I'm in favor of buying the inexpensive coffin, regardless of anybody's financial means. What possible benefit is lots of padding and gold trim on a coffin?
To vilify the banks for everything dilutes the case against real problem and makes it impossible for a bank to be 'good'.
Contract law
Dex
2/16/2012 12:19:43 PM
People seem to ignore the terms of their contracts more and more, whether it's a mortgage or a credit card. Sure it's sad the debtor died. But many people are worth more dead than alive. So I don't see why they shouldn't pay their debts.
Excellent information
driven
2/16/2012 12:27:10 PM
This really clarified this issue Noreen. I always felt bad about the widow or widower, but realizing it's the estate that pays makes sense.
Re: Contract law
Tenacious
2/16/2012 12:32:27 PM
Maybe we could argue for bailouts for the dead.
Re: Excellent information
Drivewaygirl
2/16/2012 12:35:06 PM
Really liked this post Noreen. Nice to see a call for responsibility and accountability.
Ripple effect
cat tail
2/16/2012 12:41:36 PM
People tend to underestimate the ripple effect of a default. We all end up paying for someone else's irresponsibility.
Good Story
tokyogai
2/16/2012 12:41:53 PM
Noreen- I guess this kills my plan to run all my credit cards to the max before I leave this world. I thought it would be my way to get back at them for the years of trying to find ways to charge me fees. I guess I will have to actually pay my debts- somehow this sounds UnAmerican to me....
Re: Good Story
driven
2/16/2012 12:44:03 PM
Give it time...someone will pass a law that shifts all debt from the dead to people who earn over $150,000 a year.
Re: Perspective
Phoenix
2/16/2012 12:44:09 PM
It is definitely prudent to do an analysis of the financial standing of a dead relative as soon as possible. Then armed with the information future decisions on how to proceed can be taken.
Re: Excellent information
Street Smart
2/16/2012 12:50:44 PM
Outstanding post! Having been executrix of three estates, let me just say that credit card debt has been the least of it in my experience; there are often many, many medical bills to be dealt with as well. Forget the casket entirely, and opt for cremation, is my strong advice!
I don't have any idea how much relatives actually get hassled. It may be the case that holding that fear over people's heads is just the marketing gimmick that these credit protection services are using to sell their wares.
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