Help Credit card debt?

[foxdie]

What happens to credit card debt after you die? I think my time is coming soon and I've been judiciously using my savings while I've been unemployed for so long. But now they're about to run out.

I have no debt currently but I kind of want to treat myself a bit. I don't however want to leave any more problems for my family when I do go. Will the debt be passed to them? I have no SO or kids or any really close contacts but would they push it off on my immediate family?

 

[WornOutLife]

In Argentina, I think the debt is automtically cancelled.
I hope it's like this in your country too.

 

[SuicidallyCurious]

Are you a US citizen ? The debt dies with you unless someone co-signed on your card. Many other countries work this way.

a counter example is japan, there it is known many debts are passed to family in different forms

Though your family can't be legally held responsible for the debts under US law your estate can be . If you are going to CTB and have no assets to pass on to your heirs or no heirs at all, please please PLEASE max out your credit cards on something you can enjoy before you die. You will have fun and you get to spite the banking systems which are responsible for so much being wrong in our world.

If you have assets to pass on to your family the debts you run up can be collected out of those assets to pay down the debts. There is a bypass to this : you can gift the property legally before you die (will raise suspicion of CTB). Another trick is you can pass your assets through an irrevocable trust where the creditors can't touch it.

if you are looking for detailed advice on this I can advise you and point you to some good resources that explain it.

 

[x~Sophia~x]

What happens to credit card debt after you die? I think my time is coming soon and I've been judiciously using my savings while I've been unemployed for so long. But now they're about to run out.

I have no debt currently but I kind of want to treat myself a bit. I don't however want to leave any more problems for my family when I do go. Will the debt be passed to them? I have no SO or kids or any really close contacts but would they push it off on my immediate family?

Are you in UK? Debt isn't inherited by family in UK, it is written off. Hope this helps.

 

[wordsonscreen]

What about for foreign citizens in the US?

 

[foxdie]

Are you a US citizen ? The debt dies with you unless someone co-signed on your card. Many other countries work this way.

a counter example is japan, there it is known many debts are passed to family in different forms

If you are going to CTB and have no assets to pass on to your heirs or no heirs at all, please please PLEASE max out your credit cards on something you can enjoy before you die. You will have fun and you get to spite the banking systems which are responsible for so much being wrong in our world.

If you have assets to pass on to your family the debts you run up can be collected out of those assets to pay down the debts. There is a bypass to this : you can gift the property legally before you die (will raise suspicion of CTB). Another trick is you can pass your assets through an irrevocable trust where the creditors can't touch it.

if you are looking for detailed advice on this I can advise you and point you to some good resources that explain it.

Are you in UK? Debt isn't inherited by family in UK, it is written off. Hope this helps.

I'm in Canada so I'd assume it would be similar to the US. Thanks for the replies! I think I might just treat myself then

 

[SuicidallyCurious]

What about for foreign citizens in the US?

You are in an even better position. If you CTB in US your family can't be held liable for the debts , and if your assets are kept in your home country the banks aren't going to be able to come after it unless you have an insanely large amount of assets they might try to hire an international lawyer but this would have to be a figure probably in the millions

 

[x~Sophia~x]

I'm in Canada so I'd assume it would be similar to the US. Thanks for the replies! I think I might just treat myself then

Just Google it, it will tell you all you need to know. Happy shopping ;)

 

[SuicidallyCurious]

I'm in Canada so I'd assume it would be similar to the US. Thanks for the replies! I think I might just treat myself then

You should apply for new cards before you die. Run it up to the maximum. I forgot to point one negative : if you back out of CTB you are going to be really screwed .

but if you are sure about CTB you can have a good run. There are many old people who intentionally do this and it's a real laugh.

 

[foxdie]

You should apply for new cards before you die. Run it up to the maximum. I forgot to point one negative : if you back out of CTB you are going to be really screwed .

but if you are sure about CTB you can have a good run. There are many old people who intentionally do this and it's a real laugh.

Ah I don't plan on going wild. I just miss things like junk food, alcohol or weed. I've had such a limited diet for months. My tastebuds would like some variety.

 

[SuicidallyCurious]

Ah I don't plan on going wild. I just miss things like junk food, alcohol or weed. I've had such a limited diet for months. My tastebuds would like some variety.

If you have good credit you may look into an unsecured personal loan . This financial product is available in US and many countries and I presume Canada would be included.

 

[foxdie]

If you have good credit you may look into an unsecured personal loan . This financial product is available in US and many countries and I presume Canada would be included.

I appreciate all the advice but I'm not looking for a lot of money. I have a $1500 limit on my card and I think that'll be more then enough to satiate my hedonistic desires. I don't want anymore "stuff" tbh, just things I can eat, drink or smoke lol.

 

[wordsonscreen]

You are in an even better position. If you CTB in US your family can't be held liable for the debts , and if your assets are kept in your home country the banks aren't going to be able to come after it unless you have an insanely large amount of assets they might try to hire an international lawyer but this would have to be a figure probably in the millions

wow thank you. Okay, I will treat myself to good food :)

 

[SuicidallyCurious]

I appreciate all the advice but I'm not looking for a lot of money. I have a $1500 limit on my card and I think that'll be more then enough to satiate my hedonistic desires. I don't want anymore "stuff" tbh, just things I can eat, drink or smoke lol.

depending on how much you care about your family or love them, you could open new cards and buy things like jewelry, and write a note left with your Will saying "this gift is being passed to you as of x date" and the date needs to be before your CTB.

Doing this is illegal on your part - intentionally maxing out the card , but your family can't be considered criminal or even civilly liable as they will have been unaware. Minimal risk of the gift being clawed back at least under US law and guess what you can't be indicted when you are dead

Im not very materialistic either but this is a good trick to do pre CTB. Even if you just max out the cards to donate to a charity

 

[foxdie]

wow thank you. Okay, I will treat myself to good food :)

Yay for us!

depending on how much you care about your family or love them, you could open new cards and buy things like jewelry, and write a note left with your Will saying "this gift is being passed to you as of x date" and the date needs to be before your CTB.

Doing this is illegal on your part - intentionally maxing out the card , but your family can't be considered criminal or even civilly liable as they will have been unaware. Minimal risk of the gift being clawed back at least under US law and guess what you can't be indicted when you are dead

Im not very materialistic either but this is a good trick to do pre CTB. Even if you just max out the cards to donate to a charity

Ah I think getting my family more stuff would be worse for them lol. But maybe I'll look into taking what is remaining from my balance and give it to charity. There's no way they'd reclaim it after I died?

 

[SuicidallyCurious]

Yay for us!

Ah I think getting my family more stuff would be worse for them lol. But maybe I'll look into taking what is remaining from my balance and give it to charity. There's no way they'd reclaim it after I died?

Under US law no way. If the donation is made before you are dead that can't be clawed back. Imagine the bank calling the charity two months after you died , which in reality it's probably more. "Uh yeh we want our money back because someone made a legitimate purchase and then died after it " the charity is going to laugh them out of the call.

Now , if some rich fuck with high limits did this , and maybe cost the banks millions , the charity might refund it for fear of the bank dropping them as a payment processor. But that's a whole nother rabbit hole and if a bank tried that there are numerous things they could do. The charity could run to the media with the story - imagine a major charity leaking to CNN they are being dropped . "Local mega bank demands to stop processing payments to cancer charity ".

 

[foxdie]

Under US law no way. If the donation is made before you are dead that can't be clawed back. Imagine the bank calling the charity two months after you died , which in reality it's probably more. "Uh yeh we want our money back because someone made a legitimate purchase and then died after it " the charity is going to laugh them out of the call.

Now , if some rich fuck with high limits did this , and maybe cost the banks millions , the charity might refund it for fear of the bank dropping them as a payment processor. But that's a whole nother rabbit hole and if a bank tried that there are numerous things they could do. The charity could run to the media with the story - imagine a major charity leaking to CNN they are being dropped . "Local mega bank demands to stop processing payments to cancer charity ".

Okay cool. I'll have to look into more for Canada when the time comes. I wouldn't put it past any bank to ask for it back tho lol.

 

[BluesRunTheGame]

Ah I don't plan on going wild. I just miss things like junk food, alcohol or weed. I've had such a limited diet for months. My tastebuds would like some variety.

I had just my second takeaway delivery in a year the other day (Domino's) and it was amazing. Being broke sucks.

 

[Makko]

Whatever the local provisions, a bank is very unlikely to start a legal inquiry into a claim worth 1500 USD. Take that times five and add a zero, then they might consider it.

 

[Kbeau]

I don't think morals and values go out the window before you ctb. Why not rob a bank too? Ridiculous

 

[foxdie]

I had just my second takeaway delivery in a year the other day (Domino's) and it was amazing. Being broke sucks.

It sure does. I had some pizza like months ago and it's always satisfying Now I just need to decide for tonight. Maybe I'll finally be able to gain some weight before I die lol.

I don't think morals and values go out the window before you ctb. Why not rob a bank too? Ridiculous

It is unethical but I'm not looking to rack up serious debt. I feel like there are degrees to crimes like this but I think the damage would be less in this case. Serious question: who would get hurt if I maxed out my card before I die? I'm not trying to cause additional suffering.

 

[greebo6]

If they are solely in your name only and you have no personal assets that can be liquidated then the debt simply dies with you.
There is nothing that can be done.
(If I had them I would be tempted to would max them out and have a bit of fun before I went as the debt would die with me.)

 

[SuicidallyCurious]

I don't think morals and values go out the window before you ctb. Why not rob a bank too? Ridiculous

Morals ? Values ? I don't know what country you live in, but in my country the main banking entities ran away with trillions of citizens money in 2008, and they've done it in many other ways before then and since. Any time you can cut an run on a bank - you should. And another thing - any time a banking executive or a member of their family dies , I roar with laughter . The more pain for them the better

 

[Makko]

I don't think morals and values go out the window before you ctb. Why not rob a bank too? Ridiculous

Come on, let a guy nick a pizza. JP Morgan won't go bankrupt for it.

 

[SuicidallyCurious]

It sure does. I had some pizza like months ago and it's always satisfying Now I just need to decide for tonight. Maybe I'll finally be able to gain some weight before I die lol.


It is unethical but I'm not looking to rack up serious debt. I feel like there are degrees to crimes like this but I think the damage would be less in this case. Serious question: who would get hurt if I maxed out my card before I die? I'm not trying to cause additional suffering.

Don't listen to propagandists who act like it's an unethical act. The banks owe you a million times over for the con jobs they've pulled over the years . In almost all world countries we live under a fiat regime where credit is created out of nothing , and doled out to the well and politically connected at the best rates. The common trope you will hear from financial moralists is "by defaulting you are raising the cost of credit for everyone else". Bollocks. It's a drop in the bucket and the banks have used and abused the public so many times it's only right you get what is due to you.