Student – Due to illness will be commiting suicide early January
If a student with pretty much no estate other than a tv and an xbox was to give said “tv and xbox” away as christmas presents. Then, took out £500-£10,000+ from these various payday loan companies at the maximum amount and time period to pay back (So they’d end up owing over £100,000+) and then before they were due to start repaying them they gave the money to family and friends as presents (so they literally had nothing for anyone to recieve in my will). Then the student committed suicide. Would the debts with these companies be cleared due to them being dead and having nothing left to pay them. Or would they pass on the debts to the next of kin I.E the parents or siblings of the student?
Your question and the thought process behind the question, disturbs me. Threats, idle or otherwise, of taking one’s own life, are taken seriously; if you are serious about this, you may want to read my response very closely.
What is your illness? Is it serious or terminal?
If “said student” were to be approved and take out the amount of loans and debt you mention, and were to suddenly find themselves having moved on to the great beyond, no, their family and friends would not be responsible for the debts left behind. Unless they guaranteed them.
There is of course the wacky notion a creditor may decide this was a planned circumstance and look to take legal action against your estate; of which there really is none as you did not have anything. But by passing the amount of money you mention onward, the creditor could look to try and claw back some of it through whatever legal means they can find. Seems doubtful to me, but is does need to be mentioned.
There also is the option of life. If you were to take out these loans, and then go bankrupt, what then?
Then you may be free of the debts, have a restriction order issued against you (a slap on the wrists really), but your family and friends could be chased for the money.
So again, not the best of situations.
What then is the best solution?????
Maybe a nice Christmas present is to spend the time with friends and family and let them enjoy the time with you. I somehow doubt lavish gifts or gestures of the grand will change any love already felt for you, or make it greater.
If you make the choice to end your life, no one can really stop you. The gift of life that is yours was just that a gift, and it is yours now to with what you want.
Of course there is the Beetlejuice theory, which is by killing yourself in this life you come back as a civil servant on the other side. If you haven’t seen the film, watch it, it has it’s moments.
Let me hear back from you as to your thoughts. We can email or speak in private if you wish.
Jon Emge is an experienced UK debt advisor who has helped thousands and thousands of people in the UK to deal with problem debt. Jon specialises in finding good solutions for problem debt using a variety of UK specific techniques.
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