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Old 11-12-2014, 08:42 AM
 
495 posts, read 618,027 times
Reputation: 373

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I don't want to see this credit card anymore....can't I just throw it out or abandon the card and then whatever is on that card ceases to be my responsibility? Or it doesn't work like that

Ideally would be to cancel the card and open a new credit card so I have 0 again

 
Old 11-12-2014, 08:52 AM
 
Location: 213, 310, 562, 909, 951, 952, 315, ???
1,538 posts, read 2,634,569 times
Reputation: 1869
Um, what?
 
Old 11-12-2014, 08:53 AM
 
4,565 posts, read 5,155,254 times
Reputation: 13529
Let us know how that works out.
 
Old 11-12-2014, 09:13 AM
 
Location: Portal to the Pacific
8,736 posts, read 8,756,886 times
Reputation: 13007
I don't want to pay off the $200k left of my mortgage. So can I just stop paying it and go get another mortgage on a different house?
 
Old 11-12-2014, 09:14 AM
 
16,709 posts, read 19,598,015 times
Reputation: 41497
Quote:
Originally Posted by Ericthebean View Post
I don't want to see this credit card anymore....can't I just throw it out or abandon the card and then whatever is on that card ceases to be my responsibility? Or it doesn't work like that

Ideally would be to cancel the card and open a new credit card so I have 0 again
Go ahead and try it, let us know it goes.
 
Old 11-12-2014, 09:22 AM
 
495 posts, read 618,027 times
Reputation: 373
What if I tell the bank I used to have an alcohol problem but not anymore so it wasn't my fault.

1) The cost of alcohol

2) the poor spending habits because of what the alcohol made me do

No this isn't me but my cousin is in this dilemma
 
Old 11-12-2014, 09:23 AM
 
3,201 posts, read 4,442,590 times
Reputation: 4444
that better be a business credit card because i dont know how anyone can carry a $50k bslance on a personal card

even spread out between cards

someone would need to have good credit to get those lines t begin with and someone would also have to be living beyond their means and no longer has good credit
 
Old 11-12-2014, 09:23 AM
 
18,567 posts, read 15,806,805 times
Reputation: 16277
Quote:
Originally Posted by Ericthebean View Post
I don't want to see this credit card anymore....can't I just throw it out or abandon the card and then whatever is on that card ceases to be my responsibility? Or it doesn't work like that

Ideally would be to cancel the card and open a new credit card so I have 0 again
You can close it but still have to pay on your debt. You'd just be converting a revolving debt into an installment debt.
 
Old 11-12-2014, 09:29 AM
 
3,201 posts, read 4,442,590 times
Reputation: 4444
sbould have to close anything

closing accts tank your scores even more especially if the account is old

If this situation is real, cut the card up no longer charge anything, leave your acct open and pay it off n full
 
Old 11-12-2014, 09:34 AM
 
Location: California side of the Sierras
11,162 posts, read 7,727,635 times
Reputation: 12524
Quote:
Originally Posted by Ericthebean View Post
What if I tell the bank I used to have an alcohol problem but not anymore so it wasn't my fault.

1) The cost of alcohol

2) the poor spending habits because of what the alcohol made me do

No this isn't me but my cousin is in this dilemma
I am sure they will understand. Banks are known for giving money away to anyone with any sort of problem. Why not ask for another 50k before closing the account?
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