IG chat/loot suggestions
If you have drops to pick up but your bags are full you can make room (salvage/throw away/sell/tp) and get it anyway. Dying does not influence that. Only when you change zone you will not be able to get the items anymore.
If you have a pop-up chest but cant pick up the loot the pop-up chest will remain in the bottom right corner off your screen, even if you change zone or character.
So it seems that some has been telling you a fairy tale to spook you.
As for world chat: NO. I have played lotro. and it was bad. It was terrible and it was way too much spam. For most purposes we have the lfg-tool and thats good enough.
Arise, ye farmers of all nations
Arise, opressed of Tyria!
Arise, opressed of Tyria!