Stoozing - What happens if I die..

Hi,

Sorry about the 'Morbid subject' but I am just curious as to what would happen If I were to be run over by a bus tomorrow.

Should I explain 'Stoozing' to my OH so she would know how to clear my debts via the Stooze pot ?, would the CC company’s pursue the debts ? or would it become a nice bit of 'Life Insurance' for her ?

Replies

  • Hi,

    Sorry about the 'Morbid subject' but I am just curious as to what would happen If I were to be run over by a bus tomorrow.

    Should I explain 'Stoozing' to my OH so she would know how to clear my debts via the Stooze pot ?, would the CC company’s pursue the debts ? or would it become a nice bit of 'Life Insurance' for her ?
    I think it would be wise to explain the gist of it in case of such an event. It only has to be something like "if I got run over by a bus tomorrow, these credit cards would need to be paid off. They can be paid off from this bank account here. It will always have enough money in it to pay the cards off."

    Clariman
    Co-author/owner of the official stoozing website https://www.stoozing.com and Creator of the SOA & Snowball calculators.
  • I had exactly the same thought as you when I had about 6 stoozes ongoing last year, so put together a stoozing lever arch file with a full written explanation of what was what, ie, amount of stooze, details of high interest savings account where money was being held, statement dates, minimum payment details, stooze end dates etc etc.

    Fortunately all stoozes completed without me kicking the bucket :j
  • I think I'll also get an Arch file - probably best to have all the info in 1 place anyway.

    I presume my Life Insurance payout would become part of my estate & would be used to clear any debt. So the 'Stooze pot' in a high interest account would probably become a pleasant surprise.

    Anyway, thanks for the replies - let’s get on with living... :)
  • BisoyBisoy Forumite
    873 Posts
    I had the same thoughts as well when I've been stoozing a couple of cards. Initially my wife has no knowledge with what I've been doing.

    Then that "dreadful thought". So I told her about it and explained. She totally disagree with me initially as she is not comfortable with having too much debt on credit cards. But after a couple months of rollovers (tarting) when she realised the benefits she wasn't bothered.

    Then I told her that I can't have too much cards as lenders would no longer allow me, meaning I have run out of options so I encouraged her why not have a go for yourself. She has just started stoozing this year currently having 2 stooze cards and me with 3 cards. She knows exactly what to do if that dreadful thought happens and vice versa.

    Indeed! let's get on with living shall we.....
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