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11/12/04
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contrast

contrast

Minneapolis, MN
January 2004

NOV 09, 2004 06:07 PM

what happens if i just stop paying, and ignore any future correspondance?

short term. long term.

and

anybody know a good resource for credit card help, other than make more $$$ (i'm working on that.)

mk700c

mk700c

Ann Arbor, MI
December 2003

NOV 09, 2004 06:12 PM

contrast said:
what happens if i just stop paying, and ignore any future correspondance?

short term. long term.



I would advise against it.

FunkTion

funktion

I'm lost
June 2003

NOV 09, 2004 06:16 PM

they take you to collections which could mean legal action against you. which could mean wage garnishing. not fun you would also have horrible credit, which means no other credit cards, no buying a car, no buying a house, and maybe not even renting an apartment.

there are alot of credit help agencies. i see one on tv all the time..

Here are some links

JovialLush

JovialLush

Las Vegas, NV
June 2004

NOV 09, 2004 06:17 PM

They can turn you over to a collection agency which will go on your credit history. If you have many other outstanding bills ie; other credit card debts, car loans, student loans, etc. bankruptcy might be an option. there are two different versions a chapter 11 and a chapter 13. there are different advantages to both I suggest a good attorney.

If you don't want to do something this drastic perhaps you should look at consolidating debts.

Fu

Fu

Los Angeles, CA
November 2003

NOV 09, 2004 06:18 PM

contrast said:
what happens if i just stop paying, and ignore any future correspondance?

short term. long term.

and

anybody know a good resource for credit card help, other than make more $$$ (i'm working on that.)



You never know what could happen. Maybe they'll make you CEO of the company because you've got "balls" ... like Tony Montana

Give it a shot ... let us know how it turns out.

rottenart

rottenart

Norman, OK
February 2004

NOV 09, 2004 06:22 PM

send rabid spiders through the phone lines to munch on their cerebral cortexes.

i've heard that helps.

contrast

contrast

Minneapolis, MN
January 2004

NOV 09, 2004 06:28 PM

Fu said:

contrast said:
what happens if i just stop paying, and ignore any future correspondance?

short term. long term.

and

anybody know a good resource for credit card help, other than make more $$$ (i'm working on that.)



You never know what could happen. Maybe they'll make you CEO of the company because you've got "balls" ... like Tony Montana

Give it a shot ... let us know how it turns out.



that's the advice i'm looking for. biggrin


thanks for the links, people. i'll check em out. blackeyed

wouldnt bankruptcy fuck my future credit anyway? confused

FunkTion

funktion

I'm lost
June 2003

NOV 09, 2004 06:30 PM

contrast said:

Fu said:

contrast said:
what happens if i just stop paying, and ignore any future correspondance?

short term. long term.

and

anybody know a good resource for credit card help, other than make more $$$ (i'm working on that.)



You never know what could happen. Maybe they'll make you CEO of the company because you've got "balls" ... like Tony Montana

Give it a shot ... let us know how it turns out.



that's the advice i'm looking for. biggrin


thanks for the links, people. i'll check em out. blackeyed

wouldnt bankruptcy fuck my future credit anyway? confused



for a period of time yes. depends on the type. i think its 5 or 7 years.

oh and its a misconception that when you file for bankruptcy you dont have to pay the money back..

[Edited on Nov 09, 2004 by FunkTion]

clara

clara

MODERATOR

Baltimore, MD

NOV 09, 2004 06:30 PM

contrast said:
wouldnt bankruptcy fuck my future credit anyway? confused


Less than you'd think. Maybe even less than just ignoring the bills.

EndedBen

EndedBen

Grand Rapids, MI
August 2004

NOV 09, 2004 06:31 PM

I suggest a bad attorney. Then you can claim incompetent legal advice on a later date and you'll be free. Free!

Cash

Cash

USA
OLD SKOOL

NOV 09, 2004 06:31 PM

contrast said:
wouldnt bankruptcy fuck my future credit anyway? confused



Only if you ever intend on financing anything more expensive than a cup of coffee

JovialLush

JovialLush

Las Vegas, NV
June 2004

NOV 09, 2004 06:36 PM

Cash said:

contrast said:
wouldnt bankruptcy fuck my future credit anyway? confused



Only if you ever intend on financing anything more expensive than a cup of coffee



This is untrue. In our society overextending yourself has become the norm and the bankruptcy laws are much less disruptive to your life than they used to be. You can file chapter 11 and have a new credit card in a year. In 7 years no matter which way you go the whole thing will be gone.

unravled

unravled

Portland, OR
August 2003

NOV 09, 2004 06:36 PM

Cash said:

contrast said:
wouldnt bankruptcy fuck my future credit anyway? confused



Only if you ever intend on financing anything more expensive than a cup of coffee



You can finance coffee now?!?!?

s5

s5

STAFF

San Francisco, CA

NOV 09, 2004 06:36 PM

Clara said:

contrast said:
wouldnt bankruptcy fuck my future credit anyway? confused


Less than you'd think. Maybe even less than just ignoring the bills.



to a creditor, not paying your bills is worse than having a bankruptcy on your file. if you don't pay your bills, you're considered a deadbeat with a bankruptcy risk. if you have a bankruptcy on you, they know you can't file bankruptcy again for another 7-10 years.

Sexdwarf

Sexdwarf

Hermosa Beach, CA
February 2003

NOV 09, 2004 06:37 PM

There are 3 evils to watch out for:
1) Credit card companies
2) The govt. (esp. w/Republicans in power)
3) Darth Vader, says he's your father, then wham!, lightsaber in your back

Manchester_Black

Manchester_Black

Edmonton, AB
March 2004

NOV 09, 2004 06:40 PM

I've worked in collections, so depending on the nature of the debt and the amount, that would be what effects if its worth it or not to pay, couple things to know, bankruptcy laws, statute of limitations on bills, and what you plan on doing credit wise with your life.

MrStitches

MrStitches

Brooklyn, NY
November 2003

NOV 09, 2004 06:40 PM

Sexdwarf said:
There are 3 evils to watch out for:
1) Credit card companies
2) The govt. (esp. w/Republicans in power)
3) Darth Vader, says he's your father, then wham!, lightsaber in your back



I believe it's a lightsaber in the wrist.

Edited to add: You don't want to get this sent to collections. Those guys are douchebags. They are basically a small step up from having a guy come to your door with a baseball bat looking menacingly at your knees and demanding cash.
But even though I had a credit card go to collections, I still have above average credit. And I make late payments a lot. I think I have some sort of good credit luck, which is made up for by my complete lack of financial responsibility.

[Edited on Nov 09, 2004 by MrStitches]

MrStitches

MrStitches

Brooklyn, NY
November 2003

NOV 09, 2004 06:43 PM

Oh, and faking your own death is always another good option.

JovialLush

JovialLush

Las Vegas, NV
June 2004

NOV 09, 2004 06:45 PM

s5 said:

Clara said:

contrast said:
wouldnt bankruptcy fuck my future credit anyway? confused


Less than you'd think. Maybe even less than just ignoring the bills.



to a creditor, not paying your bills is worse than having a bankruptcy on your file. if you don't pay your bills, you're considered a deadbeat with a bankruptcy risk. if you have a bankruptcy on you, they know you can't file bankruptcy again for another 7-10 years.



actually not 100% accurate. you cant file 13 again for 7 years but you can do 11 multiple times.

contrast

contrast

Minneapolis, MN
January 2004

NOV 09, 2004 06:46 PM

think i'm gonna go watch the end of fight club again...

Cash

Cash

USA
OLD SKOOL

NOV 09, 2004 08:46 PM

unravled said:

Cash said:

contrast said:
wouldnt bankruptcy fuck my future credit anyway? confused



Only if you ever intend on financing anything more expensive than a cup of coffee



You can finance coffee now?!?!?




somebody's never ordered a venti pumpkin latte at Starbuck's. tongue

hotcurry

hotcurry

Los Angeles, CA
June 2004

NOV 09, 2004 09:14 PM

be aware that bankrupcy doesn't work on student loans. You will owe those until they're paid or you die. So if that's a factor in your debt, you're screwed.

turin

turin

Denver, CO
October 2003

NOV 09, 2004 09:35 PM

if it's under $1000 or so, you can theoretically just ignore it. they'll turn you over to a collection agency (who might offer you a deal, sometimes 50%) and after a year or two they'll write you off and your credit will be wrecked. then you'll be living paycheck to paycheck for the next 7 years. no house, no reliable transportation, no vacations, no engagement rings, no visiting the parents for the holidays. however much money you have in your pocket right now is about how much you'll have in your pocket for the next decade. credit is useful.

these days I wish I had just called up the credit card companies and asked what kind of deals they were willing to make. they'd much rather take whatever sofa change they can get than write you off.

TheJuanupsman

TheJuanupsman

Hopkins, MN
April 2004

NOV 10, 2004 06:48 PM

hotcurry said:
be aware that bankrupcy doesn't work on student loans. You will owe those until they're paid or you die. So if that's a factor in your debt, you're screwed.



Yeah, the main reason I would never file. Compared to the student loan debt the rest is nothing. I know a few people who paid off their student loans with their credit cards and taking out other loans. Then declared bankruptcy. Not an option for me. no one would ever extend me that much credit but seemed to work for them.

Chancy

Chancy

Markham, ON
July 2004

NOV 10, 2004 06:57 PM

i've used my line of credit to pay off my credit card... saves me paying 2/3 the interest. and i still get points!

i'm a consumer whore surreal

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