Screen capture from "The Sixth Sense" turned into a meme at

By Mike Johnson

Did you know that you donít have to repay debt?

You don't go to jail if you stiff your creditors.

Yes, they might take your mortgaged house or car or boat or RV.

But they canít repossess your restaurant meals, grocery charges or Amazon orders.

Yes, theyíll whack your credit score, making it harder to get credit in the future.
The most aggressive might get a judgement against you.

Big deal.
If you don't have it, you don't have it.
Once buried in debt, you certainly donít WANT any more of it.

When buried in debt, the aware make a list of bills and prioritize who should be paid first.

Food. Utilities. Gasoline to get to work. Rent.
If you can handle these bills, youíre going to survive.

Cough up the mortgaged goods and start over.
By paying cash.

Bankruptcy is an option. It only carries the stigma you give it.

Bankruptcy used to be rare. Now itís common. There are many good reasons to file.

We filed for bankruptcy 28 years ago due to a business failure. We hated it, but survived.
With the perspective of time, it was just a closed road that forced us onto a better road that took us farther.

Short of bankruptcy, itís more moral to pay the small guys first. These are real people who suffer real pain from your non-payment.

But stiff the shit out of the big guys.

Banks. Credit cards. Finance companies. Hospitals.
Anything that is a faceless corporation.
They charge excessive fees to cover for those who donít pay.
They made YOU overpay.
Theyíre professional loan sharks.
They know exactly what theyíre doing.

Obviously, Iím not advocating fraud. Fraud will get you in jail.

This advice goes to people who found themselves buried in debt by non-fraud activity.
Medical bills, job loss, death or divorce, financial ignorance, bad decisions.

Something went haywire. Do the best you can to repay.
But donít let debt pull you into despair, depression, addiction, crime or slavery.

Itís just debt. Itís not life or death.

Learn from your mistakes.
Then spurn the debtors that try to make you a slave.
You only owe them money.
Not your life.

Legal Disclaimer



87 Ways to Earn Cash Without a Job (or on the side)

Don't Pay the Big Guys Because They're Stealing Everything


Back to Mike's Warm, Wealthy Wisdoms

Back to Mike's Website,