Discussion Anyone else trying to pay off debt before CTB?

[cosmicwr]

Anyone else waiting to CTB until they pay off their debt? I have a bunch of credit cards I need to pay off and I hate the idea of my mother/family being hassled by creditors after I'm gone.

What a way to mount the suffering though. It's so miserable powering through work and forcing yourself to be at a functional level when your heart/mind isn't in it anymore.

 

[AerialBoundaries]

Generally, your debt dies with you, unless somebody cosigned on it.

I'm debt free, but plan on taking out a bunch of loans when the time comes. Maybe use the money to take a nice trip somewhere.

 

[Unwr!tten]

I'd be happier if I could pay off my debt, prolly would be less likely to CTB. I'm young but am already thousands of dollars in debt because I was manipulated and taken advantage of and now I'm suffering the consequence.

 

[cosmicwr]

Generally, your debt dies with you, unless somebody cosigned on it.

I'm debt free, but plan on taking out a bunch of loans when the time comes. Maybe use the money to take a nice trip somewhere.

Oh what, I'm not sure why I thought otherwise lol. Going to look into it more, thanks!

I'd be happier if I could pay off my debt, prolly would be less likely to CTB. I'm young but am already thousands of dollars in debt because I was manipulated and taken advantage of and now I'm suffering the consequence.

I'm so sorry to hear. It's crazy the freedom we have to co-sign on so much money at such young ages, really.

 

[john51977]

It's been my focus for awhile. I don't want to make someone else pay it

 

[Techef]

Generally, your debt dies with you, unless somebody cosigned on it.

This is my understanding as well - unless someone cosigned your debt, once you die nobody else is under any legal obligation to pay it off. Hopefully I am not wrong about this. Although I would not be surprised if debt collectors contacted your next-of-kin and harassed them in an attempt to collect.

I do have a bit of student debt left that was cosigned for (that I could and should have paid off years ago). Was hoping to get a loan to pay off that debt then CTB (though I'm not quite sure if the loaner can then try to claw that money back), but with credit getting tighter seems like that probably won't be possible. After I get everything I need to CTB, I'll just have to scrape together whatever I have left to make as much of a dent as possible before I go...

 

[Zulu]

I have a stupid unexplainable determination to at least pay off my student debt before I go, but I at times question if that's even possible, and if it is, can I truly hold on for a few more years? I'm nearly half-way paid off, but the other half seems like it'll take forever. And yet, it's made clear in the fine print that if I die, my entire student debt is discharged upon receipt of my death certificate. So, it would make more logical since to just end it, but survival instinct is a pain in the ass. Debt payoff at least acts a motivator to keep on trying to give life a chance and it gives me some sort of purpose in making it through each day, but the logic is distorted. I don't know.