The “accredited investor” thing always seemed like a scam to me. Like if you have a lot of money we will trust that you know how to invest, otherwise we won’t let you.

If you have a million dollars and accrue a debt of $500,000 you are solvent. If you have $20,000 and accrue a debt of $500,000, you are bankrupt and your debtors take a big loss and everyone is sad.

(Also presumably if you have a bunch of money you did get it somehow…)