**updated** i stopped paying my bills

[catilley1092]

If you stopped paying you bills, and you're genuinely in financial trouble, you have options. But stay away from those ads on the net promising to fix all of your problems for little or nothing.

Bankruptcy, either Chapter 7 (straight bankruptcy) or Chapter 13 (wage earner plan) may be viable options to you. But if most of your debt is very recent, your petition for Chapter 7 may be dismissed, as that won't look good to the court. However, most people qualify for Chapter 13 (repayment over a period of 3 to 5 years), which stops the interest from accruing. Except for secured purchases, like a car or home.

At any rate, this is serious shit.

Cat

 

[bart1975]

I went through Chapter 7 in January. It was not as bad as I thought it would be. They did not even ask me the same questions they asked everyone else, most likely since my debt was about 4 years old.

 

[SandEagle]

updated.

 

[Sluggo]

well FML. my fico dropped drastically after missing a few payments. 50+ points lol. enough for me to start caring again. just sent in a $600 payment to cover a $450 minimum due. sigh. now all of you can suck it and get off my back.

Did you buyuy, or more appropriately, finance that new TV yet?

 

[Red Squirrel]

I don't understand how people can get themselves in so many debts.

If you can't afford something, don't buy it. Ok I've been guilty of that myself, but it's usually because I know that in a paycheck or two I'll be able to pay it off, so I don't pay interest. Like if I want something NOW and not in a month, I might put it on the card. Though, I really try not to do that, usually it can wait.

 

[EagleKeeper]

well FML. my fico dropped drastically after missing a few payments. 50+ points lol. enough for me to start caring again. just sent in a $600 payment to cover a $450 minimum due. sigh. now all of you can suck it and get off my back.

Now you have another 1-2 years before the stupidity of your actions no longer have an impact

 

[GundamW]

i think i've had it with the cc companies. everything is late and strangely i just don't care anymore. what will happen next? anyone else do the same thing before?


**update** 8/13

well FML. my fico dropped drastically after missing a few payments. 50+ points lol. enough for me to start caring again. just sent in a $600 payment to cover a $450 minimum due. sigh. now all of you can suck it and get off my back.

 

[halik]

Reminds me of that Chris Rock skit...

HA ditto.

 

[halik]

the rewards systematically destroy merchants.

i.e.

bank offers reward of 1% to customer for using card.
customer that paid cash, merchant would get 100% of the purchase.
customer that paid by cc, merchant would get 97% of the purchase.

basically the bank is giving you 1% or 1/3 of their haul to rob the merchant out of 3%.
does nothing but make the banks richer, and the merchants relatively poorer.
the customer obviously wouldnt care, and the banks know it. diabolical system.

Except that accepting credit cards increases your total revenue, otherwise obviously CCs wouldn't be as prevalent (ie.e if you can more more by being a cash-only joint and keep the 100%, you wouldn't get a merchant acct with a bank).

Anything aside from small/cheap food places make more money by having a merchant account, as shown by reality.

 

[HAL9000]

i think i've had it with the cc companies. everything is late and strangely i just don't care anymore. what will happen next? anyone else do the same thing before?


**update** 8/13

well FML. my fico dropped drastically after missing a few payments. 50+ points lol. enough for me to start caring again. just sent in a $600 payment to cover a $450 minimum due. sigh. now all of you can suck it and get off my back.

Lol.

 

[Powermoloch]

Good, you paid off your bills :thumbsup:

 

[gorcorps]

sandeagle is the greatest troll on AT

it's a thing of beauty how quickly he gets everybody up in arms

 

[Printer Bandit]

http://www.wimp.com/clubhandle/

 

[SandEagle]

Good, you paid off your bills :thumbsup:

paid off? hardly. i have $9700 to go on it. :\

 

[TakeNoPrisoners]

Troll harder.

 

[HendrixFan]

You should have either doubled down on not paying to get some settlement offer directly from the CC (hopefully) or continued paying on time. Going halfway, by not paying until late then paying, was a big mistake.

 

[SandEagle]

You should have either doubled down on not paying to get some settlement offer directly from the CC (hopefully) or continued paying on time. Going halfway, by not paying until late then paying, was a big mistake.

i thought about it, but they hadnt changed my 13% rate yet. one more missed payment wouldve taken me to 29.99%.

 

[HendrixFan]

i thought about it, but they hadnt changed my 13% rate yet. one more missed payment wouldve taken me to 29.99%.

You have to wait 2 to 3 months of non payment before they make an offer. Being late a day will trigger a rate increase, but that is pointless if you stop paying. 1000% of zero is zero.

I can understand not wanting to risk whether or not they will accept a settlement. In that case you need to start selling stuff and/or get a second job.

 

[Bignate603]

well FML. my fico dropped drastically after missing a few payments. 50+ points lol. enough for me to start caring again. just sent in a $600 payment to cover a $450 minimum due. sigh. now all of you can suck it and get off my back.

I have to ask, what exactly did you think was going to happen?

 

[SandEagle]

I have to ask, what exactly did you think was going to happen?

debt settlement. i was hoping they'd make a move. i shouldve waited another month though.

 

[PeeluckyDuckee]

If you don't answer their calls, they'll eventually have no choice but to send it to collections, where they will attempt to call you some more, and in the end issue you a notice in the mail with a settlement offer. Only then do you negotiate.

 

[JSt0rm]

Thank god I have no debt.

 

[alkemyst]

Thank god I have no debt.

You can't afford to.

At higher incomes, you do go into debt whether it be at the week, month or year level.

 

[xanis]

**update** 8/13

well FML. my fico dropped drastically after missing a few payments. 50+ points lol. enough for me to start caring again. just sent in a $600 payment to cover a $450 minimum due. sigh. now all of you can suck it and get off my back.

 

[alkemyst]

50 points sez he is trolling now.