What would you do?
Discussion
I saw something in a Manchester shop window and it got me thinking.
The sign was hung high against the glass of a watch shop that read 'we do loans up to 1 million pounds'. I had to do a double take as I have never seen such a large figure offered in a high street window.
Granted you'll need to provide some kind of proof you're good for it, however what if you only had a few months left and could get a large loan, maybe not as much as one million but enough to make them last few months amazing, and maybe help some people out, would you?
Yes it's irresponsible and very shameful but, it would be bloody good.
Maybe I'm crazy and this text will be quoted over and over but surely I'm not the only one?
The sign was hung high against the glass of a watch shop that read 'we do loans up to 1 million pounds'. I had to do a double take as I have never seen such a large figure offered in a high street window.
Granted you'll need to provide some kind of proof you're good for it, however what if you only had a few months left and could get a large loan, maybe not as much as one million but enough to make them last few months amazing, and maybe help some people out, would you?
Yes it's irresponsible and very shameful but, it would be bloody good.
Maybe I'm crazy and this text will be quoted over and over but surely I'm not the only one?
underwhelmist said:
What happens to debts when you die? I guess creditors have to be paid from your estate? In that case wouldn't you just be creating a massive headache for your executors?
True. Though let's see you didn't have that much of an estate.I forgot to add the last sentence 'what car would you buy'
manracer said:
True. Though let's see you didn't have that much of an estate.
I forgot to add the last sentence 'what car would you buy'
If the estate couldn't cover the debt, I assume the creditors would get everything, and it would still be a massive PIA for the executors. I have no idea though, it's an interesting question and I'd like to hear an expert opinion.I forgot to add the last sentence 'what car would you buy'
Oh, and I like Alfas at the moment so probably a 4C
underwhelmist said:
manracer said:
True. Though let's see you didn't have that much of an estate.
I forgot to add the last sentence 'what car would you buy'
If the estate couldn't cover the debt, I assume the creditors would get everything, and it would still be a massive PIA for the executors. I have no idea though, it's an interesting question and I'd like to hear an expert opinion.I forgot to add the last sentence 'what car would you buy'
Oh, and I like Alfas at the moment so probably a 4C
underwhelmist said:
What happens to debts when you die? I guess creditors have to be paid from your estate? In that case wouldn't you just be creating a massive headache for your executors?
If there are no assets remaining after death then its actually pretty easy - no one has to administer the estate. Solicitors wouldn't do it - they wouldn't get paid. And family members can just issue death certificates and do nothing else. The headache passes to the people owed money.Where it gets more interesting is if it can be proven the money was gifted before death...I've no idea on this but this is where it is likely to get interesting and I wonder what powers they'd have for chasing the debt.
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