What Happens When People Die with Debt: Who Pays?

Millions of Americans are getting buried in debt, literally. A shocking number are dying with unpaid mortgages, car loans, student loans and credit cards.
— Read on www.debt.org/family/people-are-dying-in-debt/

— I just found this on a random search about what happens to dad when you die.

I was thinking about this because I have no one to give anything to, whether it be assets or deficits, when I die. So I was imagining that whatever debt I accrue will just get absorbed into the system. And I was pondering how many people die in this way, such that their debt just gets absorbed by no one in particular and everyone in general?

It is interesting to me that the link that I found says that it’s “scary” that so many people will die owing a lot of money.

And I thought what a strange and somehow dangerous propaganda that kind of view supports and propagates.

Why is it scary?

Thinking about it, I think it’s scary because if you really consider what it means to die with debt that everyone gets to absorb as a society, it means that Debt doesn’t really mean very much. For a person to die with debt that no one owes or no one will be obligated to pay, calls into question the very idea of an obligation to pay debt.

And this is scary. Because our system is based in a deep kind of faith that there is some universal obligation to pay debt. Indeed it’s written into our lives, but in America anymore you can’t go to jail for not paying your debts. The only thing that happens is your credit score goes down. Or you end up homeless. And then that’s not great for Society. either because then what’s happening is everyone’s paying a ridiculous amount of money for me to live. Whether it’s that I am absorbing money for social programs, or I’m causing some sort of social issue, such that “regular people” get to deny the actuality of their existence by denying the reality of my homeless, credit list, moneyless situation. etcetera.

What is this world religion that we are involved with? 

Author: landzek

My name is Lance Kair, a philosopher, a counselor and a musician who is being questioned.

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