I was listening to a podcast where a serial killer was in debt half a million dollars. He was then put in prison for life. What happens to that debt?
In: Economics
If he was worth anything, the same process creditors would have to follow for a non incarcerated person.
They’d have to go through all the usual methods to collect, file to garnish wages, sue in civil court to attempt to seize assets to repay, etc.
It all has to be done through the courts. Just because your guilty of one crime, doesn’t make your finances any more open game. Unless it’s a financial crime in which case repayment and seizures will usually be part of you criminal indictment and case.
You don’t have to go to jail though to have a bank write their loss off on you and call you not worth their time because you don’t have any money or assets for them to seize.
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