Why can’t you not pay your debt until you die, sure the interest will be insane but they can’t come after you if you’re dead
Depending on the amount of the loan, while you’re alive you may face legal action seeking to forcibly collect the debt, including wage/tax garnishments, for missing payments repeatedly
Well, usually the debt agreement gives your creditor the right to sue you if you don’t pay. And then there will be consequences like garnishing your wages, seizing bank accounts, seizing assets, your credit score being destroyed…
If you’re willing to be poor and un-sueable, then yes, you can do that. But it’s a miserable way to live.
If you stop paying people back, no one will ever lend you money again. No more buying cars or houses, no more renting apartments, no more credit cards. Your paycheck may be garnished, leaving you with pennies to live on.
I guess if you have kind relatives who will feed and house you for free, you could make it work. But if they kick you out or die or something, you’re homeless and starving.
Most debts have minimum payments. And if you die with debts, those debtors get paid out of your estate before you can pass that estate on to your children or other people you’d like to inherit it.