Changing Your Identity Due To Accumulation Of Heavy Debt

Debt is simply defined as something owed and while the term debt is usually used in reference to money though sometimes it could be that an individual owes goods or failure to render a particular service to someone that might have paid for it.

Debt could be public debt, sovereign debt, internal debt or external debt all which

concerns the government but then there are debts that an individual can incur personally such as money borrowed from fellow individuals, loan from banks or government agencies or it could be due to tax evasion by an individual which usually tends to cause a lot of problems for such an individual in the long run.

Debt is tricky in the sense that it is easy to incur due to the availability of credit cards which then provides a platform for the debt to accumulate and then such an individual is unable to pay up as a result of this. It then leads to a situation whereby the tax agency begins to look for such person so that such can pay up their debt and if they are not able to do so, such an individual can then be put in prison.

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This is why sometimes when people are in this situation; they try to change their identity so as to give them a fresh start with no debt accrued to them whatsoever; furthermore there are cases in which names of individuals are similar and then the wrong debt information is accrued to one of them which then leads to the tax agency chasing the wrong guy to pay up.

Sometimes back, I was involved in a debt situation in which I was accused of tax evasion running to about $100,000. Quite rightly, I had evaded tax but I knew it was not up to that and so when I was informed; I sat down to do my calculations and I discovered that all I owed was not more than $25,000 I then contacted my lawyer immediately I discovered this, he then told me not to worry that he would carry out some investigations of his own.

When I eventually heard from him he said there was someone with a name identical to my name and some other details who owes that amount but that the problem is their investigation has already set their sights on me and they cannot change or stop what they have started. It then occurred to me that even if they shift from me they are still going to discover I am defaulting I tax payments already, so an idea struck me and I decided to change my identity.

I then contacted an old friend of mine who helped me change my name and social security number but then he warned me that it was temporary that I should find a permanent solution.

I gladly took the advice and decided to pay what I owed originally after which I will then take up the matter in court as false accusation so that when the real me is then investigated I will not be found guilty of tax evasion anymore.

Resources:

http://ftalphaville.ft.com/tag/household-debt/

http://mobile.nytimes.com/2013/01/19/your-money/mortgages/rushing-into-a-mortgage-can-be-costly.html

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