Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
You will be persecuted by debt collectors, calling at all hours of the day and night. They will call you at your place of work and tell your boss you are a dead beat. They will call your mom and tell her that you are worthless. It's not legal, but they do it anyway.
They will ruin your credit - which in itself is well-deserved. But you may not be able to get a job because of it. The job that could help you pay off your debt.
The companies can, and will, notify the IRS and send a 1099 and requiring you to pay taxes on the amount of money you walked from. Try paying windfall taxes on $300k of debt. If you can't pay your debt, you can't pay your taxes. And you can't walk from your taxes, they continue to build with penalties.
Try doing that with $130k in medical bills for a sick child. Or how about working a company for 20 years and getting laid off. Or maybe a divorce that left you in financial ruin.
Some people are there by their own doing, but nobody gets away truly "free."
You will be persecuted by debt collectors, calling at all hours of the day and night. They will call you at your place of work and tell your boss you are a dead beat. They will call your mom and tell her that you are worthless. It's not legal, but they do it anyway.
They will ruin your credit - which in itself is well-deserved. But you may not be able to get a job because of it. The job that could help you pay off your debt.
The companies can, and will, notify the IRS and send a 1099 and requiring you to pay taxes on the amount of money you walked from. Try paying windfall taxes on $300k of debt. If you can't pay your debt, you can't pay your taxes. And you can't walk from your taxes, they continue to build with penalties.
Try doing that with $130k in medical bills for a sick child. Or how about working a company for 20 years and getting laid off. Or maybe a divorce that left you in financial ruin.
Some people are there by their own doing, but nobody gets away truly "free."
As it should be. If you act like a deadbeat, you should be treated like a deadbeat. I know there are people out there that are at the end of their rope. But many more are giddy with the fact that they beat the system.
As it should be. If you act like a deadbeat, you should be treated like a deadbeat. I know there are people out there that are at the end of their rope. But many more are giddy with the fact that they beat the system.
If that's being treated like a deadbeat, then fine - but you don't "beat the system" or feel "free". There is a serious price to pay that most "walkers" have yet to experience.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
