CTB and Debt

[nooppop2]

I'm from the UK and at first I was thinking that before I CTB, I will pay off all my debts cuz I was worried that my family will have to pay it for me after. But I recently learned that, that's not the case. Would it be wrong to just say fuck it and forget about the debt instead of prolonging the suffer while paying the debt off?

 

[whywere]

Every country has their own laws and rules of course. Here in the U.S. unless one has co-signed, and one is over 18, any and all debts get discharged. Whatever one has in their own estate goes to paying debts but after that so sad nothing.

Walter

 

[billie]

i'll die with debts but i don't care at all they should figure out how to get their fucking money themselves

 

[nooppop2]

i'll die with debts but i don't care at all they should figure out how to get their fucking money themselves

That's kind of my mentality. I like ur profile pic and name btw

Every country has their own laws and rules of course. Here in the U.S. unless one has co-signed, and one is over 18, any and all debts get discharged. Whatever one has in their own estate goes to paying debts but after that so sad nothing.

Walter

That's what I read about the UK as well. Kinda wish my stuff could go to my family but if there's debt to cover I'm guessing that won't be possible?

 

[pretentioussuika]

Blood relations are not enough to pass on debts, neither in the US nor in the UK. As others have said, any money or assets that belong to you will go to paying off your debts. If that's not enough to pay everything off, then the debt is just a loss for the creditors. That's one of the risks they take.

 

[whywere]

That's kind of my mentality. I like ur profile pic and name btw

That's what I read about the UK as well. Kinda wish my stuff could go to my family but if there's debt to cover I'm guessing that won't be possible?

If your UK laws are like here in the U.S. where if one is over the legal age of 18 and now one has co-signed anything, that whatever is in one's own estate goes to pay off any and all debts. If there is not enough in the estate to pay all the debts, then they are written off. Of course, if one has life insurance to cover such debts, as one wants to leave let's say something of semimetal value, then life insurance would prevent that item(s) being sold to satisfy any and all debts.

Now in the U.S. and maybe? other countries there is usually a 2 year wait period in any form of life insurance called a suicide clause.

I am 69, and I am going to have a scholarship at a college here in the U.S., have not picked out the school yet, BUT I have made darn sure that I have put enough aside to pay off any and everything so they cannot come after the scholarship someday.

I live with zero debts, pay off all credit cards each month and track spending to make sure that the scholarship can and will not get raided.

Walter

 

[locked*n*loaded]

People say "F-it" to debt every day. It's called bankruptcy. If you're married, your spouse will assume your debt. That's the real reason the governments push for marriage so hard. And when people started co-habitating more, the governments instituted common-law "marriage" laws, so that if one spouse died, the debt got passed on to the partner. It's always about freaking money one way or another. If you only have "personal" type things, the creditors won't even bother going after them. If you have a car, they may go after that. If you have a bank account(s), or stocks, or other investments, they may try going after that, too. The only thing that matters is how you feel about leaving debt. For me, it wouldn't bother me one bit (to leave unpaid debt) in this freaked-up world, the way things are, with the greediness that permeates everything.

 

[nooppop2]

People say "F-it" to debt every day. It's called bankruptcy. If you're married, your spouse will assume your debt. That's the real reason the governments push for marriage so hard. And when people started co-habitating more, the governments instituted common-law "marriage" laws, so that if one spouse died, the debt got passed on to the partner. It's always about freaking money one way or another. If you only have "personal" type things, the creditors won't even bother going after them. If you have a car, they may go after that. If you have a bank account(s), or stocks, or other investments, they may try going after that, too. The only thing that matters is how you feel about leaving debt. For me, it wouldn't bother me one bit (to leave unpaid debt) in this freaked-up world, the way things are, with the greediness that permeates everything.

See I really agree with that, because the way the system has failed everyone. The tiny bit of debt I owe in the grand scheme of it all, won't affect anyone. All I care is that family won't have to pay the price and that's been reassured for me.

But I also don't want to go wild with spending in my last days, survive my attempt And then have to pay the price.

 

[locked*n*loaded]

But I also don't want to go wild with spending in my last days, survive my attempt And then have to pay the price.

Very, very wise.

 

[Daniloz89]

In some countries, when the person who owes the debt dies, their debt is forgiven. I don't know how it works in your country.

 

[Jade10666]

I'm from the UK and at first I was thinking that before I CTB, I will pay off all my debts cuz I was worried that my family will have to pay it for me after. But I recently learned that, that's not the case. Would it be wrong to just say fuck it and forget about the debt instead of prolonging the suffer while paying the debt off?

Unless they co-signed the debt as in co-signing a loan, you debt dies with you unless you have an estate. Creditors have a right to have a claim against those assets.