debts for their children or family to be battling with after which they are nowhere to be found, this calls for us as well to be very mindful on the ways of how we gamble, we shouldn't go over in taking some steps that will have a negative future repercussion, we have to be attentive to the way we gamble and be also considerate of those around us if the way we are gambling will not one day put them in trouble. 

Yea, of course it is a norm for children to inherit their late father's debt and pay it up, so that they can live peacefully. A child should not only inherit something good from his father, but should also welcome the ugly ones like debts. If a man dies does not mean that he goes to grave with his debts, but whoever is in the shoes of paying such debt would be held responsible to pay it. If the gambler left properties or money equivalent behind, it would be converted to cash and clear up the debt.

It doesn't end with gambling debts, as a good son or child that you are, you must clear the debts of your parents after laying them to rest, it's the right thing to do, and if the children are still very young then families should be able to handle the debts.

Maybe it's not the same in every other country since traditions aren't the same but this is how things are in my country, as an upcoming parent myself I don't recommend having debts on you, I am not the type that use debts to do anything, it's not in my nature.

It's better if we learn from this instead of just discussing about it, don't grow some stupid debts on yourself, if anything happen to you, your kids will be the ones to pay up, and that's not good, really.

Problem of borrowing when the person concerned is gone will become more complicated, if it is bank or company that offers loan then not everything will be easy and can be lost without needing to be repaid because each country has different regulations.
Moreover, there will always be guarantee when borrowing from bank or certain company, even with friends or relatives if it is large amount there will also be guarantee and also an official statement regarding the loan agreement.
But it cannot be imposed on children because child cannot take over his parents debts even under certain conditions because there will always be written agreement regarding all these things.
Usually there will be confiscation carried out by auctioning the loan collateral and the remaining money from the auction which is used to pay off the debt will be handed over to the family, this is little knowledge that I have.

It just that usually if they are gambler and are in debt due to gambling activities, they will very rarely take out loans from the bank because they will be more likely to borrow from friends or relatives with an agreement agreed to by both parties.
But there are some who borrow from loan sharks in casinos and this will be much more difficult because loan shark will have an unfair way of collecting debts, even though the person concerned is dead, the debt will still be collected no matter what.
It just that lending money to loan sharks in casinos can only happen in offline casinos.

If the family has been given the debt forgiveness then their silence makes sense because they won't be charged anymore. But this really depends on the loaner if they'll apply this.

I think what makes the argument strong is about the contract of the borrower if any of his family member co-signed in that contract. Otherwise, there's no sense for the loaner to push through with the debt of the deceased gambler.

The family can typically say that they have no obligation in paying of their loved ones that already passed and they have no idea about that debt.

As a parent, you should not do something that will burden your child when he or she is gone, especially if they leave gambling debts, which in my opinion is completely unreasonable. Because how could they think of going into debt to gamble? I think that is something that is not wise at all. Especially if they are parents who should set a good example for their children, because in my opinion there are two possibilities if a child sees their parents' behavior, the first will follow and the second will reject it. And what I worry about is that when they try to follow what their parents did in gambling, it will be something bad for them in the future.

Parents must set a good example for their children, don't let what they do become an example of bad behavior. I'm sure if parents still had a good mindset, they wouldn't do something like this. However, I will not deny that there are some who do something like this, maybe this is only a small part, but still that cannot be a justification.

There Is a process of borrowing money from any loan company or through a loan agent different loan companies have their own way and rules of borrowing money. Some people ask for Collateral some people ask for grantor some people also ask for some of your Bank details to be sure that you can be able to pay back the debt if you truly get, such money a few months a few years depending on the duration of the loan, so also, we definitely check your account statement and see what has gone in to see if you’re capable of releasing such amount of loan to you. Different companies have their own way if anyone should borrow someone alone without asking or Acces  for anything that will enable the person come back to pay the loan it’s on the person,you can’t blame the gambler.because the person might not know they don’t care axing much about that because even if they ask, no no one will ever tell loan  company that he or she’s borrowing money for gambling.

Yes, of course it's possible to inherit a gambling debt.

I don't know how often this happens, but inheriting a debt in general is a pretty common thing.

There was a case that I read about years ago where a small child inherited a debt because by law when someone dies you have 6 months to notify the court that you don't want the inheritance and this clears you of any debt, but if you don't do it, it's all on you. The problem starts when you're a child because in such case your parents have to do that for you, but what if you don't even know that someone close has died. Let's say you have a grandfather who lives abroad and you don't stay in touch. He dies, gets buried by some friends, but friends don;'t inherit stuff, so it all fall on you, you accept it and then get to know about the debt.
Pretty shitty situation if you ask me.