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America: I hope my neighbors murder me before I have to go back to work
Omg goals 😫😫
Also seeing as we're the only Mexican family in my part of the woods it's very likely
be careful with old debt, they will try to trick you into renewing it. if you agree to transfer the balance to a different card, refinance, or pay even a single penny towards it - it can reset the limitations
As your financial adviser I don't super duper suggest this as a strategy, and in all seriousness with federal loans there's ways to get them forgiven altogether if you repay them with a certain plan, and also fun fact: in death they don't try to collect, the loans are forgiven
in death they don’t try to collect, the loans are forgiven
Wait, they try and collect from a corpse with other loans?
Christ that's fucked, here they will try and grab cash but if you aren't married they are shit outta luck
My friend's mom died of brain cancer and because her estate had to settle debts, they had to sell their family home just to pay them.
When my mum died, after about a month or so, a company that gave her a loan 6 months before tried contacting me for it, I told her she was dead, sent them a photo of the death certificate and that was that
Fuck that evil shit
Seconding this. You aren't obligated to pay a dead person's debt, even if collectors try to tell you otherwise. Make sure your family knows that.
Not even collapse stops creditors from trying to collect on their debts.
After the collapse of the Soviet Union, the newly formed Russian Federation had to not only come up with a new financial strategy for its future, but also had to consider repaying the billions of dollars the Soviet Union borrowed from abroad. In 1996, Paris and Moscow signed an accord to write off the tsarist debt. Russia paid but not nearly as generously as the descendants of French bond buyers hoped.
https://en.wikipedia.org/wiki/Repudiation_of_debt_at_the_Russian_Revolution
Fuck debt collectors. I still get collection calls regularly for $1,000 CC debt that's over 10 years old. They even acknowledge when they call that it's past the statute of limitations to sue. Like one day I'm just going to find the goodness in my heart to fork over the money hahahaha
Yeah, I mean the UK sold their student loans to the IMF and tripled the price. Half of kids end going to uni, most don't make enough to even register to pay it back (and expires after 30 years). And if you're earning decent money your accountant/business can easily subvert many of the payments. Seriously risky investment. A national strike a decade down the line and they won't be able to cash or sell any of those debts
