Credit/Credit Cards

[yearsoflonliness]

I have spent the last year and a half paying off all of my credit card debt. (It was really bad) This has done wonders for my credit score.

I have a generous amount of free/available credit.

If I'm going to die, what are the risks of using that credit? I am aware that any debt would become payable from my 'estate'. What if my estate's value is near to, or 0, before I ctb? How do gifts work?

While legally, I believe my family wouldn't be responsible for my debt, there's nothing stopping the greedy banks from threatening my family to get repaid. I'd like to avoid them doing that of course. My credit card accounts are not joint accounts. I am the only authorized user on all of my accounts.

It could definitely be time to eat out and enjoy some good food. I could buy a nice car. What about sending money via PayPal to some family members to celebrate a birthday or wedding?. What do you guys think? Do they have rules against transactions made before a death? I don't think that would be fair to all the parties involved. Especially restaurants.

If you guys think this is a terrible idea, the only thing I need to buy is my gun, which will probably cost me around $1-2k. I'm broke cash wise, I don't think the banks would bother with such a small amount. I could probably close all of the open accounts, just to prevent scammers from using my info in the future. Maybe that would make it easier for my family to handle things after I die?

 

[Euthanza]

I don't think it's wise, but so are the banks. Bankers are robbing people all over the world since forever just because they have the power to do so. So I'm neutral in this matter.
Why don't you calculate your estate's exact amount and start from there. Good luck.

 

[Guy Smiley]

Your family won't be legally responsible for any of your debts. Banks won't harass them for money because they know this, but if some unscrupulous collection agency did harass them, a simple cease and desist letter threatening to sue if it continues will swiftly put an end to that.

Any purchases you make or cash advances you make and send to others are a done deal. The banks can't take it back later. So no need to worry about that.

Lastly, if you're just buying a gun for CTB, you don't need to spend $1-$2K. You can buy a perfectly fine used gun for a few hundred (and you don't have to spend $1K even for a new one).

 

[yearsoflonliness]

Your family won't be legally responsible for any of your debts. Banks won't harass them for money because they know this, but if some unscrupulous collection agency did harass them, a simple cease and desist letter threatening to sue if it continues will swiftly put an end to that.

What I'm worried about is that the collection agency or whatever, would threaten to sue my family if they didn't pay. Even if it's frivolous and they'd never win, my family would still need to seek legal assistance which would cost a fortune.

Lastly, if you're just buying a gun for CTB, you don't need to spend $1-$2K. You can buy a perfectly fine used gun for a few hundred (and you don't have to spend $1K even for a new one).

I've given it a lot of thought and a bit of initial research but I am a first time gun buyer so all of the information is relatively new to me. If there's a firearm guide on here I haven't read it yet, so I'll be sure to do that. I typically over plan for expenses because there's always something that comes up or some extra cost I didn't consider.

 

[Guy Smiley]

What I'm worried about is that the collection agency or whatever, would threaten to sue my family if they didn't pay. Even if it's frivolous and they'd never win, my family would still need to seek legal assistance which would cost a fortune.


I've given it a lot of thought and a bit of initial research but I am a first time gun buyer so all of the information is relatively new to me. If there's a firearm guide on here I haven't read it yet, so I'll be sure to do that. I typically over plan for expenses because there's always something that comes up or some extra cost I didn't consider.

If a collection agency threatened to sue your family over debt that they are absolutely in no way legally responsible for, your family could literally just tell them to go fuck themselves. Your family wouldn't even need any legal assistance. I doubt a claims court would even accept such a meritless lawsuit, and even if they did, the case would only last as long as it would take the judge to say there's no legal basis for their claim, case dismissed.

There is a firearms megathread on here if you're interested. I just know from personal experience that you don't need to spend more than a few hundred bucks on a gun that you're only going to use once (other than perhaps firing a few rounds at a shooting range).

 

[notyouraveragemango]

Every country has different laws regarding debt when someone passed so it's best to look into laws relevant to your country. Some countries the debt is just passed down to the other family, some it's just written off.

In the case of it just dying with the family member the debt collectors may still push for the surviving members to pay it from the estate or inheritance of the deceased. This is solved with a letter simply stating the deceased had no assets or property to pull funds from. I've just very recently gone through this process in a country where debt dies with the person but I was still contacted about outstanding balances, I just wrote a letter stating the above and nothing more came from it.