The Daily Show’s Take on Credit Card Debt

June 28, 2007 By Jonathan Ping 14 Comments
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Here’s a funny clip about credit cards from the The Daily Show. Thanks to Ross for the tip.

I especially like the theory that as long as your carry your debt long enough, you can simply die and never pay it off! Why didn’t I think of that??

Filed Under: Credit Cards
Last updated: June 28, 2007
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Comments

  1. sfmoneymusings says
    June 28, 2007 at 9:35 am

    That is funny!

    Can’t creditors go after your family for money when you die and have outstanding debt? That’s what I read in a SmartMoney column awhile back – I might be wrong.

    I saw this on Yahoo – http://ask.yahoo.com/20041025.html

    Reply
  2. FamilyFinanceBlog says
    June 28, 2007 at 8:38 am

    Thanks … that was pretty funny! I know some people who seem to live like that!

    Reply
  3. Wanda says
    June 28, 2007 at 9:10 am

    hahaha. I love Jon Stewart!

    Reply
  4. Leah says
    June 28, 2007 at 10:20 am

    AWESOME.

    I love Demetri Martin. And I love this blog.

    Reply
  5. Mike says
    June 28, 2007 at 9:22 am

    Hilarious. I wonder what happens to your debt when you die though. Assuming you had no other assets, your estate goes bankrupt. Your heirs can’t inherit a bankrupt estate and be expected to pay it off, right?

    Reply
  6. Jonathan says
    June 28, 2007 at 9:37 am

    I’m pretty sure if you had no other assets and they weren’t named on the account, they can’t expect anyone else to be liable just because they’re related.

    More info at this link:

    “I am a certified credit counselor and it is true that the credit card companies will try to collect from the estate first and if there is a co-signer, they will be responsible for the debt. However, if there is no estate to collect from the credit cards can not pursue collections from the family. They may try to get the family to pay the debt, but can not legally force them to. Simply mail a copy of the death certificate to the credit card company (certified mail) and they should take care of the rest.”

    Also, read the conversation at the bottom if you want another laugh!

    Reply
  7. dood says
    June 28, 2007 at 9:59 am

    There was a story a while back about a college age girl who killed herself after racking up 10s of thoughs in cc debt, and the creditor went after her mother suggesting that she pay the debt “out of respect to her daughter’s memory”.

    Reply
  8. Joshua says
    June 28, 2007 at 10:44 am

    hahahaha….i love it!!! ^^
    When I was young, I used to sign up for all campus credit card solicitations to get those goodies (shirt, key chain, etc).
    After I got those goodies, I canceled every one of those credit cards thinking I got the upper hand (never thinking about the credit score).
    Since I’m older and wiser now, I use cc to my advantage (use their money to buy and rack up points, miles, etc. then pay it off every month)
    That’s why I love your website, Jonathan!!
    Keep up the good work!!

    Reply
  9. Jonathan says
    June 28, 2007 at 1:23 pm

    Boop!

    Reply
  10. Ken Blakely says
    June 28, 2007 at 1:26 pm

    “I especially like the theory that as long as your carry your debt long enough, you can simply die and never pay it off!”

    Umm….that’s not a theory – it’s fact, and it’s precisely what I intend to do.

    Reply
  11. Steve Austin says
    June 28, 2007 at 4:28 pm

    Regarding creditors going for an estate upon death, make sure the estate is emptied before death. Regarding creditors asking family members to pay off debt, make sure you are not findable by them and/or identifiable as a family member! This is hard to do, but not impossible. 😉

    Reply
  12. LSD says
    June 28, 2007 at 5:25 pm

    You don’t have to die to erase debt, you can declare bankruptcy.

    Reply
  13. Andy says
    June 28, 2007 at 6:20 pm

    That was funny, the part where he said don’t damage your credit card trying to unlock your apartment, just buy a new one, and the part about getting a new credit card every time you get to the limit, its called INVESTING 😀

    Reply
  14. starleads says
    June 29, 2007 at 5:35 am

    Thats a great strategy.

    Reply

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