~snip~
I don't think a gambling debt can be passed down. I could be wrong but that would seriously suck. What happens in the case where you don't even speak with your parents how would that debt come down to you now. Same goes with all regular debt that doesn't have collateral tied to it.
That's right, in essence children are not collateral when taking out a loan. Gamblers usually owe money to close friends or the bank to take out loans. However, as far as I know, if someone dies, the bank loan does not have to be repaid. Meanwhile, debts with individuals or debts with relatives are very conditional, where to collect them from their children or their families, they must also include evidence such as notes or proof of loan transactions. Of course it was very annoying, because when his father died he hoped he would be fine, not inheriting debt, especially debt that was used for gambling, that would really break his heart.
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.