If you were single and you purposley during the last couple of months of your life took out multiple credit cards and ran them up and live an extravagent life. Who will pay those cards off if you die. Knowing you are single and debt can't be transfered in that case.
2007-01-30 02:37:20 · 10 answers · asked by Anonymous in Business & Finance ➔ Credit
You could run them up wildly.Also this is your chance to get even with your enemys.As an exampl you could ki--them and it would not matter because you will die from cancer before you go to jail.Fire up the old woodchipper feet first HAHAHAHAA.
2007-01-30 04:34:37 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Your estate, if you have any. Otherwise it is absorbed by the credit issuing company, who in turns takes a loss on the debt. This drives up costs to the lender that are in turn charged to all of their clients through higher fees and rates to account for the higher cost of lending money. Or, if done too much, it can narrow their profit margins as they have to remain competitive, and could put them out of business altogether.
Society knows that there are a small percentage that take advantage of the system and cost everyone else more, but if the tide ever turns and more people become more dishonest in their dealings, our whole system could crash and burn.
2007-01-30 11:50:53 · answer #2 · answered by walkinandrockin 3 · 0⤊ 0⤋
Your question is typical of the mind set that is damning our country nowadays.
Don't you realize that you are not hurting the credit card companies in doing what you suggest? You are hurting all of the other card holders, who pay the bad debts and delinquencies of others who do not live up to (pardon the pun) responsibilities.
Yo are hurting your family, friends, coworkers, and everyone else WHO lives right and pays their debts.
2007-01-30 12:08:18 · answer #3 · answered by The Cythian 3 · 1⤊ 0⤋
"Your estate" is actually your family if you have no material possessions. Would you really want to leave all of this behind for your family to have to deal with? Credit card companies do not eat debt. They go after their money. The people you leave behind will be held responsible for your debt. Don't be selfish.
2007-01-30 14:52:59 · answer #4 · answered by Poison Ivy 3 · 0⤊ 0⤋
crybabies!!
You're estate will take care of your debts. Which is done every day.
Millions of people die every year with debts and no assets to pay them off with and financial companies still see billion dollar profits every year.
You rates go up because of greedy *** companies that do things like charge fees on some of the silliest things. (i.e. paying your bill over the phone or internet)
Don't blame high rates on people that died with debt!!!
2007-01-30 12:32:16 · answer #5 · answered by evil_twin 2 · 1⤊ 0⤋
Other credit card holders would eventually pay with higher interest rates.
2007-01-30 10:49:06 · answer #6 · answered by SALSA 6 · 0⤊ 0⤋
Other honest people who would never dream of doing things like this will get stuck with bill through higher annual fees and interest rates.
2007-01-30 11:44:54 · answer #7 · answered by Adoptive Father 6 · 0⤊ 0⤋
the debt would be taken out of your estate, assuming you leave some assets behind. otherwise, company eats it and implicitly everyone else ends up paying for it thru higher prices
2007-01-30 10:51:37 · answer #8 · answered by jim06744 5 · 0⤊ 0⤋
It could be transfered to family. Your assets would be liquidated, all that stuff you ran the credit cards up for would be sold to pay them off...it'd be a nightmare. You'd be glad you were dead.
2007-01-30 11:39:33 · answer #9 · answered by tarkenberg199 3 · 2⤊ 1⤋
i say stick it to the man. let them deal with it. they aint nothing but loan sharks anyway. lets put em all out of buisness.
2007-02-01 04:06:44 · answer #10 · answered by Anonymous · 0⤊ 0⤋