# Credit cards and death **URL:** \ **Category:** Factual Questions\ **Created:** [August 8, 2006, 10:31pm UTC](https://boards.straightdope.com/t/credit-cards-and-death/367928 "2006-08-08T22:31:54Z")\ **Posts on this page:** 8\ **Page:** 2
**Author:** ![drhess](https://avatars.discourse-cdn.com/v4/letter/d/94ad74/32.png) [@drhess](https://boards.straightdope.com/u/drhess)\ **Post date:** [August 9, 2006, 2:22pm UTC](https://boards.straightdope.com/t/credit-cards-and-death/367928/21 "2006-08-09T14:22:03Z")
I assume credit card firms have an organized and well used way of writing this off on their taxes. ---
**Author:** ![Gfactor](https://avatars.discourse-cdn.com/v4/letter/g/9de053/32.png) [@Gfactor](https://boards.straightdope.com/u/Gfactor)\ **Post date:** [August 9, 2006, 2:38pm UTC](https://boards.straightdope.com/t/credit-cards-and-death/367928/22 "2006-08-09T14:38:44Z")
[QUOTE=drhess] I assume credit card firms have an organized and well used way of writing this off on their taxes. [/QUOTE] > [@](#): > > A business bad debt, generally, is one that comes from operating your trade or business. A business deducts its bad debts from gross income when figuring its taxable income. Business bad debts may be deducted in part or in full. [http://www.irs.gov/faqs/faq-kw140.html](http://www.irs.gov/faqs/faq-kw140.html) ---
**Author:** ![sciurophobic](https://avatars.discourse-cdn.com/v4/letter/s/cab0a1/32.png) [@sciurophobic](https://boards.straightdope.com/u/sciurophobic)\ **Post date:** [August 9, 2006, 3:46pm UTC](https://boards.straightdope.com/t/credit-cards-and-death/367928/23 "2006-08-09T15:46:04Z")
The comedian Alonzo Bowden did a bit on this on last year’s Last Comic Standing. He joked about not needing life insurance to help his family pay for his debts because he was single so, as he said, “if I die owing money, I win.” ---
**Author:** ![copperwindow](https://avatars.discourse-cdn.com/v4/letter/c/4af34b/32.png) [@copperwindow](https://boards.straightdope.com/u/copperwindow)\ **Post date:** [May 15, 2008, 6:08am UTC](https://boards.straightdope.com/t/credit-cards-and-death/367928/24 "2008-05-15T06:08:20Z")
What stops people who have a terminal illness from going to town and buying everything they want, since the debt would be on the bank? ---
**Author:** ![Cerowyn](https://avatars.discourse-cdn.com/v4/letter/c/82dd89/32.png) [@Cerowyn](https://boards.straightdope.com/u/Cerowyn)\ **Post date:** [May 15, 2008, 7:24am UTC](https://boards.straightdope.com/t/credit-cards-and-death/367928/25 "2008-05-15T07:24:26Z")
Holy Zombie threads, batman. However, to answer your question, it’s mostly a matter of due diligence on the part of the lender. If you have a terminal disease, and yet still manage to present the image of a good credit risk (good debt-to-earnings ratio, good credit, etc.) then you will probably get some money from an FI. A lawyer-type might weigh in here and say that the FI would likely have grounds for crying fraud on the [estate of the] borrower, but they’re unlikely to recoup the loan in scenario you paint. > [@motd Unix utility](#): > > He who owes most when he dies, wins. ---
**Author:** ![copperwindow](https://avatars.discourse-cdn.com/v4/letter/c/4af34b/32.png) [@copperwindow](https://boards.straightdope.com/u/copperwindow)\ **Post date:** [May 15, 2008, 7:31am UTC](https://boards.straightdope.com/t/credit-cards-and-death/367928/26 "2008-05-15T07:31:41Z")
[QUOTE=Cerowyn] If you have a terminal disease, and yet still manage to present the image of a good credit risk (good debt-to-earnings ratio, good credit, etc.) then you will probably get some money from an FI. [/QUOTE] How is a bank to know if I’m dying of a terminal illness? ---
**Author:** ![Oswald\_Bastable](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/oswald_bastable/32/214_2.png) [@Oswald\_Bastable](https://boards.straightdope.com/u/Oswald_Bastable)\ **Post date:** [May 15, 2008, 9:38am UTC](https://boards.straightdope.com/t/credit-cards-and-death/367928/27 "2008-05-15T09:38:44Z")
[QUOTE=copperwindow] How is a bank to know if I’m dying of a terminal illness? [/QUOTE] Generally they’ll ask you. If you lie, it’s fraud. If you refuse to answer, they may refuse the loan. OB ---
**Author:** ![Gfactor](https://avatars.discourse-cdn.com/v4/letter/g/9de053/32.png) [@Gfactor](https://boards.straightdope.com/u/Gfactor)\ **Post date:** [May 15, 2008, 11:36am UTC](https://boards.straightdope.com/t/credit-cards-and-death/367928/28 "2008-05-15T11:36:13Z")
Zombie!!! :eek: [Previous page](https://boards.straightdope.com/t/credit-cards-and-death/367928.md?page=1)