I was reading an article the other day about people who have completely gone "off-grid" so-to-speak in order to avoid paying high credit card bills. It boggled my mind a bit. I mean, I know people can easily find themselves in a bind, especially with credit cards because they can be so easy to obtain and even easier to use, but there seems to me like there has to be a better way than going to such extremes. After the article, I searched around the internet a bit more and found that there are threads on forums giving advice on how to do this, and there seems to be quite a community of sorts. I have to wonder though, aren't these people shirking their responsibilities? What is your take?
Yes they are shirking. I can say that because when my father died, he had a couple of huge loans and as his legal heir I was also responsible for the payments. We got a HUGE amount from his life insurance company, and we could have simply gone to some obscure European country like Lichtenstein but we didn't. I stayed and my mum stayed and we paid off every last penny. Here's the thing, lenders are understanding. If they are not, there are ways to ensure that they don't charge interest. Also, I wouldn't go around interacting with lenders at all. Just keep paying the damn thing. If its 2k a month, pay 1k, doesn't matter. Because that means that you are willing to pay. So, the lender can't take you to court, and if they do, you're safe because you have shown you are not running away. If you pick up their calls, they will harass you, which isn't useful, because if you had money you would have paid. You are not obligated to pick up their phones, just keep the repayments coming.
I think that's ridiculous. If people rack up the debt they need to take responsibility and pay them off. Going off grid isn't going to help them because they still have a social security number. Anyone can be tracked regardless of where they go.
They saying goes "you can run but u can't hide." I believe it would be more of a hassle to try to hide rather than try paying off the debt. The disruption in the normal flow of activities, the constant moving around to avoid being confronted, is not an easy situation to cope with, therefore, I believe it would be better if they stand their ground and try to work a plan get out of the debt.
This is one thing I don't want to happen to me - that I would be in hiding because of debts. This is a sad story that I want to tell. When I was new in my first job, naturally the salary was small but the job is permanent so it was a good start. Unfortunately, my former classmate called me up because unknown to me, her mother had consigned some jewelries to my mother who never paid. In short, my mother has a debt of 30k and considering that my salary was only 3k a month, huh. I suffered not only the pain of paying my mother's debt but also the shame that was brought by that debt.
i agree, theres no point trying to run from your issues, if youve managed to get yourself in so much debt then you should face up to it and sort it.
Anyways, people still run away. So, I guess to them its better to run away then to stand and pay. The fact is that by running away they completely ruin their credit score, and it takes a long time to repair a bad credit score.
Well, many people look at running from debt as better than bankruptcy, but bankruptcy may be a better option to give you a fresh start however, the problem with that is your credit is trashed for the next 7 years. It is better to try to work something out with lenders if possible, because once your debt is satisfied you can get it off the books.
This is why I try to avoid using credit cards as much as possible. I don't want to be in a state of so much debt that I wouldn't be able to pay for it anymore. For me, even if I will hide or run away from my debtors my life wouldn't be as good as I would want to because my conscience would never stop bugging me. No one should run away from his/her debt but sadly, many people have the heart to do it.
No, I wouldn't go about it that way at all. It doesn't solve anything because whenever the law catches up with you, you may still have to face the music. Ok, the debt may be underwritten, but then you'll almost certainly be blacklisted. Plus you're unable to do do so many things because your credit's been shot to buggery. I just couldn't live off the grid, especially for something like that.
The "better way" is burning these credit card companies to the ground and starting a more ethical business from scratch. They take advantage of the people and it's disgusting. Not saying someone in debt should brush off what they've done and hide.. most people know what they're getting into. But these companies also know that many of those who owe, only came to them out of desperation to begin with.. or something happened in their lives that brought them to this debt and so they punish them harder. I find them deplorable companies. Instead of blaming those in this situation.. think about why they're there to begin with. The system is set up to create the poor and keep them poor.. a better way is more human companies. The better the people are treated, the better the economy. But serious money is made from the poor.. so on we go. But to answer your question.. I'd go off grid regardless, if I could lol. If I had debts, I'd make sure they were paid first though.
The reason most people find themselves swimming in debt is because they spend more money than they earn. If you spend more than you earn then obviously eventually you'd won't be able to pay your debts. This is why it's always advisable to live within your means. That said, I never would shirk my responsibilities — if I've got debts no matter how long it takes I'd pay them off.
It's basically the same as going on the run for stealing, in my view. Maybe I'm being a bit harsh and judgmental about it, and sometimes the issue is that people charge crazy interest rates to people that really need money, but it's other people's money you're effectively choosing not to pay back. Admittedly, people have entirely different circumstances and situations that get them into that position. But to completely go off the grid is disappointing. You'll constantly be looking over your shoulder for one thing.
For one thing, I'm not and never will be in that situation. I won't incur a debt I can't pay. It's a big slap not just on my face but on my dignity as an upright person. Who wants to hide from something that's wrought upon the self? The best way to avoid a debt is to save and plan out your budget all the time.
The problem is that when one is incurring a debt, he or she is a romantic optimist but when payaback time is overdue, one becomes an insufferable pessimist. I try to avoid credit cards like bubonic plague. There was a time my account was credited with a hundred dollars as a result of a computer error resulting in a rat race since the sum advanced had no legal basis. Credit is costly but it would not make long term economic or moral sense to shirk responsibility.
I would never go into hiding to avoid paying debt. I'd work even harder to pay off the debt as soon as I can. There's just no escaping the responsibility for your debts. Someone has to pay and I wouldn't want my son to suffer for my debts. Debtors will surely run after my estate if I die with outstanding debts. While you can't be convicted for just having a debt, you can be charged for fraud and be jailed if you did not inform the bank of your whereabouts. It's better to face the music and ask the bank for any options they may want to give so you can gradually pay off your debts over a period of time. Banks will prefer to give you more lenient terms rather than run after you through legal means.
I am surprised to read that there are forums and websites here advising people on how to commit fraud! I mean, how can these people live in peace, even though they do manage to go into hiding. Wouldn't they be afraid of their debtors catching up on them one day. They would be just living in fear all the time. I would rather strike up some kind of deal where I can pay the debt off gradually over a period of time rather than running off, if I were in that kind of situation. I could never sleep peacefully if I owed any one money.
It's not a good idea to run from debt it will catch up with you, no matter what you do. It's best to get solutions, and do you best to repay all credit card debt. Whether it's consolidation of credit cards, debt relief, or other solutions, it's best to face the music, and see what can be done about solving their debt problem.
@ReadWriteLearnLove Hmm.. if it meant going to jail over past debts that I simply couldn't afford, then yep, maybe I'd go into hiding. And I would take all of my pets with me. But if it meant my credit score would go down or something less extreme than jail, then no....I would ask if they had any kind of payment plan/program. Because I can pay things off in small amounts (once I discipline myself and learn to not be so wild with $$ so I can put some aside every month)...but I could never pay off a huge loan all at once. I just don't have that kind of cash.
Well thankfully I'm pretty good at managing money so I've never even thought about doing a disappearing act but it doesn't surprise me to know that people look up ways of doing this. Some people are just so bad at managing their finances. I don't see how I could hide with the responsilbilities I have and I certainly wouldn't feel comfortable about doing it so I would rather come clean, face the music and try and sort out some kind of payment plan. Running away from our problems really doesn't solve anything.
