• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

How bad will my credit be if I don't ever pay a card, even after a collector comes?

S

Shudder

Platinum Member
I'm about ready to just say fudge it. I think my credit is bad as it is, and I already own a condo and make payments on it.. But, if I blow off 5k in credit debt, or a write off or whatever they call it.

How bad off will I be? 7 years? I can take it..

And if so, should I do the same with another card.. Strike while the iron stabbing my ass is still hot?
 
It's seven years from the date of the write-off, which is when the company gives up trying to collect. Also, the company for $5,000 may come after you and garnish your wages.
 
go to board.creditnet.com

you will not get a loan for squat for 7 years AFTER they write it off. Which would be up to 2 years 🙂


 
If your gonna blow it off cuz you can't afford to pay it, and depending on how in debt you are, there is always filign bankruptcy.

But I wouldn't recommend it
 
Does anyone have actual experience with this? I keep hearing stories of how people claimed bankrupcty and never had a problem getting loans or anything after that, but you also hear stories of people being screwed for many many years, what are exagerations and what is real?
 
Not a good plan...

Just call your creditor. When it comes down to it, they would rather get your money a little at a time than have to write it off as bad debt.

You can't completely write off debt anyway unless you file for bankruptcy. Having a $5000 debt is better than the hell that is bankruptcy.

There are companies that can mediate for you if it's past the point where you can talk civilly with your creditor. Even if you only pay $20 a month, the creditor would prefer that to taking it all on the chin.

l2c
 
At least make minimum monthly payments on your card. You should be paying about $120 a month to at least make a $20 dent in it every month, until you eventually get it down, then you can cut back on your payments. You will have to file for bankruptcy if you just plan to forget about it. Not a good plan but if you have to file, do it. It's only $5,000, people go broke for much more than this usually. You're in luck 😉

dm
 
Thanks for the advice guys.

It's just that with another card, the interest is so damn high I'm thinking about chucking it unless they can lower it some. We'll see.

And anyone have any experience with just defaulting on student loans? 😀
 
You will never have so many friends as when you don't pay the bills - your phone won't stop ringing and they might come see you in person too 😉

Someone suggested a credit counselor - that is an excellent idea. They will review your creditors and most likely get the interest down considerably, the down side is you won't be able to (ab)use your cards any more while you're paying them off, but you won't be able to use them in the middle of a bankruptcy either.
 
credit counselor.. I'll have to check that out. I don't care if I can't use credit cards ever again in my life, personally. I've learned my lesson and hate my parents for helping me into this situation 🙂

Oh, I dropped my home phone anyway because all I got were damn telemarketing calls (and the occasional bill collector).

What REALLY bothers me is they call me then say "Please call us, it's important." WTF!? I have to get a pen and write it down. Piss on them.
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top