Would you relocate to avoid a creditor?

Discussion in 'Financial Planning' started by remnant, Jul 20, 2016.

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  1. remnant

    remnant Expert Member

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    There are some situations in which one finds self in a bankrupt mess probably as a result of a failed venture with creditors hot on their heels. The heavens seem to have closed and the only respite seems to be to relocate in order to shield oneself from creditors. The greatest temptation for this is especially so with regard to people who are tenants and would be difficult to locate if this occurs. Some go into hiding until their situation improves before they reconnect with creditors.
  2. lonewolf

    lonewolf Legendary Survivalist Staff Member

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    the only people this would apply to is people setting up a new business, although its probably easier to just declare oneself bankrupt in this sort of situation.
    I have known people(tenants) who have done a "midnight flit" rather than have to pay rent arrears.
  3. Tom Williams

    Tom Williams Moderator Staff Member

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    Computor age you can run but you cant hide best if you cant afford it or make payments dont buycerdit cards are set up to keep you paying avoid them
  4. lonewolf

    lonewolf Legendary Survivalist Staff Member

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    only buy what you can afford to pay for, its called living within your means, an unheard of concept these days!!
  5. Arkane

    Arkane Master Survivalist

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    My pride and honour would not permit it!
  6. amelia88

    amelia88 Well-Known Member

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    I have to say my generation is pretty bad at this - a lot of people are out for instant gratification when it comes to buying things and being materialistic I think...

    In saying that, I can happily say that I don't have debt and I feel great about that. I've always been conscious of finances...growing up in a family that didn't have much has made me aware of ways to save money, and to understand what is a need and what is only a want.

    I think that's where a lot of people go wrong. They think the things they want are things they need, when that isn't really the case!
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