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Debt is a monetary burden that most individuals attempt to handle responsibly, however some will go to excessive—and sometimes ridiculous—lengths to keep away from paying what they owe. Whether or not it’s bank card balances, scholar loans, and even mortgages, folks have tried weird schemes to flee their monetary obligations. Whereas a few of these methods are laughably absurd, others have landed folks in authorized bother, making their debt state of affairs even worse. Listed below are ten of the stupidest methods folks have tried to get out of paying off their debt.
1. Claiming They’re No Longer Alive
One of the vital determined—and dumbest—makes an attempt to keep away from debt is faking one’s personal dying. Some folks have gone so far as forging dying certificates, staging pretend obituaries, and even convincing family and friends to lie on their behalf. The issue? Lenders and authorities companies aren’t simply fooled. Banks and collectors usually confirm dying claims, and faking your dying is a federal crime in lots of nations. As an alternative of wiping out debt, this rip-off normally ends with fraud fees and even jail time.
2. Mailing a Literal Envelope Stuffed with Pennies
Some folks assume they’ll “technically” pay their debt in a approach that frustrates collectors a lot that they’ll simply surrender. One notorious trick is mailing an envelope crammed with pennies or a whole truckload of unfastened change to a lender. Whereas it’s true that authorized tender legal guidelines imply corporations should settle for respectable foreign money, banks and lenders aren’t required to course of funds in an unreasonable format. Many establishments merely return the fee and proceed charging late charges.
3. Arguing That Debt is “Unlawful” Based mostly on Conspiracy Theories
A gaggle of so-called “sovereign residents” consider that debt is unlawful and that they don’t seem to be obligated to repay loans or bank cards. Their argument is that the U.S. authorities and banks function underneath a secret monetary system that doesn’t apply to them. They ship weird authorized paperwork crammed with nonsensical authorized jargon, claiming that their money owed have to be erased. Unsurprisingly, courts don’t acknowledge made-up monetary loopholes, and these folks normally find yourself in deeper authorized bother.
4. Sending a Stop-and-Desist Letter to the Financial institution
Some debt dodgers assume that sending a cease-and-desist letter to their financial institution will in some way erase their monetary obligations. Whilst you can ship a letter to cease aggressive debt assortment calls, it doesn’t eradicate the debt itself. Lenders don’t simply neglect about unpaid loans as a result of somebody despatched them a strongly worded letter. As an alternative, they usually escalate the case, take authorized motion, or ship the debt to collections—resulting in even worse monetary penalties.
5. Altering Their Title to Escape Debt Collectors
A surprisingly massive variety of folks have tried legally altering their identify, assuming that their debt will disappear with their outdated id. Nevertheless, debt isn’t tied to only a identify—it’s related to Social Safety numbers, addresses, and monetary historical past. Banks and credit score companies nonetheless observe debt underneath earlier names, so this trick accomplishes completely nothing—besides the effort of submitting authorized name-change paperwork for no purpose.
6. Marrying Somebody and Transferring the Debt to Them
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Some folks assume they’ll escape debt by getting married and in some way dumping their monetary burdens onto their partner. Whereas marriage does merge sure monetary duties, money owed incurred earlier than marriage sometimes stay the unique individual’s accountability. Some debt dodgers have even tried divorcing proper after transferring property and loans to their partner, hoping to stroll away debt-free. Courts aren’t fooled by this trick, and most lenders nonetheless maintain the unique borrower accountable.
7. Transferring to a Distant Nation to “Disappear”
Some debtors consider that shifting overseas means their debt will magically vanish. Whereas it’s true that some lenders gained’t pursue small money owed internationally, massive unpaid loans, unpaid taxes, and government-related money owed (like scholar loans) don’t go away simply since you go away the nation. In some circumstances, lenders can nonetheless work with worldwide assortment companies, freeze accounts, or stop a debtor from returning house with out monetary penalties. Operating away not often works—until you propose to utterly minimize ties with trendy banking methods ceaselessly.
8. Suing the Financial institution for “Emotional Misery” (Continued)
In a weird try and erase debt, some folks have truly sued their lenders, claiming that having to pay their payments induced them emotional misery. Whereas debt can completely be irritating, this argument doesn’t maintain up in courtroom. Debt is a authorized obligation, and simply because somebody finds it inconvenient doesn’t imply they’re entitled to a free move. Usually, the lawsuit is dismissed, and the debtor finally ends up owing much more on account of authorized charges.
Even worse, if the lender decides to countersue for unpaid debt and authorized prices, the debtor could also be in a fair deeper monetary gap. The courtroom system isn’t sympathetic to individuals who file frivolous lawsuits in an try and keep away from monetary accountability. As an alternative of erasing their debt, they normally find yourself including to it.
9. Pretending to Have Amnesia or “Forgetting” In regards to the Debt
Some debt-dodgers assume that taking part in dumb will get them off the hook. They declare they don’t bear in mind taking out the mortgage or opening the bank card, hoping the lender will simply drop it. Sadly for them, banks and collectors preserve information of each transaction, and conveniently “forgetting” doesn’t make the debt disappear.
Some scammers have even tried to pretend amnesia or insist that another person fraudulently opened the account of their identify. Whereas id theft is an actual problem, falsely claiming fraud is a severe crime. If the lender investigates and finds out the declare is fake, they might pursue authorized motion for fraud, making the state of affairs far worse than simply having unpaid payments.
What Occurs When These Tips Backfire?
Making an attempt to sport the system to keep away from paying debt not often works—and sometimes makes issues a lot worse. Individuals who try these ridiculous methods usually discover themselves dealing with:
- Lawsuits – Lenders can take authorized motion, resulting in courtroom judgments that make the debt even more durable to flee.
- Wage Garnishment – Courts can order a portion of the debtor’s paycheck to be routinely deducted to repay the debt.
- Ruined Credit score – Unpaid money owed and failed scams can destroy credit score scores, making it tough to purchase a house, get a job, and even lease an residence.
- Financial institution Account Freezes – Some lenders can get courtroom approval to freeze accounts, which means debtors can’t entry their very own cash.
- Prison Fees – Fraudulent makes an attempt to keep away from debt, akin to faking a dying or submitting false lawsuits, can result in fines and even jail time.
The Smarter Various: Going through Debt Head-On
As an alternative of making an attempt silly methods to get out of debt, folks ought to concentrate on actual options that truly work. Choices like negotiating with lenders, establishing fee plans, consolidating debt, or working with a credit score counselor may also help folks get again on observe with out resorting to shady techniques. In some circumstances, submitting for chapter might even be a respectable final resort that wipes out sure money owed legally.
Debt can really feel overwhelming, however avoiding it—or making an attempt ridiculous schemes—will solely make issues worse. The neatest transfer is to take accountability, make a plan, and sort out the debt head-on earlier than it spirals uncontrolled.
Have you ever ever heard of somebody making an attempt a loopy trick to dodge debt? Share your ideas within the feedback!
Learn Extra:
Would Jesus Use a Credit score Card? The Ethics of Debt in a Trendy World
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Latrice is a devoted skilled with a wealthy background in social work, complemented by an Affiliate Diploma within the area. Her journey has been uniquely formed by the rewarding expertise of being a stay-at-home mother to her two kids, aged 13 and 5. This function has not solely been a testomony to her dedication to household however has additionally offered her with invaluable life classes and insights.
As a mom, Latrice has embraced the chance to teach her kids on important life abilities, with a particular concentrate on monetary literacy, the nuances of life, and the significance of internal peace.
