Do Debts Go Away?Can Debts Be “Wiped Off The Books”?The answers are:YesYes and NoYes
No one likes to think about when an emergency may arise. It may be a health issue, it may be work related, money and finances, an emergency can come in many forms, and also affect just about anything.
There are two things that you may not think go together almost like toast and jam, and that is credit and gambling .
Over the years I have heard a lot of confusion regarding someone’s debts when they die, and unfortunately, this may add to that confusion.
A newish term that has been tossed about in recent times is “peak” something, peak and then add the item, product, or thing you are referring to.
As per Shakespeare in Hamlet, “neither a borrower nor a lender be”.In the world of money and lending and borrowing, it is not just limited to the banks, and loan companies, credit cards, peer-to-peer lending , and overdrafts. Lending money also can be closer at hand as in the instance of a family member or close friend asking to borrow some money. In some instances it may be a large sum of money.
There is so much about personal finances that has been written about over the years here in this blog, topics such as loans, credit scoring, bad credit and bad credit loans, insolvency, insolvency for businesses, troubles on the High Street, money laundering, and even infographics on Facebook, Google, James Bond, you name it, it has been mentioned here!
In the business world, getting a loan or injection of capital, can be a tricky thing. If you look at all the business and High Street shops which have recently gone bust, due to cash issues, heavy debts, and poor sales, then you know.
One of the goals many people, especially young people, have today is to get on the property ladder. To grasp that first rung and begin the climb.
Do our children fully understand debt, and being in debt?Do they know the consequences of having debts?