And yet. Technical debt costs you time and money over time. Fixing code six months down the line takes 5-10x as much effort than just fixing it while it's still fresh. Worst case scenarios is where you end up throwing away an application and rebuild it because the technical debt has made progress grind to a halt.
If there's nobody left who understands the code, or if there's hero coders who 'own' one section of the application, it's a huge risk to the company - which can, and has, bring a whole company down (there's a few stories on the daily wtf iirc).
A recurring thought with me and my projects after about six months is always "I wish we had done this properly the first time around"; in hindsight there was more than enough time, and it's costing a lot more time to fix it now.