Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Are you so sure they'll just charge them off and forget about you? They won't. You'll get hounded, wages garnished. You purchased items and now refuse to pay. What's that called again?
Then there will come a day where you wish you had credit in an emergency type situation..
There are jobs that run credit checks, you won't be able to get utilities or insurance and if you do you'll owe higher deposits and/or rates.
Check out this guy's threads. He sounds like he doesn't want to work and maxed out every credit card imaginable. Have fun with your ****ty life....you blew it.
If you quit paying, they will bombard you with calls and flood your mail box. they will find and call your place of employment and harass you. Most CC companies will not just charge it off, they will sell it to a debt collection agency who will then bombard you again with mail and phone calls. After you drag it on for years you can attempt debt settlement and pay pennies on the dollar to pay off your debt, but at the end of the year you get a surprise when you have to claim that unpaid debt as income on your taxes. Your best bet is to file bankruptcy and learn your lesson.
here is a sure fire way to keep the bill collectors from calling you all the time. don't pay your phone bill either.
Call your creditors and ask for the hardship department. They will (likely) allow you to make no payments for a period and lower your interest rate. This will stop the escalation of late fees and the compounding problem, and give you a breather to start looking for a job and get your finances back in order. I'm surprised this wasn't suggested...
If you simply blow off the debt and it's small enough that they don't pursue you until your state statute of limitations is up, you will still have increased insurance rates, no access to credit, and issues with renting for as many as 7 years from the time you defaulted.
If the debt is substantial, then of course you could declare bankruptcy. It too has it's costs.
The forums at creditboards.com would be a good place to research specific creditor's hardship programs and general info about credit.
Call your creditors and ask for the hardship department. They will (likely) allow you to make no payments for a period and lower your interest rate. This will stop the escalation of late fees and the compounding problem, and give you a breather to start looking for a job and get your finances back in order. I'm surprised this wasn't suggested...
Gee, perhaps it wasn't suggested because of the attitude that the OP exhibited?
I suspect he is a troll. No one could post such a ridiculous OP and expect to be taken seriously.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Unfortunately criminal law usually does't apply to these low lifes and they get by with it.
