0
Many reasons, and it varies by person. Some people didn't know what they were getting into and didn't take into account that their circumstances might change... they don't pay simply because they cannot. They lost a job, they don't have savings, or whatever. Sometimes you do everything you can medically to save a child and rack up massive bills, and then there are more and more bills after that because the illness or problem is long-term and you just can't make ends meet.
Other people could pay if they got a job or made some sacrifices, but the effort or sacrifices aren't worth it to them to pay the bills... they don't care enough, or they legitimately have more important things to worry about... so they declare bankruptcy or consolidate debts to get to a workable level.
Other people don't ever intend to pay their debts. They try to get through life by promising things that they know they will never do. This could be because of an addiction, a pathological condition, or just because they believe that society owes them a living...
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
Formed for the people who couldn't pay the debts?
crack
Who is responsible to pay back debts?
The government is responsible to pay all back debts.
Who is responsible to pay back all debts?
The government is responsible to pay all back debts.
Do you have to pay credit card debts if your name has changed?
Just because your name has changed doesn't mean that you don't have to pay credit card debts. They are still your debts to pay.
When does the bank require a cosigner?
The banks want to know that they will get the money that they are owed back. Too many people today fail to pay back loans for a variety of reasons, both honest and dishonest. If you do not have an established, suitable credit history, a bank has no way of knowing if you are a good credit risk (reliable in paying your debts). By having a cosigner with the appropriately established credit history, if you fail to pay the loan, they can make the cosigner pay the loan. That is what the cosigner is singing for, to pay back the loan if you fail to do so. If you loaned money you would want to make sure you got money back, wouldn't you?
What did the article of confederation fail to provide for?
There was no way for them to collect taxes to pay debts
Formed for the people who couldn't pay the debts?
crack
What is the number one reason why consumers default on their debts?
They do not have the money to pay back their debts!They do not have the money to pay back their debts!They do not have the money to pay back their debts!They do not have the money to pay back their debts!
Which colony was a home for people who could not pay their debts?
Georgia
If a general partnership fail who is responsible for the debts?
All of the partners are responsible for the debts.
If You owe money to someone in bankruptcy - will you have to pay it if you can't afford it?
You have to pay your debts...the other persons bankruptcy isn't really relevant...YOU HAVE TO PAY PEOPLE YOUR DEBTS...FIND A WAY TO DO SO. You can't afford other things....your debts you MUST afford.
Is it better to immediately pay debts or to invest?
Pay off your debts!
What should people do to get out of debt?
People should pay off their debts and take care of their debts this is th e best way i can tell you By:Aarion Walker
Who is responsible to pay back debts?
The government is responsible to pay all back debts.
Who is responsible to pay back all debts?
The government is responsible to pay all back debts.
Do you have to pay credit card debts if your name has changed?
Just because your name has changed doesn't mean that you don't have to pay credit card debts. They are still your debts to pay.
Are there wealthy people who are willing to invest in helping someone pay off his debts?
Not unless they know them. Financial problems can't be solved by having someone pay off our debts, but by living within our means.
