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Should lottery winners payback debts?

All creditors/debts no matter what.

[ 33 ]

[ 52.4% ]

Only ones in last 20 years.

[ 0 ]

[ 0.0% ]

Only ones in last 10 years.

[ 1 ]

[ 1.6% ]

Only debt in last 7 years.

[ 3 ]

[ 4.8% ]

All debt, but over a period of time.

[ 1 ]

[ 1.6% ]

Only verifiable debt.

[ 10 ]

[ 15.9% ]

Everything on credit report.

[ 1 ]

[ 1.6% ]

Everything on accurate credit report

[ 8 ]

[ 12.7% ]

No debt period.

[ 3 ]

[ 4.8% ]

Other, explain.

[ 3 ]

[ 4.8% ]

Total valid votes

[ 63 ]

Discarded votes

[ 2 ]

justxploring

Wandering Aimlessly
United States
Member #25,359
November 5, 2005
4,461 Posts
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Mar 28, 2008, 6:51 pm

I chose "Other" since this question has too many "what ifs" to it. I mean, if you borrowed $1 from someone back in 1957, do you try to find that person? Imagine the interest! LOL If a friend let you crash at his house in 1968, do you look him up and offer to buy him a condo?

Another question is "what do you mean by debt?" Debt to society? I don't want to start that long argument that was debated for several pages not long ago, but does this mean everyone who has ever gotten help from the government should pay back every penny? This would mean that if someone wins a small jackpot like $100,000 he/she might not end up with a dime. So do they make a rule that this only applies to jackpots over a million?

What about the people who have been incarcerated for a criminal offense? Then there are those unfortunate people who have been homeless at one time or another and stayed at a shelter or have had emotional problems, mental illness or substance abuse and lived in a state run psychiatric ward. Should every person who spent time in foster care as a child pay back what was spent on his room & board? If you went to a free clinic for medical treatment, do you pay that back or how about a college scholarship awarded to you, since many are paid for by the lottery?

If you are talking about debt, meaning unpaid bills, it's none of anyone's business as long as the debt isn't delinquent. In other words, if I owe money on a mortgage, a car or have some outstanding credit card balances, whether I pay those off or continue to make payments is up to me. Of course it doesn't make sense to pay interest on debt unless you are making more in investments, but it's certainly not the winner's obligation to pay off all of his bills just because he wins some money. In fact, a lot of wealthy people have outstanding loans. The word "debt" isn't necessarily something negative. Sometimes it's used as financial leverage.

I'm not sure what's being asked here, since I never borrowed money from anyone in my life except my parents when I had a medical emergency and we set up a payment plan. If they were still alive, of course I'd give them money anyway if I won the lottery.

Any bills or charges I didn't pay in the past was because I didn't feel they were justified and usually settled those disputes legally.
pacattack05

United States
Member #17,554
June 22, 2005
5,582 Posts
Offline

Mar 28, 2008, 7:00 pm

Quote: Originally posted by justxploring on Mar 28, 2008
I chose "Other" since this question has too many "what ifs" to it. I mean, if you borrowed $1 from someone back in 1957, do you try to find that person? Imagine the interest! LOL If a friend let you crash at his house in 1968, do you look him up and offer to buy him a condo?

Another question is "what do you mean by debt?" Debt to society? I don't want to start that long argument that was debated for several pages not long ago, but does this mean everyone who has ever gotten help from the government should pay back every penny? This would mean that if someone wins a small jackpot like $100,000 he/she might not end up with a dime. So do they make a rule that this only applies to jackpots over a million?

What about the people who have been incarcerated for a criminal offense? Then there are those unfortunate people who have been homeless at one time or another and stayed at a shelter or have had emotional problems, mental illness or substance abuse and lived in a state run psychiatric ward. Should every person who spent time in foster care as a child pay back what was spent on his room & board? If you went to a free clinic for medical treatment, do you pay that back or how about a college scholarship awarded to you, since many are paid for by the lottery?

If you are talking about debt, meaning unpaid bills, it's none of anyone's business as long as the debt isn't delinquent. In other words, if I owe money on a mortgage, a car or have some outstanding credit card balances, whether I pay those off or continue to make payments is up to me. Of course it doesn't make sense to pay interest on debt unless you are making more in investments, but it's certainly not the winner's obligation to pay off all of his bills just because he wins some money. In fact, a lot of wealthy people have outstanding loans. The word "debt" isn't necessarily something negative. Sometimes it's used as financial leverage.

I'm not sure what's being asked here, since I never borrowed money from anyone in my life except my parents when I had a medical emergency and we set up a payment plan. If they were still alive, of course I'd give them money anyway if I won the lottery.

Any bills or charges I didn't pay in the past was because I didn't feel they were justified and usually settled those disputes legally.

I knew it....!

She's a lawyer.....
justxploring

Wandering Aimlessly
United States
Member #25,359
November 5, 2005
4,461 Posts
Offline

Mar 28, 2008, 7:02 pm

Quote: Originally posted by pacattack05 on Mar 28, 2008
I knew it....!

She's a lawyer.....

Don't I wish! I've passed a lot of bars lately, Pac, but not that one.
tntea

50

United States
Member #5,344
June 30, 2004
23,639 Posts
Offline

Mar 29, 2008, 9:06 pm

Quote: Originally posted by justxploring on Mar 28, 2008
Don't I wish! I've passed a lot of bars lately, Pac, but not that one.

Fantastic...

To some out there that took a lot of courage... lol

OLD/Vtrac Lottery Bible Double Warnings TN F34/F44
GamerMom

United States
Member #60,533
April 21, 2008
460 Posts
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Apr 22, 2008, 10:02 pm

Quote: Originally posted by pacattack05 on Mar 24, 2008
Credit score? I wouldn't give 2 schmidts about my credit score after a win.

Any big ticket items would be paid for by wire transfer. And the only card I'd have in my pocket would be a debit card. Why would I want to buy anything that has an 18% rate attached to it.They're already raking in billions a year, and I won't be one of the contributors.

I don't even want a debit card NOW. Those get scammed so easily. We had a local theft ring at our mexican restaraunts where they would take 500-1000 bucks out of the bank of people using their debit cards. Could you imagine someone scamming you out of MILLIONS? that's your cash money you are messing with. What if a waiter at a restaraunt recognized you and stole your number and id number on the back? I guess i'm just paranoid.

I would stick with cash and one credit card.
TheGameGrl

A long and winding road
United States
Member #17,083
June 10, 2005
6,680 Posts
Offline

Apr 22, 2008, 10:26 pm

gamermom, a person is not liable if credit/debit card is lost or stolen.

No way would I trust an accountant either! Even Oprah signs all her checks and micro-manages her personal finances.

I chose to pay the debts that are legitimate and within the laws of collecting.

Count your smiles.
GamerMom

United States
Member #60,533
April 21, 2008
460 Posts
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Apr 22, 2008, 10:39 pm

Quote: Originally posted by TheGameGrl on Apr 22, 2008
gamermom, a person is not liable if credit/debit card is lost or stolen.

No way would I trust an accountant either! Even Oprah signs all her checks and micro-manages her personal finances.

I chose to pay the debts that are legitimate and within the laws of collecting.

i'm not talking about it being lost or stolen. i have read in Reader's Digest scammers can attatch devices to card readers at gas pumps, Wal-Mart, etc and tap into your account while you have no clue until you read your bank statement or if you are like me you check your account online the next day. I can't remember how they said it works but i never use my debit card unless I have to.
JackpotWanna

United States
Member #4,121
March 23, 2004
819 Posts
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Apr 22, 2008, 11:21 pm

Yes with interest!
time*treat

United States
Member #13,130
March 30, 2005
2,171 Posts
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Apr 22, 2008, 11:59 pm

Why not pay back accurate & current debt? One less thing for the press to yowl about (and draw the attention of 'me too' moochers to your door)

In neo-conned Amerika, bank robs you.
Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.
Tenaj

Charlotte NC
United States
Member #17,405
June 18, 2005
4,074 Posts
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Apr 28, 2008, 11:28 am

Quote: Originally posted by tntea on Mar 28, 2008
congrats

You were brave starting this poll. I started one like this asking if someone who received government assistance because they didn't want to work should or should not repay after a big win.

Apparently it touched a lot of raw nerves of those on government assistance.

With a 100 million win, there would be no way they would miss the pay back.

Apparently it touched a lot of raw nerves of those on government assistance.

Good that this was said behind a computer screen.

takeemtothebank
GamerMom

United States
Member #60,533
April 21, 2008
460 Posts
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Apr 28, 2008, 11:31 am

omg Tena that pic is too funny
tntea

50

United States
Member #5,344
June 30, 2004
23,639 Posts
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Apr 28, 2008, 8:39 pm

Looks like the majority plays fair.

OLD/Vtrac Lottery Bible Double Warnings TN F34/F44
Destined

Pittsburgh, PA
United States
Member #58,598
February 21, 2008
43 Posts
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Apr 30, 2008, 12:52 am

I would only pay back my college loans which total $40k. All other debts are small and I don't plan on paying them. I have a $20 collection from a doctor that I already paid. Over the past two years they send me a letter saying I owe them $20, and they do this twice a month. So really they have spent over $20 in postage trying to get me to pay a $20 debt. These type of idiots wont be getting paid.

WHO CARES WHAT YOUR CREDIT SCORE IS IF YOU WIN MILLIONS? I would never get another credit card and pay for everything in CASH. Seriously what do you need credit for? A $50 Million yacht you can't afford? Unreal how some of you think.

Even if you didn't pay back your debts, ANYONE would still loan you money. Let's say hypothetically you have a credit score of 500, but you have millions in the bank, you could borrow whatever you wanted. However, like I said, if you are lucky enough to win, SCREW CREDIT, pay by cash.

Why do you think federal student loans are protected by bankruptcy? Years and years ago, doctors and lawyers would rack up 6 figures in student loans then default and declare bankruptcy. Once youre a professional it doesn't matter what youre credit score is really because cash and income is what really matters.

So when I hit Powerball this wednesday and you are one of my creditors who think I owe you money from 7 years ago, youre goign to have to spend a load of money trying to sue me for it. "Talk to my lawyer. Here's his number."
Bagent

Vancouver, WA
United States
Member #53,663
July 15, 2007
151 Posts
Offline

Apr 30, 2008, 5:48 am

As most posters have stated already, all the debt that I owe will need to be paid. This is not to say that I will be paying for stuff that I have no debt for, so I will monitor what is owed and what is valid.

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