They would be indebted to the landowners. They would have to find other ways to pay for the debts or be stuck to the land until it was paid off.
What would happen to the US standard of living if people lost faith in the safety of your financial institutions?
Everything would have to be paid for in cash, by cheque or electronic funds transfer.
Only if you get caught driving without insurance can that happen in most states. I wish it would happen in all.
The same thing that would happen if you didn't pay for any other charges. Charge off, collection agency, collection attorney, possible lawsuit, judgment, judgment action. This is a bit simplified but the basics are,your wages and bank accounts can be garnished, property can be seized and sold (seldom happens)etc. It would be in your best interest to consult with an attorney, most offer free or minimal charge consultations
You can put a house up for sale in foreclosure, but the foreclosure process could happen before the house sells. It doesn't make any sense, if you would like to sell the house, do so before foreclosure.
They would be indebted to the landowners. They would have to find other ways to pay for the debts or be stuck to the land until it was paid off.
Sharecroppers who could not pay their debts to landowners could potentially face eviction from the land they were farming. They might also lose access to essential resources needed to sustain their livelihoods, leading to greater financial struggles and poverty.
They would be indebted to the landowners. They would have to find other ways to pay for the debts or be stuck to the land until it was paid off.
Landowners often exploited sharecroppers by charging high interest rates on loans for supplies and equipment, resulting in perpetual debt for the sharecroppers. Additionally, landowners would often manipulate the accounting of crop yields and prices, leading to sharecroppers receiving lower profits than they deserved.
When sharecroppers couldnÃ?t pay their debt, they were often forced to grow crops just for selling, to pay back debt. For instance, they would have to grow cotton, instead of crops that were edible.
They would be sharecroppers.
This Austale Owens
Corn
Sharecroppers were forced to buy tools and seed from their landowners for exorbitant prices. When the harvest came in, the crops were sold for barely enough to pay off the loans the sharecroppers took out to eat and survive. This left little to pay off the debt that they owed.
Sharecroppers were charged high interest rates and had to give a portion of their crops to the landowners. This meant that most sharecroppers lived in poverty with little chance to own land or homes of their own.
well workers got a place to live on and crops to plant for food, they were paid too but not as much as the landowners
They sharecroppers would give tools, housing, food and other necessities to the workers in return for their work. Then the workers would get half of the profit. This kind of system did not work really well in LA. The sharecroppers were usually in debt so they could not pay their workers, and we caught up in a credit cycle.