Racking up debts before you die

[original PM]

I would imagine that getting a loan for a considerable amount of money (not the 500/1000 max of the pay day lenders) would be quite difficult if you had a terminal illness......

yes you could go to a loan shark but I have a funny feeling they would be quite happy to chop your legs off to get their money back from your dead relative..

[original PM]

It would put Parky and June Witfield out of work if all pensioners thought "**** it, i'll just grab a Wonga loan to pay for me Co-op funeral"

hmmm given the current cost of a funeral I would imagine a Wonga loan would probably not actually cover it...

better getting a funeral plan

[Platypus]

Same - like a lot of people I've got a Credit Card that has slowly auto-increased its credit limit over the years and I'd certainly be tempted to max it out if I knew I was going to die.

Mind you, if you miraculously survive you may have some issues.

Piffle. Just declare yourself bankrupt.

I would imagine that getting a loan for a considerable amount of money (not the 500/1000 max of the pay day lenders) would be quite difficult if you had a terminal illness

Why would it be difficult? You mean that bit on the form that asks "do you have a terminal illness" ? Oh ffs

Jesus H guys show some imagination and some daring.

[ASB]

Briton Misdiagnosed With Terminal Cancer Sues After Spending Life Savings | Fox News

[AMH]

hmmm given the current cost of a funeral I would imagine a Wonga loan would probably not actually cover it...

better getting a funeral plan

i remember the co-op funeral documentary on tv a few years ago. I wouldn't let them bury my dog.

[rsingh]

If you die in debt, you have made a profit in life. Not sure where I read that. ..

[AMH]

no doubt there is some law allowing companies to claw money back if it is proven they done it knowingly.

[Safe Collections]

Sorry folks but the debt doesn't die when you do, it becomes part of your estate.

https://www.moneyadviceservice.org.u...e-who-has-died

Even if you take a loan and then give it away immediately it is possible for a creditor to claim it is an attempt to avoid payment to creditors and take steps to have those funds repaid to the estate for distribution to creditors.

Just so you know

[GlenW]

Sorry folks but the debt doesn't die when you do, it becomes part of your estate.

https://www.moneyadviceservice.org.u...e-who-has-died

Even if you take a loan and then give it away immediately it is possible for a creditor to claim it is an attempt to avoid payment to creditors and take steps to have those funds repaid to the estate for distribution to creditors.

Just so you know

But we'll be dead by then and not give a ****.

[Unix]

Sorry folks but the debt doesn't die when you do, it becomes part of your estate.

https://www.moneyadviceservice.org.u...e-who-has-died

Even if you take a loan and then give it away immediately it is possible for a creditor to claim it is an attempt to avoid payment to creditors and take steps to have those funds repaid to the estate for distribution to creditors.

Just so you know

Yeah but a person doing this will probably have already distributed their estate so to hang this one on the "man"